During the week ending May 4, the Chinese pre-painted galvanized iron (PPGI) market has been following a stable trend against a backdrop of weak demand. Average prices of PPGI in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
The past week has been the third consecutive week in which PPGI prices in the Chinese domestic market have moved on a sideways trend. As for the market in the future, traders are quite worried especially on account of decreasing market activity. In May, activity in the market is expected to decline further, putting downward pressure on prices.
Given the recession in the real estate market and the ongoing delays of construction projects, demand for PPGI products in China is lower than expected. Some traders plans to conclude deals at below their cost levels in order to bring in cash. Amid the current lackluster demand, it is thought that the market may move downwards in the coming period.