Color coated coil price remains generally quiet

SteelOrbis Shanghai During the past week -week 46- the market price of color coated coil maintained an overall stable trend. The market trading volume has not expanded, while the market inventories of color coated coil have remained at a low level. Also during the week, the Chinese authorities released the October production data for color coated coil. On November 17, the average market price of 0.476 mm color coated coil was RMB 6,733/mt ($854), up RMB 20/mt ($3) compared with last week; the average price of 0.4 mm color coated coil was unchanged at RMB 7,143/mt ($909), while that of 0.286 mm color coated coil imported from Taiwanese Yieh Phui was RMB 8,000/mt ($1,014), also unchanged. This week, the market price of color coated coil basically did not change much, though, in some regions, the beginnings of a decline were seen. The market trading volume did not show an improvement, while market inventories also remained stable. The decrease in the galvanized iron market price put some pressure on the market price of color coated coil. As the quantity of color coated coil in the market remained at a low level and as the supply of mills to the domestic market was low, the color coated coil market price continued to maintain its stability during the week. Nevertheless, there is a high possibility of a decrease in the coming period. In the new price lists announced this week by LianYuan Steel and Benxi Steel, the prices of color coated products remained unchanged compared with the previous levels. The current ex-factory prices are thought of as providing support for the color coated coil market price. During week 46, the Chinese authorities released the October production data for color coated coil. According to the new statistics, the October color coated coil production of China's steel mills was 186,600 metric tons, down 19,500 metric tons compared with September.