PPGI orders from downstream industries on slow side in China

During the week ending June 21, pre-painted galvanized iron (PPGI) prices have again declined in the Chinese domestic market. Average PPGI prices in the Chinese market can be viewed in the SteelOrbis price reports section. 
 
Over the past week, ordering activity for PPGI by downstream industries has been insufficient in the Chinese domestic market. Some pre-painted galvanized iron producers have complained about the weak performance of the market, although overall transaction activity has been somewhat stronger than in the recent few months. So far, no indications of overhauls have been heard from steel producers, who have continued to cut their prices. Meanwhile, traders mostly anticipate further decreases in view of financial pressures and mills' announcements of lower offers. To sum up, it is expected that domestic pre-painted galvanized iron (PPGI) prices in China will continue to decline during the coming period.