During the week ending August 1, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have continued their stable trend for the sixth consecutive week, while overall transaction activity has remained at poor levels. Average PPGI prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, traders' inventories of PPGI have been on the low side, while traders are uncertain regarding the prospects for the market in the coming period. Domestic PPGI prices are already considered to be at low levels and so no significant declines in prices are foreseen. Slack transaction activity has contributed to the limited profits of traders. While demand from downstream industries will likely pick up in August, market players are still waiting to see the expected improvement in activity. It is expected that domestic PPGI prices will remain on a sideways trend in the coming week.