Color coated coil price decreases in China

SteelOrbis Shanghai Last week, the market price of color coated coils decreased comparatively with a small range. The market trading volume and the market inventories of color coated coils did not change much compared with the previous week. June export and import statistical data of color coated coils have been released, and Baosteel adjusted its color coated coil price this week. On July 28, the average market price of 0.476 mm color coated coil was RMB 6,617/mt ($829), down RMB 50/mt ($6) week on week; that of 0.4 mm color coated coil was RMB 7,300/mt ($915), down RMB 33/mt ($4); while that of 0.286 mm color coated coil imported from Taiwanese Yieh Phui was RMB 8,050/mt ($1,009), down RMB 75/mt ($9). This week, the market inventories of color coated coils did not change much compared with last month. But, with the continuous decline in GI market price and the low level of downstream customers' demand, the market price of color coated coil maintained the downwards trend. Baosteel's and some small scale color coated coil makers ex-factory price decline supported the wait-and-see attitude of the downstream customers. Chinese institute of statistics released June export and import statistical data of color coated coil. According to the latest statistics, 27,100 metric tons of color coated coils were imported in June, up 5,100 metric tons month on month. Meanwhile 39,000 metric tons of color coated coils were exported, up 14,300 metric tons month on month. So, the net export of color coated coil was 11,900 metric tons, up 9,200 metric tons from May. This week, Baosteel's <0.5 mm CGCC 2/1M color coated coil ex-factory price decreased RMB 200/mt ($25).