The prices of galvanized steel coils (GI) and prepainted galvanized steel coils (PPGI) went down a bit last week (Dec.01-Dec.07, 2014).
The news of the measures taken by the government to encourage the growth of the economy becomes a big support of the steel price. The central bank announced to lower down 0.5 percent of the interest rate. This measure has excited the stock market and real estate market of China. However the current steel demand in North China is becoming worse and worse in winter. The production of the steel factories has returned to be normal. The supply is still bigger than the demand right now. The steel price may still go down for some weeks and then become stable.
The price may still go down a bit this week.