Exports still support domestic color coated coil market

SteelOrbis Shanghai The market price of color coated coils increased slightly this week. The trade volume and inventories in the market did not change much compared with last week. The country released July export and import statistical data of color coated coils. Some mills issued new ex-factory prices. On September 1, the average market price of 0.476 mm color coated coil was RMB 6,427/mt ($808), up RMB 77/mt ($10) compared with that in last week; that of 0.4 mm color coated coil was RMB 6,983/mt ($878), up RMB 16/mt ($2), while that of 0.286 mm color coated coils imported from Taiwanese Yieh Phui was RMB 7,975/mt ($1,003), down RMB 25/mt ($3). Although the domestic trade volume did not change much compared with last week, the slight increase in galvanized coil prices and little quantity of color coated coils in the market supported the prices of this item. After Baosteel released its color coated coil prices for the fourth quarter, some small scale and middle scale color coated coil producers released the respective new ex-factory price one by one and their price kept stable or increased a little. Among them, Wuxi NewDaZhong increased its September ex-factory prices of color coated coils by RMB 50-100/mt ($6-13). Under steady ex-factory prices and low level of market inventories, many traders increased their color coated coil sales prices slightly. Because the downstream demand did not change much, the market trading volume kept stable week on week. According to the statistics, China imported 18,100 metric tons of color coated coils in July, down 9,000 metric tons compared with June. The July export of color coated coil was 45,200 tons, up 6,200 tons compared with June. In conclusion, the net export of color coated coils was 27,100 tons in July, up 15,200 tons month on month. The fact that both China's galvanized coil and color coated coil exports continued to increase month on month in July indicates; China's export is still in a good condition and will make a strong support to the development of domestic color coated coil market.