Color coated coil price increases slightly

SteelOrbis Shanghai This week, the market price of color coated coil increased slightly compared with the pre-National Day level. The market trading volume grew while market inventories of color coated coil did not change much. Some steel mills issued new ex-factory price lists. On October 13, the average market price of 0.476 mm color coated coil was RMB 6,653/mt ($841), up RMB 120/mt ($15) compared with last week's price; that of 0.4 mm color coated coil was RMB 7,100/mt ($898), up RMB 47/mt ($6) compared with last week; while the price of 0.286 mm color coated coil imported from Yieh Phui was RMB 8,000/mt ($1,011), up RMB 25/mt ($3). After the National Day holiday, the market price of color coated coil increased to some extent. The market trading volume grew a little, while market inventories of color coated coil remained unchanged. Customers also began to strengthen their purchases. On the other hand, market supply of color coated coil was still at a low level. As a result, traders generally hiked their sale prices. Meanwhile, the steadiness of CR and GI prices also gave great support to the market price of color coated coil. As regards the new steel mill prices issued this week, the ex-factory prices remained basically unchanged or else underwent a comparative increase. For example, the new ex-factory prices of Angang and WISCO color coated coil remained unchanged. Meanwhile, NewDaZhong's price for color coated coil increased RMB 150/mt ($19). This supported the confidence of the traders in the market prices for the post-National Day period.