During the week ending July 12, pre-painted galvanized iron (PPGI) prices have maintained a stable trend in the Chinese domestic market. Average PPGI prices in the Chinese market can be viewed in the SteelOrbis price reports section.
At present, demand is just moderate in the Chinese domestic PPGI market due to the low volume of construction starts in the summer. Traders have been slowly selling off materials, while not showing much interest in restocking.
While some private-owned producers have cut their production amid slack activity, large steelmakers are still not inclined to cut their outputs. Traders state that, given the excess supply in relation to demand, the market will require some time to show an improvement.
It is expected that in the coming period Chinese domestic PPGI prices will continue to follow a sideways trend.