During the week ending December 30, pre-painted galvanized iron (PPGI) prices in the Chinese domestic market have dropped down significantly, following the neutral trend seen in the previous week. Average PPGI prices in China can be viewed in the SteelOrbis price reports section.
In the given week, PPGI traders in China have been eagerly pushing out their inventories at low prices due to their concerns about the prospects for the market as the Chinese Lunar New Year holiday approaches. At present, Baosteel PPGI materials are scarce in the market, while PPGI materials from other domestic mills are relatively plentiful. In order to achieve minimum inventory levels, traders are quite flexible in their offers.
On the whole, there is now less confidence observed in the Chinese PPGI market as regards the future. In the coming week, PPGI prices in China are expected to trend down, but at a slow pace.