Color coated coil prices came to a standstill

SteelOrbis Shanghai This week domestic market prices of color coated coils remained unchanged. The trade volume and the market inventories of color coated coils have not changed greatly compared with last week. Some private steel makers adjusted their ex-factory price of color coated coils this week. The price of Shenzhen Huamei color coated coils decreased RMB 200/ton ($25), that of Changshu Huaye color coated coils increased RMB 400-700/ton ($50-87), while that of Wuxi NewDaZhong color coated coils increased RMB 450-650/ton ($56-81). From the whole market price trend, the market prices of color coated coils still keep the stability. From the supply-demand relationship, the market demand and the market inventories have not changed greatly. The distributors do not foresee a significant fluctuation on color coated coil prices in the future. Looking at the exports and imports; currently Chinese color coated coil exports are more than imports. However, export quantities of some small-scale steelmakers have reduced compared to the previous weeks. Therefore, finding products to be exported from China is currently easier. On the other hand, some steelmakers prefer to limit their exports due to the rapid increase in international market prices. They expect to sell their products later, when international market prices reach to a peak. Furthermore, domestic prices have also begun to approach the overseas market levels and some mills have begun to put their products in the domestic market instead of exporting them. Nevertheless, we cannot expect an increase in China's color coated coil imports because domestic market prices stopped increasing recently and overseas prices are expected to increase further in the short term.