During the week ending March 23, the Chinese pre-painted galvanized iron (PPGI) market has remained stable. Average prices of PPGI in China can be viewed in the SteelOrbis price reports section:
After major domestic producer Baosteel issued its new price policy, activity in China's PPGI market began to see a slight increase on the whole. Some traders have raised their offers slightly, but some materials at higher prices declined in price due to the relatively low order volume. Overall, mainstream prices in the Chinese PPGI market have moved on a stable trend this week.
Arrivals of PPGI in the market from the steel mills are not at high levels, and so overall market inventory is still on a slight downtrend. However, traders generally lack confidence in the current economic conditions. Meanwhile, some traders under financial pressure have continued to ship normal volumes.
On the whole, the price trend in the PPGI market still depends mainly on demand from end-users. It is expected that PPGI prices in the domestic market will maintain a stable trend in the coming week.