Galvanized coil prices in China indicate slight decrease

This week, the market price of galvanized coil in China kept decreasing in small amount. The trading volume and market inventories kept unchanged compared to last week. Some steel mills have adjusted their ex-factory prices of galvanized coil this week. On August 3, 2006, the average market price of 1.0 mm galvanized coil is RMB 5,507 per ton ($691), down RMB76 per ton ($16) compared to last week; that of 0.5 mm galvanized coil is RMB 5,667 per ton ($711), down RMB66 per ton ($8) compared to the price in last weekend; while that of 0.23 mm galvanized coils imported from Indian BHUSHAN is RMB 7,303 per ton ($916), down RMB147 per ton ($18). This week, the market demand has still been at low level. As the new GI resources supplied to the market were few, the market inventories of galvanized coil did not change much this week. Since HR market kept quiet this week, the decrease rate in the galvanized coil market price began to slow down as well. The fact that certain steel mills decreased their ex-factory price of galvanized coil this week one after another had a bad influence on the GI market. This week, the ex-factory price of Wuxi NewDaZhong galvanized coil decreased RMB 750 per ton ($94); that of Hengtong galvanized coil decreased RMB 300 per ton ($38); that of Baotou Steel galvanized coil decreased RMB 600 per ton ($75) and that of WISCO galvanized coil decreased RMB 350 per ton ($44).