For the Quarter Ending June 2026
Cold Rolled Sheet Prices in APAC
- In Malaysia, the Cold Rolled Sheet Price Index rose by 6.17% quarter-over-quarter, reflecting tighter supply.
- The average Cold Rolled Sheet price this quarter was approximately USD 653.67/MT at CFR-Klang.
- Cold Rolled Sheet Spot Price tightened as Chinese export offers firmed, reducing available landed tonnage.
- Cold Rolled Sheet Price Forecast indicates summer upside driven by logistical costs and constrained allocations.
- Cold Rolled Sheet Production Cost Trend rose with firmer hot-rolled coil feedstock and higher demurrage.
- Cold Rolled Sheet Demand Outlook stays moderate as construction and automotive procurement remains steady, non-speculative.
- Service-centre stocks and export flows capped Cold Rolled Sheet Price Index gains despite firmer offers.
- Mill allocations tightened in June reducing spot availability and freight disruptions supported CFR-Klang premiums.
Why did the price of Cold Rolled Sheet change in June 2026 in APAC?
- Abundant Chinese and Japanese offers restrained upside; June berth delays marginally increased landed CFR costs.
- Higher freight and demurrage alongside slight Ringgit depreciation eroded import parity, supporting modest price increases.
- Steady construction and automotive procurement absorbed arrivals while comfortable inventories prevented more pronounced price rallies.
China
- In China, the Cold Rolled Sheet Price Index rose by 2.62% quarter-over-quarter, driven by feedstock costs.
- Balanced inventories kept Cold Rolled Sheet Spot Price range-bound despite HRC and freight cost pressures.
India
- In India, Cold Rolled Sheet Price Index rose 6.53% quarter-over-quarter, supported by HRC costs elevating.
- Cold Rolled Sheet Spot Price remained firm amid lean service centre stocks and constrained arbitrage.
Cold Rolled Sheet Prices in Europe
- Cold Rolled Sheet Spot Price strengthened throughout May and June as mill order books extended to 8–10 weeks and domestic buyers accelerated procurement ahead of scheduled summer maintenance shutdowns.
- Cold Rolled Sheet Production Cost Trend moved upward due to higher hot-rolled coil (HRC) feedstock costs, firmer zinc prices for galvanizing-grade variants, and elevated natural gas expenses for annealing processes.
- Cold Rolled Sheet Price Forecast projects a moderate correction in Q3 2026 if import volumes from Asia recover, though energy cost volatility remains a key upside risk.
- Cold Rolled Sheet Demand Outlook remains stable, supported by automotive OEM production schedules and white-goods manufacturing, though construction-sector consumption showed seasonal softness.
- Major European producers operated at 79–83% capacity, with several mills implementing selective production cuts to balance supply amid rising energy uncertainties.
- Port inventories in Antwerp and Rotterdam declined by 6% over the quarter, tightening prompt availability and reinforcing the upward Cold Rolled Sheet Price Index.
- Import offers from South Korea and Japan were limited due to higher freight rates and longer lead times, allowing domestic European mills to maintain pricing discipline.
Why did the price of Cold Rolled Sheet change in June 2026 in Europe?
- Prices increased in June 2026 due to a surge in European power prices triggered by reduced hydropower output and maintenance at several nuclear plants, which directly elevated rolling and annealing costs.
- Additionally, a 3.5% month-over-month increase in HRC substrate prices transmitted higher production costs, while automotive buyers rushed to secure tonnage before the August holiday shutdowns, creating a spot-market tightness that lifted the Cold Rolled Sheet Spot Price.
Cold Rolled Sheet Prices in North America
- Cold Rolled Sheet Spot Price climbed steadily in April and May before accelerating in June, driven by limited domestic capacity and extended mill lead times reaching 10–12 weeks.
- Cold Rolled Sheet Production Cost Trend rose significantly as scrap and pig iron costs increased, while labor and transportation surcharges added further pressure on converter margins.
- Cold Rolled Sheet Price Forecast suggests continued upward momentum through early Q3, with potential stabilization if new capacity ramps up or import duties on foreign material are adjusted.
- Cold Rolled Sheet Demand Outlook remains robust from automotive, HVAC, and agricultural equipment sectors, though distribution channel inventories have begun to rebuild cautiously.
- Major U.S. producers operated at 82–86% utilization rates, with some integrated mills prioritizing higher-margin coated products over cold-rolled sheet, tightening supply further.
- Midwest warehouse stocks decreased by 9% over the quarter, while import arrivals from Mexico and Brazil faced delays at border crossings, supporting the Cold Rolled Sheet Price Index.
- Domestic buyers expressed concern over availability, leading to increased contract renegotiations and higher spot premiums in the Midwest region.
Why did the price of Cold Rolled Sheet change in June 2026 in North America?
- Prices increased in June 2026 primarily because of an unplanned outage at a major integrated steel mill in the Great Lakes region, which reduced monthly cold-rolled sheet output by approximately 35,000 short tons.
