During the week ending May 24, pre-painted galvanized iron (PPGI) prices have trended down slightly in the Chinese domestic market, following the stable trend observed in the previous week. Average PPGI prices in the Chinese market can be viewed in the SteelOrbis price reports section.
During the week in question, transaction activity in the Chinese domestic PPGI market has increased slightly, with an improvement observed on the demand side, though mostly based on essential requirements and for low-priced materials. Market insiders report that steel producers have revealed their plans not to lower their list prices. Thus, in the short term, local PPGI prices are unlikely to trend down. At present, negative sentiment constitutes one of the biggest hurdles facing the market, amid uncertainty surrounding the future prospects of the market. It is thought that domestic PPGI prices in China will not indicate any significant recovery in the coming period.