Chinese market have propped up galvanized steel and coated steel prices since Chinese New Year while this uptrend price may not last too long as market is still quiet.
Referenced prices are at RMB4,737/ton for 1.0mm thick galvanized steels and RMB6,189/ton for 0.5mm thick color coated steels, which have rebounded by RMB75/ton and 150/ton respectively compared with that one week ago.
WISCO has launched its benchmark price in March, which galvanized steel and color coated steels will be lifted up by RMB300/ton.
It seems that end users tend to hold their money and wait. It is predictable that with weak market demand, the price could remain vibrated in short term.
