During the week ending December 13, pre-painted galvanized iron (PPGI) prices in the Chinese domestic market have continued their stable trend, while there has been a slowdown in transaction activity. Average PPGI prices in the Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, most Chinese mills have decreased their PPGI prices for January delivery, with Wuhan Iron and Steel Co. (WISCO) reducing its prices by $16/mt, while,on the other hand, Baosteel has increased its PPGI prices by $16/mt for first quarter deliveries. Oversupply of PPGI still prevails in northern China, with few transaction being concluded at higher price levels. Meanwhile, due to the approach of the end of the year, most traders prefer to keep their inventories at low levels. As regards the coming week, it is expected that Chinese domestic PPGI prices will move mostly on a stable trend, with some slight decreases also possible.