Stainless Steel CR Coil Prices Trend in the second quarter of 2023 | ChemAnalyst

For the Quarter Ending June 2023

North America

The US Stainless Steel CR Coil Sheet showed an initial increase in the second quarter of 2023 before beginning to decline in the third quarter. In April, the rise in the price of nickel as a feedstock on the international market helped to lower production costs for Stainless Steel CR Coil. Because of robust consumer spending at the beginning of the quarter, the consumer price index was higher than average, signaling a strong start to the second quarter's economy. The robust domestic downstream demand helped to keep the consumption rate on the higher side. The service industry experienced tremendous expansion, and because of rising customer demand, was able to offer services at higher offer prices. Because of the debt crisis and the rising rate of inflation, prices decreased somewhat significantly in the second quarter of H2. The formerly steady US economic system collapsed, and the market environment turned gloomy. As a result of the agreement the US government reached to extend the debt for two more years and the stability of US economic conditions, the price of the Stainless-Steel CR Coil Sheet increased in June. Consumer purchasing power was lowered because of the interest rate increase, increased living expenses, and diminishing household savings, which resulted in a decline in the demand for Stainless Steel CR Coil Sheets on the US spot market. At the end of the second quarter, the US government's numerous initiatives increased downstream demand for Stainless Steel CR Coil.

Asia-Pacific

Stainless Steel CR Coil sheet prices in China began to steadily fall in May and June after originally rising at the start of the second quarter. Prices surged in April as feedstock Nickel prices jumped, which gave the manufacturing of Stainless-Steel CR Coil Sheets on the Chinese spot market a significant cost boost. The price of Stainless-Steel CR Coil declined in the Chinese spot market in the latter half of the second quarter as a result of rising supply and weak downstream demand. The downstream demand from both domestic and international industries was at an all-time high. April's price increase was due to a controlled shipment by the suppliers. The overseas Indonesian mines' enhanced extraction and production rate led to an increase in the supply of feedstock nickel. Due to the abundance of pig iron and iron ore raw materials on the global market and their lower cost, the Chinese Stainless Steel CR Coil manufacturers were purchasing a significant volume of Indonesian nickel pig iron. Local Chinese mills saw a rise in production because of POSCO, a significant producer of stainless steel, increasing its output. Due to the introduction of the Chinese Dragon Boat Festival, demand from downstream sectors decreased in the most recent quarter.

Stainless Steel CR Coil Prices: https://www.chemanalyst.com/Pricing-data/stainless-steel-cr-coil-1369

Europe

Prices for German Stainless Steel CR Coil Sheets originally increased before falling in the second quarter of 2023. The higher price of nickel feedstock in April contributed to considerable cost support to produce Stainless-Steel CR Coil in German mills. The local downstream auto industry saw a rise in demand because of the strong sales of electric vehicles. As a result, the Stainless-Steel CR Coil prices in the German spot market remained high in April. Inflation increased and the state of the world economy deteriorated in the second half of the quarter, which discouraged buyers from entering the market. Since Indonesian Nickel Pig Iron and Iron Ore were in high demand and available on the global market at discounted prices, the Chinese Stainless Steel CR Coil makers purchased a significant amount of it. As POSCO, a significant producer of stainless steel, boosted its output, production rates rose in the nearby Chinese mills. Due to the approaching Chinese Dragon Boat Festival, downstream businesses' demand decreased in the most recent quarter.

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