SteelOrbis Shanghai
This week, the market price of
galvanized coils increased continuously.
Angang Steel and
WISCO increased their
galvanized coils ex-factory price further but the market inventories of
galvanized coils fell slightly compared to that of last week. Therefore traders raised their offer prices continuously. On the other hand, as the high market price is not accepted by end users, the market risk is high.
On March 8, the average market price of 1.0 mm
galvanized coil was RMB 5,033/mt ($626), up RMB 216/mt ($27) from the previous week; that of 0.5 mm
galvanized coil was RMB 5,300/mt ($659), up RMB 160/mt ($20) weekly; while that of 0.23 mm Indian Bhushan imported
galvanized coils was RMB 6,567/mt ($817), up RMB 300/mt ($37).
Because of the short supply of thick
galvanized coils, the increase range of thick specification was still bigger than that of others this week and the average range reached RMB 216/mt ($27). Meanwhile, as
India boosted its export price of
galvanized coils, the market price of
galvanized coils imported from
India increased greatly in this week. Overall, all varieties' prices were still in strong upward trend with average range of RMB 160-300/mt ($20-37). In addition to
Angang Steel and
WISCO's ex-factory price increases, less
galvanized coil supplies in the market and growing market demand support
galvanized coils' market prices.
Currently, the total market inventory of
galvanized coils is still at a low level excluding Boxing market, as the
galvanized coil producers reduced their supply to the market although dealers submitted new orders to steel mills.
At weekend, the prices of hot rolled steel and cold rolled steel decreased a little, which may have some bad influence on the
galvanized coils' market prices. The market prices of
galvanized coils are currently stable.