Color coated coil price remains stable overall

SteelOrbis Shanghai During the 48th week, the market price of color coated coil remained stable on the whole, recording just a slight decrease. In addition, the market trading volume and inventory levels of color coated coil remained unchanged compared with last week. Exports shrank in November and led ex-factory prices to remain unchanged. On December 1, the average market price of 0.476 mm color coated coil was RMB 6,707/mt ($857), down RMB 33/mt ($4) compared with last week; that of 0.4 mm color coated coil was RMB 7,110/mt ($908), down RMB 33/mt ($4); while the average price of 0.286 mm color coated coil imported from Taiwanese Yieh Phui was RMB 8,000/mt ($1,014), unchanged from last week. Due to the continuing bad weather, customer demand was still at a low level while the market trading volume failed to see any turn for the better. However, the color coated coil available in the market was at a continuous low. Meanwhile, because some steel mills overhauled their production lines recently and also continued to keep their focus on exports, the supply from the mills to the domestic market was still at a low level. Thus, the market price of color coated coil remained comparatively stable. Also this week, the ex-factory prices which were released by some of the steel mills were unchanged from the previous week. This played a positive role in stabilizing the attitude of the traders. The Chinese authorities released the October export and import data for color coated coil. According to the new figures, October imports of color coated coil amounted to 23,000 tons, down 100 tons compared with September. Meanwhile, October exports of color coated coil reached 50,800 tons, down 16,100 tons compared with the previous month. Thus, net exports of color coated coil totalled 27,800 tons in October, down 16,000 tons.