During the week ending March 27, pre-painted galvanized iron (PPGI) prices in the Chinese domestic market have moved in a downward direction. Average PPGI prices in the Chinese market can be viewed in the SteelOrbis price reports section.
During the given period, due to the ongoing sluggishness of demand and shortages of liquidity approaching the end of month, PPGI traders are willing to sell materials at lower prices in order to bring in cash, resulting in declines in local PPGI market prices. However, PPGI prices in the Chinese domestic market are unlikely to indicate strong decreases in the coming period as steelmakers have issued price policies in which they require traders to sell 0.47 mm specifications at not lower than RMB 4,550/mt ($745/mt). Although this policy exerts pressure on traders' transaction activities, on the other hand it provides some support for prices in the PPGI market. It is thought that the Chinese domestic PPGI market will move on a slight downtrend in the coming week.