Galvanized coil market prices in decreasing trend

SteelOrbis Shanghai This week, the market price of galvanized coil kept the decreasing trend. The trading volume dropped comparatively and market inventories did not change much compared with last week. Some steel mills adjusted the ex-factory price of galvanized coil this week. On July 6, the average market price of 1.0mm galvanized coil was RMB 5,940/mt ($743), down RMB 117/mt ($15) compared with last week; that of 0.5 mm galvanized coil was RMB 6,043/mt ($756), down RMB164/mt ($21) compared with last weekend; while that of 0.23 mm galvanized coils imported from India BHUSHAN was RMB 7,867/mt ($985), down RMB 13/mt ($2). This week, under the influence that the market demand of galvanized coil dropped continuously, though the market inventories of galvanized coil were still at low level, the market price of galvanized coil decreased continuously and the trading volume decreased further compared with last week. This week, the galvanized coil ex-factory price decrease of some privately owned steel mills had a great impact on the trader's attitude. For example, the decrease of Tangshan Hengtong ex-factory price of galvanized coil caused the market price of Hengtong galvanized coil on Shandong Boxing market to drop by about RMB 600/mt ($75) and it also had certain influence on the market price of other steel mills galvanized product. Meanwhile, the export price of China galvanized coil dropped a little compared with last month. So, on the whole, the market price of China galvanized coil began entering the downward trend with fluctuation. This week, the ex-factory price of Tangshan Hengtong galvanized coils went down RMB 200/mt ($25), and that of Wuxi NewDaZhong galvanized coils went down RMB 50-100/mt ($6-13), while that of Angang went up RMB 100/mt ($13).