During the week ending January 28, sales prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have trended stable, while increased stagnancy as regards transaction activity has been seen ahead of the Spring Festival. As of January 28, the average sales prices of PPGI in the main Chinese cities 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 |
6,833 |
0 |
1,039 |
0 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,483 |
0 |
1,137 |
0 |
At present, CGCC 0.476 mm x 1,000 mm PPGI is sold in the Shanghai, Guangzhou and Boxing markets at RMB 6,650/mt ($1,011/mt), RMB 7,350/mt ($1,117/mt) and RMB 6,500/mt ($988/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm PPGI prices stand at RMB 6,750/mt ($1,026/mt), RMB 7,400/mt ($1,125/mt) and RMB 8,300/mt ($1,261/mt) in the above respective markets. All prices include 17 percent VAT.
In the past week, most trading companies have withdrawn from the market, and so few bookings have been concluded. Due to the strong uptrend recorded throughout most of 2010 on the back of high raw material costs, mainstream PPGI offers from the mills are still higher than market prices.
Compared with prices in the same period of last year, PPGI prices in China are significantly higher now. However, demand levels are not satisfactory. Nevertheless, most traders are positive on the prospects for China's PPGI market in the post-holiday period.