Color coated coil price keeps stable

SteelOrbis Shanghai The market price of color coated coils kept generally stable last week. The trading volume in the market did not change much compared with the previous week, and color coated coil market inventories decreased slightly. Benxi Steel announced new ex-factory prices. On August 18, the average market price of 0.476 mm color coated coil was RMB 6,367/mt ($797), down RMB 16/mt ($2) week on week; that of 0.4 mm color coated coil was RMB 7,017/mt ($878), down RMB 73/mt ($9); and that of 0.286 mm color coated coils imported from the Taiwanese Yieh Phui remained unchanged at RMB 8,000/mt ($1,004). Due to the influence of bad weather and the short supply of electricity, both color coated coil production and the market demand for them have decreased slightly week on week. Color coated coil market inventories decreased slightly and the market demand did not change much. Similar to hot rolled, cold rolled and galvanized iron market prices, the prices of color coated coil kept quiet too. Baosteel will release its fourth quarter ex-factory prices next week. All traders are expecting Baosteel to increase its prices, as a support to the market. Meanwhile, Benxi Steel decreased its September ex-factory prices for color coated coils by RMB 350/mt ($44).