Traders pessimistic and cautious in local Chinese PPGI market

During the week ending May 23, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have remained on a stable trend, while transaction activity has continued to be sluggish.
 
While quoted prices for PPGI in the Chinese domestic market have remained stable, there has been some room for negotiation on transaction prices due to the slack demand. Most downstream users' volumes of PPGI purchases are down by around 20 percent year on year, though some have been purchasing similar volumes compared to a year ago. Traders are pessimistic about the future prospects for the market and are cautious about concluding transactions. It is expected that PPGI prices in the Chinese domestic market will mostly follow a stable trend in the coming week, with some slight downticks also possible.