SteelOrbis Shanghai
This week, the market prices of
galvanized coils increased and the
trading volume began to enlarge. The market inventories of
galvanized coils enlarged a little after May Day. Some steel makers announced new prices this week.
On May 11, the average market price of 1.0 mm
galvanized coil was RMB 5,237/mt ($654), up RMB 94/mt ($12) week on week. That of 0.5 mm
galvanized coils was RMB 5,513/mt ($688), up RMB 56/mt ($7) compared with the price in the end of last week; while that of 0.23 mm
galvanized coils imported from Indian BHUSHAN was RMB 6,910/mt ($863), up RMB 77/mt ($10).
The main reason for the increase in market prices and enlargement in the trade volume this week was that the low inventories of end users, and customers began to strengthen their
galvanized coil purchases as they need more to maintain normal
production after May Day. On the other hand, traders also increased their offer prices with the expectation that prices would increase further in the future. The new
galvanized coils of steel mills began to reach the market, which added to the market inventories.
This week, some steel mills released new price lists. The ex-factory prices of Huaye
galvanized coils increased RMB 650-800/mt ($81-100), that of NewDaZhong
galvanized coils increased RMB 200/mt ($25).