Color coated coil prices down slightly

SteelOrbis Shanghai Color coated coil market prices which were affected from strong increases in ex-factory price increases in the previous weeks saw around RMB 10/mt ($1) correction last week, also with the impact of increased color coated coil imports in March. Especially the latest ex-factory price increase of Baosteel was too high; therefore, the demand for Baosteel's products went down. Consequently, the market price of Baosteel's color coated coils began to drop slowly, which was followed by decreases for the prices of other mills' products. Meanwhile, Handan Steel increased its ex-factory price of color coated coils last week by RMB 600/mt ($75). Compared to galvanized coils, overall market prices of color coated coils were steadier and did not fluctuate strongly. According to the latest statistics, China's March imports of color coated coils were 35,300 metric tons, up 8,700 metric tons from February, while the exports were 25,200 metric tons, up 3,800 metric tons. So, the net import of color coated coils was 10,100 metric tons in March, up 4,900 metric tons month on month. Color coated coil prices may increase slightly after the one week long May Day holiday which began today.