SteelOrbis Shanghai
This week, the market prices of
galvanized coils have gone into a stable trend with slight decrease. The
trading volume became better compared with last week, and market inventories decreased a little. Some steel mills released new ex-factory price lists this week.
On August 10, the average market price of 1.0 mm
galvanized coil was RMB 5,467/mt ($686), down RMB 40/mt ($5) week on week; that of 0.5 mm
galvanized coil was RMB 5,683/mt ($713), up RMB 16/mt ($2) compared with the price in last weekend. Meanwhile the price of 0.23 mm
galvanized coils imported from Indian Bhushan is RMB 7,250/mt ($910), down RMB 53/mt ($7).
This week, the market demand enlarged slightly compared with last week. The market inventories of
galvanized coil decreased a little. Meanwhile, the market price of cold rolled and hot rolled coil remained calm recently. So, the market price of
galvanized coil kept stable basically this week and the
trading volume of traders also increased comparatively. But, because traders still kept the pessimistic attitude to the future market, the purpose of their pricing policy was mainly to improve their
trading volume and reduce their inventories in order to decrease the market risk. They did not focus on getting more money recently. This week, the steadiness of some large scale steel mills ex-factory price of
galvanized coil played certain positive effect to the stability of the
galvanized coil market price this week.
This week, the August ex-factory price of Jiangyin UnionSteel
galvanized coil kept unchanged compared with July; the September ex-factory price of
Angang galvanized coil kept unchanged compared with August.