SteelOrbis Shanghai The domestic market price of
galvanized coil kept quiet throughout the week in
China. The
trading volume increased slightly and market inventories did not change much compared with last week. The weather is getting cooler and the
galvanized coil purchasers are resuming their
production. Therefore, the domestic demand for
galvanized coils turned better slightly this week and the
trading volume increased a little. Market inventories of
galvanized coils did not change much compared with last week. The market price of
HRC increased a little in the last few days. However, it has not pushed
galvanized coil prices up yet.
Baosteel announced approximately RMB 550/mt ($69) increase on its
galvanized coil ex-factory prices this week for the fourth quarter. It has been received as good news for the market and traders, and may play a positive role on the future market trend. However, whether downstream customers would accept
Baosteel's ex-factory price increase is not certain yet. Meanwhile, Lianyuan Steel announced that it is keeping
galvanized coil prices unchanged. On August 24, the average market price of 1.0 mm
galvanized coil was RMB 5,483/mt ($686), that of 0.5 mm
galvanized coil was RMB 5,717/mt ($716), and that of 0.23 mm
galvanized coils imported from Indian Bhushan was RMB 7,233/mt ($905). None of the prices changed week on week.