CC coil ex-factory price increases support market

SteelOrbis Shanghai This week, some large scale steel mills announced new prices. The increase in ex-factory prices of color coated coils also pushed up their market price slightly and traders are optimistic about the future of the market. Further increase depends on further enlargement of the market demand. Compared to the entire market price trend, color coated coil prices keep comparatively stable with slight increases. The market demand has also increased a little compared to last week. The market inventory changed very little and the trade volume went up slightly. The relatively smaller market inventory level is favorable for the development of color coated coils market in the future. This week, the market price of color coated coils kept stable on the whole, while the closing prices increased RMB 30-50/metric ton ($4-6). On February 24, the average market price of 0.476 mm color coated coil was RMB 5,733/metric ton ($712), up RMB 33/metric ton ($4) compared to last weekend; that of 0.4 mm color coated coil was RMB 6,250/metric ton ($776), up RMB 50/metric ton ($6); while that of 0.286 mm Yieh Phui imported color coated coils remained unchanged at RMB 7,225/metric ton ($898).