Over the past week, downstream demand for PPGI in China still failed to indicate an improvement, while purchasing activity has been quiet. Traders have divergent views on the future prospects of the market; some of them have been willing to lower prices in order to bring in orders, while others have chosen to keep their prices unchanged. In addition, some steelmakers have issued new transaction prices and compensatory measures to ease tense relations with their distributors as current steel prices in the spot market have been lower than traders' booking prices. In this context, traders may be less inclined to reduce their own offer prices.
It is thought that PPGI prices in the Chinese domestic market will still indicate some softness in the coming week.