In the past week, the Chinese pre-painted galvanized iron (PPGI) market has generally moved sideways, though with some slight declines, while traders' transaction activity has improved as compared to the previous week. Average PPGI prices in the local Chinese markets can be viewed in the SteelOrbis price reports section.
Traders in China's PPGI market have increased their booking activity in the past week, though demand from construction projects has slowed down due to the rainy weather. With continuing arrival of PPGI materials from Baosteel, traders state that they are coming under increasing inventory pressure. After mills pushed up prices in previous weeks, traders' PPGI prices are currently lower than the mills' prices. Generally speaking, due to insufficient demand there is a lack of support for price increases at the current time.
It is thought that the Chinese PPGI market may fluctuate on a slightly soft trend in the coming week.