Color coated coil price remains quiet

SteelOrbis Shanghai This week, the market price of color coated coil remained quiet compared with last week. The market trading volume and market inventories of color coated coil did not change much. Also during the week, the Chinese authorities released the September production data for color coated coil. On October 20, the average market price of 0.476 mm color coated coil was RMB 6,653/mt ($843), unchanged from the previous week; that of 0.4 mm color coated coil was RMB 7,110/mt ($901), up RMB 10/mt ($1) compared with the week before; while the price of 0.286 mm color coated coils imported from Yieh Phui was unchanged at RMB 8,000/mt ($1,011). This week, the market price of color coated coil remained stable. The market trading volume and market inventories of color coated coil were still unchanged. Due to the decreases in the CR and HR market prices, the attitude of traders began to change. However, the market supply of color coated coil was still at a low level, and so the market price of color coated coil showed little change. Steel mills did not adjust their ex-factory price of color coated coil this week. They have decided they need more time to observe the market prices in order to determine their ex-factory prices. It is estimated that the market price of color coated coil will maintain a steady trend next week. However, the situation does not give great cause for optimism. This week, the Chinese authorities released the September production data for color coated coil. According to the new statistics, the September color coated coil production of the Chinese steel mills was 206,100 metric tons, up 10,400 metric tons compared with August.