During the week ending June 14, pre-painted galvanized iron (PPGI) prices have mostly been stable in the Chinese domestic market, while a few minor downticks have also been seen. Average PPGI prices in the Chinese market can be viewed in the SteelOrbis price reports section.
During the past week which included the Dragon Boat Festival, prices in the domestic PPGI market have not indicated any significant changes. Amid feeble market activity, traders have been adopting a cautious approach in their operations. At present, downstream demand is weak as construction projects have been postponed with the arrival of summer.
In line with the existing imbalance between supply and demand, PPGI prices in the Chinese domestic market are not expected to recover in the near term.