Last week, the spot price of galvanized coils continued to fall weakly. The market performance after Labor Day was poor. The production and trade ends also took the initiative to lower prices to reduce inventory when shipments were not smooth.

According to the commodity market analysis system of SunSirs, the price of galvanized coils fell across the country last week. As of May 9, the average market price of galvanized coils in the domestic market was 4265.00 RMB/ton, down 0.64% from before the holiday.

Fundamentals: With the continued weakness of hot-rolled coils this week, private galvanized coils still have a certain profit margin. Therefore, no production enterprises have taken the initiative to reduce production at present, and the overall supply continues to consolidate at a high level.

According to the latest data obtained by SunSirs, the overall operating rate of galvanized sheets this week was 81.97%; the capacity utilization rate was 64.01%, an increase of 0.25% from last week; the weekly output was 913,000 tons, an increase of 3,600 tons from last week.

At present, the real estate industry is still tepid, and the home appliance industry is gradually experiencing poor demand. Demand in May may not improve compared with April, and the market may continue to maintain a pattern of strong supply and weak demand.

After Labor Day, the overall inventory has increased. Considering the seasonal weakening of consumption, the speed of inventory clearance has slowed down, and the short-term market is under obvious pressure.

As of May 9, the inventory of steel mills across the country was 487,800 tons, an increase of 9,300 tons from the previous week; the social inventory was 1.1105 million tons, an increase of 28,200 tons from the previous week; the total inventory was 1.5983 million tons, an increase of 37,500 tons from the previous week.

Industry dynamics: According to the data of the General Administration of Customs on May 9, 2025, China exported 384.627 million household appliances in April 2025; the cumulative export from January to April was 1456.684 million units, a year-on-year increase of 9.8%.

Market forecast: On the whole, the contradiction between supply and demand is gradually manifested, and low-priced locked-in resources will gradually arrive at the warehouse, increasing inventory pressure. SunSirs expects that the price of galvanized coil will continue to adjust weakly in the short term.

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