In the past week, the Chinese pre-painted galvanized iron (PPGI) market has remained on a downtrend, with some disorder seen in quotation levels. The average pre-painted galvanized iron prices in the main markets in China 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 |
6,500 |
-67 |
1,030 |
-11 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,150 |
-33 |
1,133 |
-5 |
As of November 4, the prices of CGCC 0.476 mm x 1,000 mm PPGI in Shanghai, Tianjin and Lecong are respectively at RMB 6,450/mt ($1,022/mt), RMB 6,900/mt ($1,094/mt) and RMB 6,150/mt ($975/mt). For CGCC 0.426 mm x 1,000 mm PPGI, prices stand at RMB 6,550/mt ($1,038/mt), RMB 7,000/mt ($1,109/mt) and RMB 7,900/mt ($1,252/mt) in the abovementioned cities. All prices include 17 percent VAT ($1 = RMB 6.31).
In the Chinese PPGI market, in the past week domestic PPGI mills have concluded more transactions than before. PPGI end-users, whose current inventories are on the low side, are concentrating on purchasing materials at reasonable prices for new projects. However, PPGI mills believe that market demand may be negatively affected by seasonal factors in the coming period.
As for traders, they still hope that the reduced PPGI prices will boost their transaction volumes. With different levels of inventory and varying availability of cash, traders' PPGI quotations indicate some divergence and disorder. At present, many end-users are purchasing PPGI supplies directly from the mills, while traders are cautious about purchasing.
Approaching the end of the year, availability of funds is on the low side. It is expected that the Chinese PPGI market will continue to trend downward in the short term.