Color coated coil price increase slowing down

SteelOrbis Shanghai Market prices of color coated coils continued increasing last week, although the range was small. The trade volume was weaker than the previous week, and the market inventories of color coated coils went up a little. Some steel mills adjusted their color coated coil ex-factory prices. On June 16, the average market price of 0.476 mm color coated coils was RMB 7,180/mt ($898), up RMB 123/mt ($15) week on week, that of 0.4 mm color coated coil was RMB 7,583/mt ($948), up RMB 166/mt ($21), while that of 0.286 mm color coated coils imported from Taiwanese Yieh Phui was RMB 8,245/mt ($1,024), up RMB 45/mt ($6). Most traders thought that, the producers had increased color coated coil ex-factory prices by a large range. Therefore the purchasing costs of the traders for future purchases are relatively higher and a decline in the market price is not quite possible. In addition, although the inventories are at a low level, the market requires a stronger demand from end-users of color coated coils. This week, NewDaZhong's color coated coil ex-factory price increased RMB 350-450/mt ($44-56), that of Masteel increased RMB 200/mt ($25).