Relative calm continues in color coated coil market

SteelOrbis Shanghai This week, the market price of color coated coil remained stable, while the market trading volume and market inventory levels of the product continued at a low level. On January 19, the average market price of 0.476 mm color coated coil was RMB 6703/mt ($863), up RMB 16/mt ($2) compared with last week, while that of 0.4 mm color coated coil was RMB 7233/mt ($931), up RMB 23/mt ($3) compared with last week. Meanwhile, the average market price of 0.286 mm Yieh Phui imported color coated coils was unchanged from last week, still at RMB 8050/mt ($1032). During the past week, the color coated coil market remained comparatively quiet. Market inventories and market trading volume levels did not change compared with the previous week. The stability of HDG market prices was a major contributing factor to the steadiness of the color coated coil prices. Though the increase in Baosteel's ex-factory prices for color coated coil pushed the market prices higher a few days ago, the market prices of color coated coil went back down to their previous level again. This was because downstream demand for color coated coil failed to see any real expansion. For the coming week, it is expected that the steadiness of the color coated coil market price will continue.