- Simultaneously, a sharp rally in shredded scrap prices (up 8% month-over-month) elevated the Cold Rolled Sheet Production Cost Trend, while strong end-user demand from automotive OEMs — who were replenishing depleted inventories — pushed the Cold Rolled Sheet Spot Price to multi-month highs.
- The combination of tight domestic supply and firm buyer urgency created a bullish sentiment, accelerating the upward movement of the Cold Rolled Sheet Price Index during June.
For the Quarter Ending March 2026
Cold Rolled Sheet Prices in APAC
- In Malaysia, the Cold Rolled Sheet Price Index rose by 11.265% quarter-over-quarter, reflecting tighter imports.
- The average Cold Rolled Sheet price for the quarter was approximately USD 615.67/MT, import-driven pressure.
- Cold Rolled Sheet Spot Price tightened as scarce prompt cargoes reduced supply, supporting Price Index.
- Cold Rolled Sheet Price Forecast expects gains amid restocking, constrained prompt supply and elevated freight.
- Cold Rolled Sheet Production Cost Trend rose due to higher HRC, energy, freight, narrowing margins.
- Cold Rolled Sheet Demand Outlook supported by automotive, construction and appliance sectors, underpinning steady offtake.
- Cold Rolled Sheet Price Index showed inventory draws and stronger export interest, limiting immediate downside.
- Domestic mills operated while import allocations tightened, sustaining import parity and firm Price Index levels.
Why did the price of Cold Rolled Sheet change in March 2026 in APAC?
- Tighter prompt imports and disciplined mill allocations reduced supply, tightening balances and supporting higher offers.
- Higher HRC, coking coal, increased ocean freight raised landed costs, exerting upward pressure on offers.
- Seasonal restocking ahead of holidays and thin momentum-led spot trading enabled sellers to lift quotes.
Cold Rolled Sheet Prices in North America
- In the United States, the Cold Rolled Sheet Price Index showed a moderate increase quarter-over-quarter, supported by strong domestic pricing and trade protection measures.
- The average Cold Rolled Sheet Price Index remained elevated, reflecting tight domestic supply and limited import competition.
- Cold Rolled Sheet Spot Price remained firm as domestic mills maintained high utilization and controlled supply availability.
- Cold Rolled Sheet Price Forecast indicates a firm-to-stable outlook, supported by infrastructure demand and continued tariff protection.
- The Cold Rolled Sheet Production Cost Trend remained stable to slightly elevated due to steady scrap and energy costs.
- Cold Rolled SheetDemand Outlook remained steady, supported by automotive, construction, and manufacturing sectors.
- The Cold Rolled Sheet Price Index strengthened in March as supply discipline and stable downstream demand supported pricing.
- Domestic reliance and import restrictions continued to limit supply flexibility and maintain pricing power.
Why did the price of Cold Rolled Sheet change in March 2026 in North America?
- Tight domestic supply and tariff-driven import constraints supported higher prices.
- Stable demand from construction and manufacturing sustained procurement levels.
- Controlled production and limited imports maintained upward pressure on the Price Index.
Cold Rolled Sheet Prices in Europe
- In Europe, the Cold Rolled Sheet Price Index showed a firm increase quarter-over-quarter, supported by rising energy costs and supply constraints.
- Cold Rolled Sheet Spot Price remained firm as reduced import availability and strong mill order books supported pricing.
- Cold Rolled Sheet Price Forecast suggests continued firmness, driven by energy costs and regulatory measures such as carbon policies.
- The Cold Rolled Sheet Production Cost Trend increased significantly due to high electricity and energy costs impacting steelmaking.
- Cold Rolled SheetDemand Outlook remained stable but below peak levels, supported by infrastructure and industrial demand.
- The Cold Rolled Sheet Price Index strengthened in March as supply tightened and costs increased.
- Import restrictions and carbon compliance measures further support regional pricing.
Why did the price of Cold Rolled Sheet change in March 2026 in Europe?
- Rising energy costs significantly increased production expenses.
- Reduced imports and trade safeguards tightened supply.
- Stable demand from industrial sector supported firm pricing.
For the Quarter Ending December 2025
Cold Rolled Sheet Prices in North America
- The Cold Rolled Sheet Price Index in North America showed a firm to mildly bullish trend through most of Q4 2025, supported by tight mill availability and controlled supply discipline.
- The Cold Rolled Sheet Production Cost Trend remained upward-biased due to elevated hot-rolled coil prices, higher energy costs, and rising labour expenses, limiting mills’ willingness to offer discounts.
Why did the price of Cold Rolled Sheet change in December 2025 in North America?
- In December 2025, Cold Rolled Sheet prices increased modestly as domestic mills implemented late-quarter price hikes to protect margins amid higher raw-material costs, while buyers advanced purchases ahead of year-end and Q1 allocation tightness.
- Cold Rolled Sheet Spot Prices moved upward in December as spot availability tightened, with several mills already sold out for near-term deliveries and prioritising contract customers.
- The Cold Rolled Sheet Demand Outlook was stable to firm in Q4, led by automotive, appliances, and infrastructure-linked manufacturing, while residential construction demand remained comparatively weaker.
