During the week ending July 20, the Chinese pre-painted galvanized iron (PPGI) market has mostly followed a sideways trend, with some small decreases also seen. Average PPGI prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
Buying activity in the Chinese PPGI market has remained slack. Although most major mills have announced new prices for August, not many changes have been made to prices of PPGI. Market insiders still point to weak downstream demand as the principal negative factor affecting the market. In addition, with increased new arrivals of PPGI products, traders are now under greater pressure and so another round of price decreases is possible.
Overall, given the sluggish economic environment, low demand from downstream users and the shrinkage of export orders, Chinese PPGI traders are adopting a cautious approach and are delaying their purchases. Looking towards the coming week, the Chinese PPGI market is expected to indicate a soft trend.