Color coated coil market prices remain stable overall

SteelOrbis Shanghai This week, the market prices of color coated coil remained stable on the whole, though the prices of several specifications went up a little. Meanwhile, the market trading volume and market inventory of color coated coil remained unchanged. Also during the week, some steel mills released new ex-factory prices. On February 2, 2007, the average market price of 0.476 mm color coated coil was RMB 6,750/mt ($870/mt), up RMB 33/mt ($4) compared with last week; that of 0.4 mm color coated coil was RMB 7,260/mt ($936/mt), up RMB 10 /mt ($1/mt) week on week. Meanwhile, the average market price of 0.286 mm Yieh Phui imported color coated coil was RMB 8,180/mt ($1,054/mt), up RMB 80/mt ($10). This week, the market price of color coated coil maintained its steadiness. Some thin specifications increased slightly. Market inventories and market trading volume did not change much compared with last week. On the whole, the color coated coil market remained quiet this week. Because of the rise in production costs, many privately-owned steel mills increased their ex-factory prices for color coated coil. As a result, the market price of color coated coil also went up a little. However, no expansion was seen in the quantities being purchased by customers. Meanwhile, the market inventories of color coated coil stayed at a low level. Traders expressed optimism as regards the outlook for the color coated coil market in the period after the Spring Festival (18-25 February). For the week ahead, it is expected that the market price of color coated coil will retain its steady trend. Finally, the new ex-factory price of Wuxi NewDaZhong color coated coil increased RMB100-200/mt ($13-26/mt).