Cold Rolled Sheet Prices in APAC
- In Malaysia, the Cold Rolled Sheet Price Index rose by 2.28% quarter-over-quarter, reflecting demand improvement.
- The average Cold Rolled Sheet price for the quarter was approximately USD 553.33/MT this quarter.
- Cold Rolled Sheet Spot Price showed weekly stability amid steady imports and restrained domestic procurement.
- Cold Rolled Sheet Price Forecast suggests modest choppiness as seasonal restocking meets intermittent supplier discounting.
- Cold Rolled Sheet Production Cost Trend was steady as upstream hot rolled feedstock prices eased.
- Cold Rolled Sheet Demand Outlook remained subdued amid weak construction, automotive, and appliance procurement conditions.
- Cold Rolled Sheet Price Index was supported by import arrivals despite elevated inventories across warehouses.
- Inventories and weak export demand prompted mills to offer discounts, further limiting domestic price appreciation.
Why did the price of Cold Rolled Sheet change in December 2025 in APAC?
- Steady import arrivals balanced moderate infrastructure demand, keeping spot offers stable and preventing price spikes.
- Elevated regional inventories and slow downstream procurement pressured suppliers to maintain or marginally reduce offers.
- Stable feedstock costs and normal logistics removed cost-push drivers, leaving demand weakness as primary influence.
Cold Rolled Sheet Prices in Europe
- The Cold Rolled Sheet Price Index in Europe followed a gradually strengthening trend during Q4 2025, supported by mill-side price discipline, reduced import availability, and improving order books toward year-end.
- The Cold Rolled Sheet Production Cost Trend remained elevated due to high electricity prices, labour cost inflation, and environmental compliance expenses, including EU ETS and early-stage CBAM-related cost considerations.
Why did the price of Cold Rolled Sheet change in December 2025 in Europe?
- In December 2025, Cold Rolled Sheet prices increased as European mills pushed through price hikes for Q1 deliveries, citing higher production costs, tighter supply, and improved downstream confidence after a prolonged period of weakness earlier in the year.
- Cold Rolled Sheet Spot Prices edged higher in December as spot availability tightened, with many mills already booked into February–March and buyers shifting from imports to domestic sourcing.
- The Cold Rolled Sheet Demand Outlook improved modestly in Q4, driven by automotive restocking, white goods production, and infrastructure-linked manufacturing, while construction demand remained mixed across regions.
For the Quarter Ending September 2025
North America
- The Cold Rolled Sheet Price Index in North America declined sharply in Q3 2025, reflecting oversupply, slowing downstream activity and higher import pressure that weighed on regional pricing.
- Spot prices softened through the quarter as service-centres and mills worked down inventories; offers and spot trades reflected buyers’ defensive, low-volume buying. Market monitors show flat-to-lower spot bids into late Q3.
Why did the price of Cold Rolled Sheet change in September 2025 in North America?
- Prices decreased in September 2025 due to continued weak demand from automotive, construction and appliance sectors, persistent oversupply at domestic service centres, and competitive import offers that pressured domestic mill margins.
- Analysts expect stability or a slight uptick in Q4 2025, as broader commodity and economic sentiment recovers and inventory levels normalize.
APAC
- In Malaysia, the Cold Rolled Sheet Price Index rose by 4.64% quarter-over-quarter, amid infrastructure procurement.
- The average Cold Rolled Sheet price for the quarter was approximately USD 541.00/MT, CFR Klang.
- Cold Rolled Sheet Spot Price volatility rose as import volumes and screenings tightened cargo availability.
- Cold Rolled Sheet Price Forecast expects firmness from procurement but constrained by Chinese export competition.
- Cold Rolled Sheet Production Cost Trend increased, HBI and carbon-tax expectations pushed mill offers higher.
- Cold Rolled Sheet Demand Outlook is mixed; infrastructure buying supports volumes while cautious restocking continues.
- Cold Rolled Sheet Price Index reflected run-rates, port operations and shifting import parity shaping offers.
- Import stocks rose pressuring spot liquidity, while major mills reported normal run-rates and no outages.
Why did the price of Cold Rolled Sheet change in September 2025 in APAC?
- Elevated Chinese exports increased import stocks, creating supply overhang and downward pressure on local prices.
- Feedstock squeeze and anticipated carbon tax raised production costs, prompting mills to lift offers slightly.
- Port screenings and logistics shifts tightened effective import availability, supporting short-term price recovery despite cautious demand.
Europe
- The Cold Rolled Sheet Price Index in Europe weakened in Q3 2025, falling roughly 5% q/q from Q2 levels as oversupply and competitive imports offer pressured regional prices.
- Spot prices softened through the quarter as buyers in Germany, Belgium and France adopted cautious, small-volume buying and increasingly relied on selective lower-priced import contracts, keeping Cold Rolled Sheet Spot Price bids subdued.
- Why did the price of Cold Rolled Sheet change in September 2025 in Europe?
- Prices decreased in September 2025 due to weak automotive and construction demand, continued high import volumes (notably from China, Indonesia and Turkey) and shortened mill lead-times that signalled cautious ordering and inventory drawdown.
