During the week ending November 1, pre-painted galvanized iron (PPGI) prices continued their downtrend in the Chinese domestic market. Average PPGI prices in the Chinese market can be viewed in the SteelOrbis price reports section.
Some traders have chosen to lower their PPGI prices in order to clear inventories amid the uncertainty surrounding the future prospects of the market. In addition, many traders have been under pressure due to shortages of funds and so have lowered their prices in order to attract business and bring in cash. In this context, local PPGI prices in China have moved down in the past week.
Amid the backdrop of sluggish demand, it is expected that Chinese domestic PPGI prices will move on a slight downtrend in the coming week.