For the Quarter Ending March 2025
North America
The North American Cold Rolled Coil market experienced a significant upward trend in Q1 2025, driven by a combination of global and regional factors influencing both supply and demand dynamics. During Q1 2025, with prices settling at USD 1,395/MT CFR Manzanillo in Mexico.
The quarter revealed a 5% incline between Q1 quarter and Q4 last year, underscoring the bullish sentiment in the market. Supply constraints were a major factor, stemming from global disruptions such as import restrictions, port congestions, and broader inefficiencies in supply chain operations. These constraints limited the availability of product in the region, creating upward pressure on prices. At the same time, the demand for product in North America increased, particularly from industries tied to production, solidifying the market's positive momentum.
The Mexico demonstrated the most significant price changes, with an increase recorded indicating a steady upward trend. Despite disruptions in the supply chain, the pricing environment remained optimistic throughout the quarter, bolstered by rising domestic demand and constrained imports.
Europe
The European Cold Rolled Coil market demonstrated significant weakness in Q1 2025, with prices settling at USD 818/MT Fed-Ruhr in Germany, representing a 1.3% decline from Q4 2024. This downward movement reflects a confluence of challenging market conditions affecting the region. Additionally, Germany emerged as the epicentre of price movements, setting the tone for the broader European market. The quarter was characterized by persistent oversupply conditions, while demand remained subdued. Global economic uncertainties and ongoing geopolitical tensions further complicated the market landscape, adding to the bearish sentiment. Moreover, Key end-user sectors, notably automotive and construction, continued to show weakness in consumption patterns. This reduced demand, combined with abundant supply availability, maintained steady downward pressure on prices. Both year-over-year and quarter-over-quarter comparisons indicated negative growth, underlining the sustained nature of market challenges. While pricing pressures were evident across Europe, Germany's market conditions proved particularly influential in shaping regional trends. In a result the combination of oversupply, weakened demand, and regulatory challenges created a consistently bearish pricing environment throughout the quarter.
APAC
The APAC Cold Rolled Coil market demonstrated persistent weakness during Q1 2025, with prices in China settling at USD 561/MT, marking a 2.7% decline from the previous quarter. This downward trajectory reflects a complex interplay of market forces affecting the region. Additionally, China emerged as the primary price influencer, experiencing the most significant fluctuations throughout the quarter. The market faced multiple headwinds, including disrupted logistics networks, volatile raw material costs, and shifting international trade patterns. Traditional seasonal factors, including the off-season period and adverse weather conditions, added another layer of complexity to the already challenging market environment. Moreover, Consumption patterns showed notable weakness across key sectors. The combination of reduced demand and abundant supply availability created sustained downward pressure on prices. The bearish sentiment was further reinforced by broader economic uncertainties affecting the region. Furthermore, while price pressures were evident throughout the APAC region, China's market conditions dominated regional pricing trends. The confluence of supply-side challenges and weakened demand fundamentals maintained negative price momentum throughout the quarter, setting a bearish tone for the broader regional market.
For the Quarter Ending December 2024
North America
The North American Cold Rolled Coil (CRC) market witnessed a downward price trajectory during Q4 2024, with prices settling at USD 1,226/MT CFR Manzanillo in Mexico. The quarter revealed a 5% decline between its fourth and third quarter, reflecting significant market pressures. Additionally, the quarter was characterized by a clear supply-demand imbalance, with excess supply levels dominating market conditions. Global trade dynamics, particularly increased imports, created additional complexity in the market landscape.
Mexico emerged as the focal point of price movements within the region, experiencing the most substantial declines compared to the previous year. Key consuming sectors, notably automotive and construction, demonstrated weakened demand patterns. This reduction in consumption, combined with abundant supply, created persistent downward pressure on prices. The sequential quarterly decline highlights the ongoing challenges in stimulating market demand.
While the entire North American region faced pricing challenges, Mexico's market conditions proved particularly noteworthy. The combination of excess supply and weakened demand maintained consistent downward pressure on prices throughout the quarter, creating a challenging environment for market participants.
