Color coated coil price remains unchanged

SteelOrbis Shanghai This week, the market price of color coated coil remained stable. The market trading volume and market inventories of color coated coil did not change much compared with last week. During this week, the Chinese authorities released August production statistical data of color coated coil, while some steel mills issued new ex-factory price lists. On September 15, the average market price of 0.476 mm color coated coil was RMB 6,467/mt ($814), up RMB 17/mt ($2) compared with that in last week; that of 0.4 mm color coated coil was RMB 7,003/mt ($882), up RMB 10/mt ($1) compared with last week; while that of 0.286 mm color coated coils imported from Taiwanese Yieh Phui was RMB 7,975/mt ($1,004), remained unchanged. Though the market price of upstream galvanized products increased a little this week, because the downstream customers of color coated coil, especially in building trades, were influenced by the national macro-control policy, their demand for color coated coil did not improved significantly compared with before. Meanwhile, there are plenty of medium- and small-scale privately-owned color coated coil makers in China among whom market competition is comparatively strong. In attempts to attract more customers, all traders offered preferential prices to customers. Therefore, an upwards move in color coated coil market prices was not possible. At the same time, due to the scarcity of color coated coil resources in the market, there has been little possibility recently of a significant drop in prices.. This week, the Chinese authorities released the August production statistical data for color coated coil. According to the new statistics, the August color coated coil production of Chinese steel mills was 195,700 metric tons, down 10,900 metric tons compared with July. This week, the October ex-factory price of Angang color coated coil decreased RMB 234/mt ($29); that of Benxi Steel color coated coil remained unchanged compared with September.