In the past week, the Chinese pre-painted galvanized iron (PPGI) market has generally moved on a weak trend. Average prices in the domestic PPGI market can be viewed in the SteelOrbis price reports section.
In the Chinese PPGI market, some small PPGI producers report that their order volumes are at normal levels, while some major integrated steel mills indicate that their PPGI shipment volumes are on the low side. This may be attributed to the gap between their respective prices, with the small producers' prices around RMB 200-300 ($31-47/mt) lower than the PPGI prices from the major mills.
At present, most mills are focusing on reducing their inventories. In view of decreasing transaction volumes, pessimism prevails among traders, who are adopting a wait-and-see stance. Summing up, it is expected that the Chinese PPGI market will likely fluctuate on a slight downward in the coming week.