Price trend

According to the SunSirs Commodity Market Analysis System, prices for color coated steel sheets remained stable this week. On April 6, the market price stood at 6,333 RMB/ton; by April 10, the price remained unchanged at 6,333 RMB/ton. While prices held steady compared to the previous week, they represent a decline of 6.177% compared to the same period last year.

Market analysis

Galvanized Sheet: This week, prices for galvanized sheets rose slightly before trending downward. As of Friday (April 10), the price stood at 4,127 RMB/ton—a decrease of 0.121% compared to last week and 5.603% compared to the same period last year. Downstream demand within the coated and plated steel market remained lackluster, resulting in sluggish market trading activity.

This week, the supply of the five major steel product categories totaled 8.5848 million tons—a week-on-week increase of 69,700 tons, or 0.8%. Total inventory stood at 18.1292 million tons, representing a week-on-week decrease of 375,300 tons, or 2.0%. Apparent consumption reached 8.9601 million tons, down 0.3% from the previous week; specifically, consumption of construction materials rose by 0.1%, while consumption of plate products declined by 0.5%.

Supply and Demand Fundamentals: Supply is contracting, while demand remains weak.

1. Supply Side: Production Declines, Inventories Deplete

In late March, the daily output of crude steel fell by 1.7% month-on-month, while steel product inventories dropped by 7.6%; this contraction in supply and accelerated inventory depletion provide favorable support for the color coated steel sheet market.

Although production restrictions associated with the heating season have ended—leading to the resumption of operations at private rolling lines—overall supply remains at a relatively low level, and the market faces no significant pressure from excess stock.

2. Demand Side: A Subdued Peak Season; Procurement Driven by Immediate Needs

Construction: New real estate starts remain weak; while the "Guaranteed Delivery of Homes" initiative supports demand in the project completion phase, the overall release of this demand remains sluggish.

Home Appliances: Demand for color coated steel sheets in the home appliance sector is projected to reach 1.75 million tons in 2026. Refrigerators and washing machines constitute the primary drivers of this demand, which is expected to remain stable but without any explosive growth.

Market Transactions: End-users are predominantly engaging in high-frequency, small-batch procurement driven by immediate, essential needs. They demonstrate low tolerance for high prices, and speculative demand remains subdued.

Costs and Policy: Costs Remain Firm, Policy Provides a Floor

Mill Price Adjustments: Baosteel has raised the base price for its April shipments of color coated steel by 200 RMB/ton. Bayi Steel has increased prices by 130 RMB/ton within Xinjiang and by 150 RMB/ton in the Qinghai-Tibet region, reflecting strong support from the cost side.

Elevated Raw Material Costs: Prices for hot-rolled substrates, coatings, and coke remain firm; consequently, the cost floor for color coated steel sheets has risen, leaving limited room for further price declines.

Supportive Policies: Various government initiatives—such as the "new supply linked to existing inventory" mechanism in the property sector, the acquisition of commercial housing for use as affordable housing, and financing support for the completion of unfinished residential projects—are gradually providing a floor for steel demand.

Market Outlook

Price: Expected to fluctuate within a narrow, slightly bullish range of 6,300–6,400 RMB/ton; significant surges or sharp declines are unlikely.

Drivers: Cost support serves as the upside ceiling, while weak demand acts as the downside floor; the pace of inventory destocking remains the key variable.

Strategy: Traders should adopt a "quick-in, quick-out" approach to reduce inventory and accelerate cash recovery; downstream users should procure on an "as-needed" basis and restock on price dips.

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