Price trend

According to the commodity market analysis system of SunSirs, the price of color coated sheets fell slightly last week. The market price of color coated sheets was 6,516 RMB/ton on October 27 and 6,516 RMB/ton on October 31, showing a trend of stabilization compared to the previous week, and an increase of 0.246% compared to the same period last year.

Analysis review

Galvanized Sheet: Galvanized sheet prices rose slightly last week. On Friday (October 31st), the price was 4,199 RMB/ton, up 0.214% from the previous week and down 4.13% from the same period last year. Downstream demand in the coated steel market remained lukewarm, and market transactions were sluggish.

Market outlook

Last week, the supply of the five major steel products was 8.7529 million tons, up 1.2% week-on-week, with rebar production showing a more significant increase; total inventory was 15.1374 million tons, down 2.6% week-on-week; weekly consumption was 9.1642 million tons, with building material consumption up 5.1% week-on-week and plate consumption up 1.3% week-on-week.

Considering the approaching off-season, most factories, despite rising costs, remained committed to selling, keeping their offers high and firm. Last week, most domestic plants were operating normally, but production and sales were not yet balanced, and inventorywas slightly accumulating. It is expected that the price of color coated sheets will remain relatively stable in the short term.

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