Chinese EGI coil prices decrease
2015-09-16 09:28:36 [Print]
BEIJING (Asian Metal) 16 Sep 15 - The EGI coil market in China performs inactively at this moment, with prices coming down and demand weakening from downstream consumers. Insiders predict that it is unlikely that prices of EGI coil will rebound in the short term.
A trader in Shanghai states that the price of SECC-N5 1.0mm*1,250mm*C (with anti-finger print treatment) from Baosteel is RMB4,550/t (USD715/t) VAT included, down by RMB20/t (USD3/t) compared with that of a week ago.
As an agent of Baosteel, the source reveals that there is little activity in the market at the moment as the demand from home-appliance industry remains very weak. His inventory is around 400 tons at the moment, which is less than the regular level of 800-1,000 tons in Q1 of this year. However, the source states he is bearing heavy pressure from reducing stocks. “If customers have firm orders, I can further provide a discount of RMB20/t (USD3/t) to them,” he says, showing little optimism for the market outlook.
A trader in Foshan, Guangdong Province says the price of SECC-AFP 1.0mm*1,250mm*C (with anti-finger print treatment) from Douyuan Steel is RMB3,950/t (USD620/t) VAT included, down by RMB50/t (USD8/t) compared with that of a week ago.
Noted by the source, prices of EGI coil went down by RMB150-200/t (USD23.5-31/t) in the past month. However, the market performance failed to see any improvement during that time. His regular inventory for EGI coil was around 700 tons before May of this year but he refuses to hold stocks in order to avoid potential risks at this moment. “If customers come to me with firm orders, I will purchase some materials with limited volume from Douyuan Steel,” he says, adding that he will continue to be cautious about the market in the near future.
A trader in Shanghai states that the price of SECC-N5 1.0mm*1,250mm*C (with anti-finger print treatment) from Baosteel is RMB4,550/t (USD715/t) VAT included, down by RMB20/t (USD3/t) compared with that of a week ago.
As an agent of Baosteel, the source reveals that there is little activity in the market at the moment as the demand from home-appliance industry remains very weak. His inventory is around 400 tons at the moment, which is less than the regular level of 800-1,000 tons in Q1 of this year. However, the source states he is bearing heavy pressure from reducing stocks. “If customers have firm orders, I can further provide a discount of RMB20/t (USD3/t) to them,” he says, showing little optimism for the market outlook.
A trader in Foshan, Guangdong Province says the price of SECC-AFP 1.0mm*1,250mm*C (with anti-finger print treatment) from Douyuan Steel is RMB3,950/t (USD620/t) VAT included, down by RMB50/t (USD8/t) compared with that of a week ago.
Noted by the source, prices of EGI coil went down by RMB150-200/t (USD23.5-31/t) in the past month. However, the market performance failed to see any improvement during that time. His regular inventory for EGI coil was around 700 tons before May of this year but he refuses to hold stocks in order to avoid potential risks at this moment. “If customers come to me with firm orders, I will purchase some materials with limited volume from Douyuan Steel,” he says, adding that he will continue to be cautious about the market in the near future.
