SteelOrbis Shanghai
This week, the market price of
galvanized coil continued stable with just a slight increase. The
trading volume and market inventories did not change much compared with last week. The country has released its August
production statistical data of
galvanized coil, while some steel mills released new ex-factory prices this week.
On September 14, the average market price of 1.0 mm
galvanized coil was RMB 5,560/mt ($700), up RMB 17/mt ($2) compared with last week; and that of 0.5 mm
galvanized coil was RMB 5,860/mt ($738), up RMB 63/mt ($8). Meanwhile the average market price of 0.23 mm
galvanized coils imported from Bhushan,
India is RMB 7,133/mt ($905), down RMB 17/mt ($2).
The market prices of
galvanized coil remained quiet with minor increases. Market
trading volume and market inventories of
galvanized coil did not change much compared with last week. In the main, the increase in price may be attributed to the two following reasons:
1. The new ex-factory price of some steel mills remained unchanged or decreased slightly. This made the traders' purchase cost very high. In order to maintain normal profits, the traders were all obliged to increase the selling price.
2. September is a traditional sales season. Coming into September, traders thought that the downstream demand would increase and the customers would strengthen their purchases. Thus, traders kept the price stable or else increased the price slowly. Meanwhile, the low level of market inventories also enhanced traders' confidence.
This week, the country released the August
production statistical data for
galvanized coil. According to the new statistics, the August
galvanized coil
production of
China's steel mills was 1,146,300 tons, up 30,000 tons compared with July.
This week, the October ex-factory price of Benxi Steel and
Angang galvanized coil all remained unchanged.