The chequered plate prices surged globally during March, fueled by auto sector growth. China's demand and US tariff anticipation played key roles, contrasting with Europe's cautious optimism.

Key Takeaways

• Domestic demand and export orders for stainless steel chequered plate surged in China. Prices rose in March, supported by seasonal demand recovery and rising raw material costs, particularly nickel.
• US chequered plate prices also jumped MoM in March, driven by strong auto sector demand and tariff anticipation. Exports to North American markets rose alongside robust vehicle sales in Mexico and Canada.
• Chequered plate prices in Germany increased supported by higher auto manufacturing and demand from the European region. However, concerns linger over the EU steel safeguard review, which lacked stronger import protections.

China saw increased domestic demand for stainless steel chequered plate, coupled with strong export orders. Raw material nickel continued their upward trend, supported by a weaker US dollar, strong Chinese stainless steel futures, and firm nickel ore prices.

In March Chequered plate prices in China increased by 6% m-o-m. Seasonal demand recovery pushed up Chinese chequered plate prices, with minor increases also seen in East and Southeast Asian quotations. While environmental regulations caused some ss chequered plate producers to undertake maintenance, impacting output, rising stainless steel prices improved profitability and sustained high production levels overall.

Rising downstream demand from the importing countries in the April-June period is projected to push chequered plate prices upward. This along with improving domestic demand in China, fueled by warmer weather and increasing raw material expenses is expected to contribute to the overall price increase.

Driven by strong auto sector demand and consumers anticipating tariffs, US chequered plate demand surged in March. The export demand for chequered plate also experienced growth, supported by strong automotive sales in Mexico and Canada. According to Mexico's INEGI, light vehicle sales increased by 8.2% month-over-month in March. Similarly, DesRosiers Automotive Consultants in Canada reported approximately 185,000 light vehicles sold in March 2025, marking a 51.6% month-over-month rise.

Driven by robust demand from importing nations and a rise in domestic consumption by the automotive and manufacturing sectors, US chequered plate prices jumped 6% in March.

Germany witnessed a 2.8% rise in chequered plate prices driven by strong demand from domestic auto manufacturers and exports within the European region. This aligns with a significant increase in new car registrations across major European markets as Germany reported a 24.6% increase in March with Italy's sales increasing by 24.9% and France recording an 8.6% rise.

However, a dim outlook clouds Germany's chequered plate market. Across Europe, the stainless-steel sector has responded with mixed feelings to the EU's steel safeguard review and support plan. European stainless steel flat producers, facing weak demand and high costs, were disappointed that the safeguard review until July 2026 didn't offer more import protection. However, they were encouraged by Action Plan proposals recognizing the need to limit imports for the industry's long-term viability.