During the week ending September 19, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have remained on a stable trend for the 13th consecutive week, while overall transaction activity has improved compared to the previous week and is now at decent levels. Average PPGI prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, due to the rising trend of domestic semi-finished steel prices in recent days, PPGI traders in China hold a positive view of the prospects for their local market. At the same time, however, some sluggishness of demand on the downstream side has caused traders to be cautious and to keep their prices stable. Since most steelmakers have lately cut their PPGI ex-works prices for October delivery, traders have stepped up their purchases from steel mills. Meanwhile, some end-users need to purchase PPGI in order to maintain their production activities, resulting in some improvements in demand for PPGI. It is expected that PPGI prices in the Chinese domestic market will continue their stable trend in the coming week.