Tranquil week for color coated coils

SteelOrbis Shanghai The trade volume and the market inventories of color coated coils have not changed much compared with last week, while the prices also remained stable. The average market price of 0.476 mm color coated coils decreased RMB 7/mt ($1), that of 0.4 mm color coated coils increased RMB 33/mt ($4), and that of 0.286 mm color coated coils imported from Yieh Phui increased RMB 30/mt ($4) weekly. With the approaching of May Day, the expected expansion of the market demand has not come true yet. Therefore, some traders began to sell their products at low price levels. With regards to the supply-demand relationship, neither the market demand nor the market inventories have not increased considerably compared with that in last week. According to the latest statistics, Chinese steel mills produced 190,500 metric tons color coated coils in March, up 42,500 metric tons compared with February. The main reason of the increase in production is the strong exports of Chinese steel mills. Chinese steel mills have not adjusted their ex-factory prices this week. The customers would generally increase their purchases before May Day, due to the one week long holiday. Next week is the last week before May Day, but traders are not sure whether the customers' purchases would enlarge.