Under the influence of the uptrend seen in recent weeks in the Chinese cold rolled coil market, local PPGI prices have also started to move up in the past week. However, the volume of inquiries received by traders has been limited.
On the mills' side, some private sector producers have cancelled their preferential pricing policies for traders, resulting in increased pressure on traders.
Amid the ongoing hot weather, work on many construction projects has been suspended and so demand from construction sites is on the low side. It is expected that in the coming week Chinese domestic PPGI prices will trend more or less sideways.