During the week ending December 14, pre-painted galvanized iron (PPGI) prices have been stable in the Chinese domestic market. Average PPGI prices in the Chinese market can be viewed in the SteelOrbis price reports section.
Entering the traditional season of low demand in winter, trading activity in northern China has been very weak due to heavy snow, while trading in southern China has been on the slack side.
Major domestic producer Baosteel this week increased its PPGI prices for January shipment by RMB 100/mt ($15/mt). Market insiders think that other major Chinese steelmakers may follow the example of Baosteel and increase their ex-works prices, which could have a positive knock-on effect on PPGI prices in the Chinese market in the future.
As for the short-term, PPGI prices are expected to remain stable in the Chinese market.