Color coated coil price declines continuously

SteelOrbis Shanghai This week, the market price of color coated coil declined continuously. The market trading volume decreased a little and the market inventories of color coated coil did not change much compared with last week. China released June production statistical data of color coated coil. Some steel mills issued new ex-factory price lists. On July 21, the average market price of 0.476 mm color coated coil was RMB 6,667/mt ($834), down RMB 266/mt ($33) compared with that in last week; that of 0.4 mm color coated coil was RMB 7,333/mt ($918), down RMB 157/mt ($20); while that of 0.286 mm color coated coils imported from Taiwanese Yieh Phui was RMB 8,125/mt ($1,017), down RMB 70/mt ($9). Though the market inventories of color coated coil did not change much compared with last month, with the sharp GI market price decrease and the shrinkage of downstream customers' demand, the market price of color coated coil maintained the decreasing trend. The traders reduced their prices to promote sale one after another, but the result was not good. It aggravated wait-and-see attitude of the downstream customers instead. This week, China released June production statistical data of color coated coils. According to the new statistics, June color coated coil production of Chinese mills was 189,100 mt, down 19,800 mt compared with May. This week, Benxi Steel and Masteel released August price list of color coated coil. August ex-factory price of Benxi Steel color coated coil kept unchanged compared with July; that of Masteel color coated coil decreased RMB 400/mt ($50).