Europe
The European Cold Rolled Coil market demonstrated significant weakness in Q4 2024, with prices settling at USD 818/MT Fed-Ruhr in Germany, representing a 5% decline from Q3. This downward movement reflects a confluence of challenging market conditions affecting the region. Additionally, Germany emerged as the epicentre of price movements, setting the tone for the broader European market. The quarter was characterized by persistent oversupply conditions, while demand remained subdued. Global economic uncertainties and ongoing geopolitical tensions further complicated the market landscape, adding to the bearish sentiment. Moreover, Key end-user sectors, notably automotive and construction, continued to show weakness in consumption patterns. This reduced demand, combined with abundant supply availability, maintained steady downward pressure on prices. Both year-over-year and quarter-over-quarter comparisons indicated negative growth, underlining the sustained nature of market challenges. While pricing pressures were evident across Europe, Germany's market conditions proved particularly influential in shaping regional trends. In a result the combination of oversupply, weakened demand, and regulatory challenges created a consistently bearish pricing environment throughout the quarter.
APAC
The APAC Cold Rolled Coil market demonstrated persistent weakness during Q4 2024, with prices in China settling at USD 576/MT, marking a 1% decline from the previous quarter. This downward trajectory reflects a complex interplay of market forces affecting the region. Additionally, China emerged as the primary price influencer, experiencing the most significant fluctuations throughout the quarter. The market faced multiple headwinds, including disrupted logistics networks, volatile raw material costs, and shifting international trade patterns. Traditional seasonal factors, including the off-season period and adverse weather conditions, added another layer of complexity to the already challenging market environment. Moreover, Consumption patterns showed notable weakness across key sectors. The combination of reduced demand and abundant supply availability created sustained downward pressure on prices. The bearish sentiment was further reinforced by broader economic uncertainties affecting the region. Furthermore, while price pressures were evident throughout the APAC region, China's market conditions dominated regional pricing trends. The confluence of supply-side challenges and weakened demand fundamentals maintained negative price momentum throughout the quarter, setting a bearish tone for the broader regional market.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Cold Rolled Coil market experienced a period of decreasing prices, influenced by several significant factors. The market was primarily impacted by a supply and demand imbalance, with excess supply levels leading to downward pressure on prices. Weak demand from key sectors such as automotive and construction played a crucial role in driving prices lower. Additionally, global market dynamics, including increased imports and trade uncertainties, further contributed to the pricing decline.
In Mexico, the market saw the most significant price changes, with prices dropping compared to the same quarter last year. The quarter-on-quarter charge recorded a decrease, highlighting the continued negative trend. The price comparison between the first and second half of the quarter showed a 2.6% decline, reflecting the sustained downward trajectory. Additionally, the excess supply, coupled with weakening demand, is contributing to the overall pricing decline in the CRC market.
The latest quarter-ending price for CR Coil (1 mm) CFR Manzanillo in Mexico stood at USD 1275/MT, signalling a persistently negative pricing environment in the region.
Europe
In Q3 2024, the Europe Cold Rolled Coil (CRC) market witnessed a continued decline in prices, reflecting a challenging environment marked by weak demand and oversupply conditions. Several factors influenced market prices, including sluggish demand in key sectors like automotive and construction, leading to subdued consumption of Cold Rolled Coil. Moreover, the market faced headwinds from global economic uncertainties, ongoing conflicts, and regulatory challenges, all contributing to the negative price trends.
Germany, experiencing the most significant price changes in the region, saw a notable decrease in Cold rolled coil prices. Moreover, Overall trends indicated a negative change from the same quarter last year, with a further decline from the previous quarter in 2024.Additioanly, the correlation in price changes between the first and second half of the quarter remained at 2.5% decline, indicating a consistent downward trajectory.
The quarter-ending price in Germany stood at USD 850/MT of CR Coil (1 mm) Fed-Ruhr, underscoring the prevailing negative sentiment and challenging market conditions.
APAC
The third quarter of 2024 for Cold Rolled Coil (CRC) in the APAC region has been marked by a significant decrease in prices, driven by a multitude of factors. The market has experienced a decline from the same quarter last year, with a further decline from the previous quarter. Additionally, the overall trend has been negative, with a 4% decrease in pricing between the first and second half of the quarter.
China, as a key player in the region, has seen the maximum price changes, with prices declining consistently. Moreover, market dynamics have been influenced by a combination of increased supply, weakened demand, and global economic uncertainties. Additionally, the CRC market in China has faced challenges in logistics, raw material costs, and international trade dynamics. Furthermore, Seasonal factors, such as the off-season period and adverse weather conditions, have also played a role in the declining prices.
The latest quarter-ending price for CRC in China stands at USD 569 per metric ton, reflecting the overall decreasing sentiment in the pricing environment.
