During the week ending January 30, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have continued to indicate a stable trend, while overall transaction activity has remained slack. Average PPGI prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, with some PPGI producers halting their production ahead of the Spring Festival holiday (Feb. 18-24) and no longer issuing offer prices, PPGI market prices have remained on a stable trend. Market players are unwilling to lower their sales prices further as prices in the market are already considered to be at very low levels. Nevertheless, high iron ore inventory levels have been exerting some negative pressure on the finished steel markets. At the same time, HRC prices have softened, which may influence the trend of domestic PPGI prices. It is expected that PPGI prices in the Chinese domestic market will remain on a stable trend or indicate a slight downtrend in the coming week.
$1 = RMB 6.25