Slow activity and rising inventory in local Chinese PPGI market

Friday, 16 January 2015 12:22:21 (GMT+3)   |   Shanghai
       

During the week ending January 16, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have continued to indicate a stable trend, while overall transaction activity has remained slack. Average PPGI prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
 
During the given week, with semi-finished steel prices continuing to move down and hot rolled coil (HRC) prices also moving on a declining trend, local PPGI prices in China have been unlikely to indicate any upward movement, also due to rising inventory levels. Traders have been willing to lower their prices in actual transactions in order to ease inventory pressure. Meanwhile, most producers plan to start the holiday period, ahead of the Spring Festival (February 18-24), as of the end of the current month, and so their outputs will be impacted. Market participants are pessimistic on the prospects for the market in the period before the Spring Festival. It is expected that PPGI prices in the Chinese domestic market will remain on a stable trend in the coming week.

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