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Mysteel: Plated/Coated steel market seen to soften amid stability in January
Jan 05, 2017  16:45:56
Abstraction: Bullish steel market pushed up coated/plated steel prices in early December, whereas, as China's spring festival is approaching, steel traders' caution dragged down prices. In January, on the one hand, softened HRC and CRC market will not give support to plated/coated steel market. What's more, demand from downstream industry softens as some downstream industries started holiday of Chinese Spring Festival one after another. On the other hand, stockpile is at lower level and production cost is still high. To sum up, price is expected to soften in a cautious market.
After gaining, plated/coated steel market softened at the end of December. The average price of galvanized steel 1.0mm in December 30 went up to 4876 yuan/tonne, indicating an increase of 386 yuan/tonn compared with that at the end of November. Meanwhile, the average price of coated steel 0.476mm went up...

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