During the past week, the Chinese pre-painted galvanized iron (PPGI) market has been characterized by a fluctuating trend, while transaction volumes have been relatively good for lower-priced materials. As of May 6, the average sales prices of PPGI in the main Chinese cities are as follows:
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
PPGI |
0.476 mm x 1,000 mm |
CGCC |
6,707 |
+17 |
1,033 |
+3 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,300 |
-33 |
1,125 |
-5 |
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 ($1,025/mt), RMB 7,000/mt ($1,079/mt) and RMB 6,470/mt ($997/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm PPGI prices stand at RMB 6,750/mt ($1,040/mt), RMB 7,050/mt ($1,086/mt) and RMB 8,100/mt ($1,248/mt) in the above respective markets. All prices include 17 percent VAT ($1 = RMB 6.49).
According to traders, due to increases in PPGI prices, shipments of products from the mills slowed down; however, low-priced PPGI materials sold well, and so inventories of some PPGI producers fell significantly. Currently, some PPGI producers in China have raised their prices slightly on the back of higher costs and reduced inventory pressure, with transaction volumes reported to be reasonable after the price increase.
Industry insiders expect traders will keep a close eye on China's national policy adjustments and on the situation in the international market.
Looking forward to the coming week, China's PPGI market is expected to fluctuate within a narrow range.