During the week ending November 29, pre-painted galvanized iron (PPGI) prices in the Chinese domestic market have remained on a stable trend, while transaction activity has been slack. Average PPGI prices in the Chinese market can be viewed in the SteelOrbis price reports section.
In the given week, some PPGI mills have issued their settlement prices for November, which were higher than expected. In addition, production costs have decreased slightly, positively impacting the profit margins of PPGI producers. However, PPGI prices in the Chinese domestic market have followed a stable trend as traders maintain a wait-and-see stance as regards the prospects for the future market. On the other hand, local PPGI prices will likely eventually trend down due to weak demand and slack transaction activities in the downstream market.
For the coming week, however, it is thought that the Chinese domestic PPGI market will mostly continue its stable trend, with some slight fluctuations possible.