Color coated coil prices keep decreasing in China

This week, the market price of color coated coil kept decreasing. The market trading volume and the market inventories of color coated coil did not change much compared to last week. Wuxi NewDaZhong adjusted color coated coil ex-factory price this week. On August 4, the average market price of 0.476 mm color coated coil was RMB 6,417 per ton ($805), down RMB 200 per ton ($25) compared to last week; that of 0.4 mm color coated coil was RMB 7,267 per ton ($912), down RMB 33 per ton ($4) compared to last week; while that of 0.286 mm Yieh Phui imported color coated coils was RMB 8,000 per ton ($1,004), down RMB 50 per ton ($6). This week, the market inventories of color coated coil did not change much compared to last week. The low level of market demand made traders' sales difficult. It also forced steel mills to adjust their ex-factory price of color coated coil again and again. On the one hand, steel mills decreased their ex-factory price; on the other hand, steel mills gave price subsidy to their dealers. However, with the low market demand, the price adjustment of steel mills could not increase the total market trading volume, but instead it strengthened the wait-and-see attitude of customers and made the market price decrease further. This week, the price of Wuxi NewDaZhong color coated coil decreased RMB 700 per ton ($88).