This week, the galvanized steel price in Shanghai remains stable as reported by traders, with suppliers focusing on maintaining their output. Overall, the market for galvanized steel coils in Shanghai is showing a weak downward trend.

On one hand, the market for high-zinc coated steel coil in Shanghai saw some price reductions of 10 yuan/ton, with limited shipments. As steel mills increase their future orders, traders are in a hurry to recoup funds and reduce inventory pressure. Traders reported that due to traffic control, social inventory decreased this week, but it is expected to see a significant increase next week with the arrival of more port shipments. On the other hand, the hot-rolled coil futures index fell this week, making traders of pickled and passivated seamless steel tubes more cautious. Overall, it is anticipated that the future price of zinc-coated steel coil in Shanghai will mainly see a narrow range of downward fluctuations.