Color coated coil price increases slightly

SteelOrbis Shanghai This week, the market price of color coated coil increased slightly. The market trading volume grew comparatively while market inventories of color coated coil remained unchanged compared with last week. Some steel mills issued new ex-factory price lists. On September 22, the average market price of 0.476 mm color coated coil was RMB 6,517/mt ($824), up RMB 50/mt ($6) week on week; that of 0.4 mm color coated coil was RMB 7,047/mt ($891), up RMB 44/mt ($6); while that of 0.286 mm color coated coils imported from Yieh Phui remained unchanged at RMB 7,975/mt ($1,004). This week, with the galvanized coil market price increase, the color coated coil market price increased slightly. The market trading volume grew to some extent while market inventories of color coated coil were still unchanged. With the boost in downstream demand, customers began to strengthen their purchases. Meanwhile, the market price of galvanized coil increased a little this week. Considering the low level of market stock, the change in the relationship of supply and demand caused traders to increase their selling price slowly. When we look at the steel mills' new prices, we see that some large steel mills kept their new ex-factory price of color coated coil unchanged compared with last month. This gave traders great confidence to push the market price higher. The new ex-factory price of Baosteel and Masteel all remained unchanged.