Due to decent demand for PPGI materials from mainstream mills like Baosteel, it is more likely that these mills will push up their prices in the short term. However, the sales volumes of private sector PPGI mills are somewhat unsatisfactory, while their profit margins have been impacted by increased raw material prices. Many of them have been waiting to see the new prices of the big state-owned producers before they make their own price adjustments.
In the meantime, the approach of the off-season has started to impact transaction activity in the market. Overall, in the coming period, it is expected that Chinese domestic PPGI prices will trend sideways.