In the U.S., Cold Rolled Coil prices dipped, influenced by manufacturers lowering their asking prices to stay competitive amidst a sluggish construction industry hampered by high interest rates. The situation was further exacerbated by major player Nucor cutting its published spot price, while service centres hesitated to restock. Germany saw a decline in Cold Rolled Coil prices, driven by reduced automotive sector orders, pushing German steel producers to offload surplus inventory into the spot market. The construction sector, particularly residential building, continued to face challenges, although the rate of decline showed signs of slowing. In China, Cold Rolled Coil prices decreased with increased inventories at steel mills and weak demand contributing to the decline. Production in Hebei province rose, bolstered by a significant increase in Pig Iron Accumulated Output, improving raw material stocks. Despite these factors, domestic demand remained subdued due to challenges in the real...
