SunSirs: Overview of the Trend of Color Coated Sheet in October (October 1-31)

https://www.chemnet.com   Nov 01,2024 SunSirs

Price trend

According to the Commodity Market Analysis System of SunSirs, the price of color coated sheet had slightly increased this month, and the price had basically stabilized since mid month. On October 1st, the market price of aniline was 6,100 RMB/ton; On October 31st, the price was 6,500 RMB/ton. The average price of color coated sheet this month has increased by 6.55% compared to the beginning of the month and decreased by 6.01% compared to the same period last year.

Analysis review

Galvanized sheet: The price of galvanized sheet had fluctuated this month, with an increase at the beginning of the month and a decline after mid month. The price remained relatively stable at the end of the month, with galvanized sheet prices at 4,337 RMB/ton on October 1st and 4,330 RMB/ton on October 31st, a decrease of 0.16% from the beginning of the month and 17.6% from the same period last year. The downstream demand in the coating market was lukewarm, and market transactions were relatively weak.

Market outlook

According to incomplete statistics from Mysteel, as of October 30th, 17 listed steel companies announced their performance for the first three quarters of 2024. In terms of net profit, 12 companies achieved profitability, with Baosteel Group ranking first with a net profit of 5.882 billion RMB.

This year, the steel market has been affected by both the economic cycle and the industrial cycle downturn, presenting an overall trend of "strong supply and weak demand". Steel production enterprises are also fully utilizing the price and efficiency advantages of China's steel exports, despite the limited increase in domestic consumption. According to data from the General Administration of Customs, China exported 10.153 million tons of steel in September 2024, an increase of 658000 tons from the previous month and a month on month growth of 6.9%; From January to September, the cumulative export of steel reached 80.711 million tons, a year-on-year increase of 21.2%. In terms of tinplate varieties, the total export volume of tinplate in China in September 2024 was 169,100 tons, a year-on-year increase of 89.36%, showing a promising growth trend.

Considering the arrival of the off-season, although most factories' costs continued to rise, their shipping mentality continued, and their offers remained strong at high levels. This week, most of the domestic facilities started working normally, but production and sales have not yet been balanced, and inventory was accumulating. It is expected that the price of color coated sheets will remain stable in the short term.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

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