During the week ending April 26, the Chinese domestic pre-painted galvanized iron (PPGI) market has moved on a slight downtrend. Average PPGI prices in the Chinese market can be viewed in the SteelOrbis price reports section.
The ongoing decreases in the overall Chinese domestic steel market have been exerting a negative impact on the PPGI market. In addition, steelmakers have reduced their flat steel prices for May delivery. Moreover, no significant improvement has been observed in transaction volumes in late April.
The declines in local PPGI prices have so far been less frequent and smaller than the decreases for upstream products like HRC. With the increased price gap between PPGI and other steel products, it is thought that PPGI prices in the Chinese domestic market will likely move down further in the short term.