During the week ending August 22, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have remained on a stable trend for the ninth consecutive week, while overall transaction activity has continued to be quiet. Average PPGI prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Currently, PPGI supplies from domestic steelmakers are on the short side, providing a certain degree of support for PPGI prices in the spot market. The tight supply from steelmakers will result in tightness of supply on the traders' side. However, at the same time demand from downstream industries is unlikely to see any significant improvement and is expected to remain slack. It is expected that PPGI prices in the Chinese domestic market will remain stable in the coming week as supply and demand will remain in equilibrium at low levels.