During the week ending May 25, mainstream quotations of pre-painted galvanized iron (PPGI) in the Chinese domestic market have trended down. Average prices of PPGI in China can be viewed in the SteelOrbis price reports section.
After a four-week sideways trend, the domestic PPGI market has seen downward movement again in the past week. However, the decreased prices have failed to boost demand. Traders state that they are under increasing pressure as the prices of products supplied directly from the mills to the market and to end-users are attractive. Moreover, with many mills' prices of flat steel for June indicating decreases, traders lack confidence in the future prospects for the PPGI market. Market players are waiting for output cuts by mills and increased demand in the downstream market, in the hope that these will help to revive the PPGI market.
It appears difficult for the domestic PPGI market to emerge from its downward movement in the near term.