Color coated coil market price decreases

SteelOrbis Shanghai The market price of color coated coils moved in line with the overall flat steel market in China. The market trading volume dropped slightly, while color coated coil market inventories did not change much compared with last week. On July 14, the average market price of 0.476 mm color coated coil was RMB 5,933/mt ($868), down RMB 90/mt ($11) week on week; that of 0.4 mm color coated coil was RMB 7,490/mt ($937), down RMB 87/mt ($11); while that of 0.286 mm color coated coils imported from Taiwanese Yieh Phui was RMB 8,195/mt ($1,026), down RMB 50/mt ($6). The decline of HR, CR and GI market prices and the shrinking of downstream customers' demand dragged the market price of color coated coil to the downward spiral. Although the market inventory of color coated coils have not increased much compared with last month, it has not been able to keep the prices steady, and traders are expecting further price decreases in the market. On the other hand, the big decrease in market prices led some steel mills to begin paying a certain price subsidy to their distributors, in order to compensate the distributors' losses and encourage them to sell more products. This may encourage traders to decrease their prices further in order to improve the trading volume. Steel mills have not adjusted their ex-factory prices this week.