For the Quarter Ending June 2024
North America
During Q2 2024, the Cold Rolled Coil (CRC) market in North America experienced a downward trend in pricing, driven primarily by an oversupply and diminishing demand across various sectors. The quarter saw a consistent decrease in CRC prices, influenced predominantly by high inventory levels, reduced construction activity, and a sluggish manufacturing sector. Elevated interest rates continued to suppress purchasing activity, further exacerbating the imbalance between supply and demand. Geopolitical tensions and economic uncertainties also contributed to a negative market sentiment, leading to cautious behaviour among buyers and restrained restocking efforts by service centres.
In the USA, the decline in Cold Rolled Coil prices was particularly pronounced. An overall bearish market sentiment prevailed throughout the quarter, accentuated by significant price adjustments from major steelmakers like Nucor. The construction sector's continued sluggishness, coupled with high interest rates, played a critical role in reducing demand. Moreover, the decrease in domestic crude steel production added to the extensive oversupply, further pushing prices downward. The correlation between reduced demand and high inventories was evident, leading to a 2% price drop in the latter half of the quarter compared to the first half.
The decreased pricing environment culminated in the latest quarter-ending price of USD 1245/MT for CR Coil (1 mm) DEL-Illinois, highlighting a generally negative pricing environment. The overall sentiment for Q2 2024 was undeniably negative, marked by continuous price declines and a challenging market landscape.
Europe
The second quarter of 2024 has seen stable pricing for Cold Rolled Coil (CRC) in the European region, shaped by various factors. The market has experienced balanced dynamics, with supply and demand remaining largely congruent. A steady influx of raw materials, coupled with moderate production levels, has contributed to maintaining equilibrium in prices. Additionally, the market has not been significantly impacted by external economic shocks or geopolitical tensions, allowing for a consistent pricing environment.
Throughout the quarter, prices remained consistent between the first and second halves, underscoring the stable market environment. This stability indicates a balanced market where supply meets demand without significant disruptions. The CRC price for FD-Ruhr (Germany) concluded the quarter at USD 894/MT, reflecting a stable pricing trend.
Overall, the pricing environment for CRC in Germany and Europe has been stable, supported by balanced supply-demand dynamics and strategic market behaviour. This equilibrium has fostered a consistent market sentiment that is neither overly positive nor negative, ensuring a predictable and steady pricing trajectory.
APAC
In Q2 2024, the cold rolled coil (CRC) market in the APAC region experienced a stable pricing environment, largely influenced by balanced supply and demand dynamics. Despite facing various challenges, such as fluctuations in raw material costs and moderate global economic growth, the region managed to maintain consistent pricing. Key factors driving market stability included steady production rates among major manufacturers, robust demand from the automotive and construction sectors, and cautious inventory management practices. The quarter saw minimal volatility in supply chains, contributing to the overall stability in CRC prices. Focusing on South Korea, which witnessed the most significant price changes, the market trends were marked by seasonality and correlation in price fluctuations. The pricing remained relatively stable, with the second half of the quarter maintaining the same level as the first half. The consistency in pricing throughout the quarter, with no significant variation between the first and second halves, underscored a stable sentiment in the market. The latest quarter-ending price for CRC (SPCC-1 mm) Ex-Busan in South Korea settled at USD 987/MT. This stable pricing environment suggests that while the market faced pressures from international competition and local economic factors, it managed to maintain a balanced outlook, neither drifting significantly upwards nor downwards. Overall, the Q2 2024 pricing environment for CRC in South Korea reflected a stable yet cautiously optimistic stance.
South America
In Q2 2024, the Cold Rolled Coil pricing in the South America region remained stable amidst various influencing factors. The market experienced a balanced equilibrium, with prices holding steady throughout the quarter. Several significant factors contributed to this stability. Firstly, consistent demand from various industries maintained a healthy market balance. Secondly, strategic supply chain management and efficient production processes ensured a steady supply of Cold Rolled Coil in the region. Additionally, regulatory measures and trade policies played a crucial role in stabilizing prices and preventing extreme fluctuations.
In Brazil, where the most significant price changes were observed, the overall trends mirrored the regional stability. Despite facing some fluctuations, the market in Brazil largely mirrored the stable pricing environment of the region. The comparison between the first and second half of the quarter showed no significant price deviation, further reinforcing the stable pricing environment.
As the quarter ended, the latest price for Cold Rolled Coil (SPCC-1 mm) CFR Santos in Brazil stood at USD 743/MT, underscoring the consistent and stable pricing landscape that characterized the Cold Rolled Coil market in Q2 2024.
