During the week ending August 8, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have continued their stable trend for the seventh consecutive week, while overall transaction activity has remained at low levels. Average PPGI prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Traders have stated that their profit margins are limited due to the relatively low levels of PPGI prices. Accordingly, they have been unwilling to lower their selling prices even though overall transaction activity in the market has been slow. Demand from downstream industries remains slack and is unlikely to see an improvement in the short term. It is expected that PPGI prices in the Chinese domestic market will remain on their sideways trend in the coming week amid the equilibrium between supply and demand.