During the week ending July 16, pre-painted galvanized iron (PPGI) prices in the Chinese market have followed a stable trend, while market activity has registered a further weakening. As of July 16, average PPGI prices 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 |
6,173 |
- |
912 |
- |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
6,800 |
- |
1,004 |
- |
At present, CGCC 0.476 mm x 1,000 mm PPGI is sold in the Shanghai, Guangzhou and Boxing markets at RMB 6,100/mt ($901/mt), RMB 6,500/mt ($960/mt) and RMB 5,920/mt ($874/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm prices stand at RMB 6,250/mt ($923/mt), RMB 6,600/mt ($975/mt) and RMB 7,550/mt ($1,115/mt) in the above respective markets.
In the southern China market, the current situation is difficult for local private sector coated manufacturers and processors. Although some enquiries have come from overseas buyers, fewer actual transactions have been concluded compared to before. Given the uncertainties in the market, buyers mostly maintain a waiting strategy.
In the northern China market, end-users have continued their booking activities, though generally for small tonnages. Thus, the local market in the north has not suffered any great pressure from inventories. However, traders report that the current market is fairly weak.
As regards the market in the coming period, pre-painted galvanized iron (PPGI) prices in the Chinese market are expected to see some downward adjustments, though by small margins.