The sales prices of pre-painted galvanized iron (PPGI) products in China's domestic market have remained stable during the week ending March 4. As of March 4, the average sales prices of PPGI in the main Chinese markets are as follows:
Product name |
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
PPGI |
0.476 mm x 1,000 mm |
CGCC |
6,883 |
0 |
1,049 |
0 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,500 |
0 |
1,143 |
0 |
At present, CGCC 0.476 mm x 1,000 mm PPGI is sold in the Shanghai, Guangzhou and Boxing markets at RMB 6,700/mt ($1,021/mt), RMB 7,350/mt ($1,120/mt) and RMB 6,600/mt ($1,006/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm PPGI prices stand at RMB 6,800/mt ($1,037/mt), RMB 7,400/mt ($1,128/mt) and RMB 8,300/mt ($1,265/mt) in the above respective markets. All prices include 17 percent VAT.
In the given week, PPGI prices have been at around the same levels as before the Chinese lunar New Year holiday. In the meantime, traders have become less aggressive in pursuing orders at the cost of lower profit margins.
While no change has been witnessed in mainstream offers, there has been some demand for low-priced PPGI materials. Despite the relative optimism of market players previously, the weakening of the steel futures market has had a negative impact on traders' confidence levels. In general, China's domestic pre-painted galvanized iron market is now characterized by a lack of certainty.
With no improvement in market demand, it is thought that the Chinese pre-painted galvanized iron market is unlikely to observe any recovery in the short run.