Color coated coil price remains stable

SteelOrbis Shanghai Last week, the market price of color coated coil remained stable. The market trading volume was unchanged compared with the previous week, while market inventories of color coated coil increased to some extent. Some steel mills also released new ex-factory prices for color coated coil. As of October 27, the average market price of 0.476 mm color coated coil is RMB 6,680/mt ($843), up RMB 27/mt ($3) compared with last week; that of 0.4 mm color coated coil remains unchanged at RMB 7,110/mt ($901); while the price of 0.286 mm color coated coils imported from Taiwanese Yieh Phui is RMB 8,000/mt ($1,011), also unchanged. Due to the decreases in CR and HR market prices, the attitude of traders began to change. However, the price of GI still remained stable and the market supply of color coated coil was still at a low level. Thus, the market price of color coated coil did not go down last week. Meanwhile, influenced by the drop in the CR and HR market price, traders began to strengthen their sales. As regards the long term, the risk of a decrease in the market price of color coated coils has increased. On the other hand, the ex-factory prices of color coated coil issued this week did not decrease, still remaining at a high level. This is a positive note, indicating steadiness of the color coated coil price in the coming period. Last week, the December price of Baosteel's color coated coil remained unchanged, while that of Jiangyin UnionSteel color coated coil increased RMB 200/mt ($25).