During the week ending October 29, the Chinese pre-painted galvanized iron (PPGI) market has continued the softening trend seen in the previous week, with some minor decreases reported in most regions. As of October 29, the average sales prices of PPGI in the main Chinese regions 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 |
6,600 |
-17 |
987 |
-3 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,223 |
-17 |
1,080 |
-3 |
At present, CGCC 0.476 mm x 1,000 mm PPGI is sold in the Shanghai, Guangzhou and Boxing markets at RMB 6,500/mt ($972/mt), RMB 6,950/mt ($1,039/mt) and RMB 6,350/mt ($949/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm prices stand at RMB 6,600/mt ($987/mt), RMB 7,000/mt ($1,046/mt) and RMB 8,070/mt ($1,206/mt) in the above respective markets.
During the period in question, market activity has not shown any remarkable improvement. Although most domestic traders have tried to keep prices stable, sales prices in actual deals have decreased noticeably. Given the uncertainties in the market, many traders are tending to adopt a wait-and-see approach.
With the approach of the winter season, market demand is expected to decline in the short term. Thus, pre-painted galvanized iron prices are unlikely to trend up in the near future. For the coming week, it is expected that prices will continue their softening trend.