For the Quarter Ending September 2025
North America
• In USA, the Grey Cast Iron Price Index rose by 2.45% quarter-over-quarter, reflecting supplier adjustments.
• The average Grey Cast Iron price for the quarter was approximately USD 3009.00/MT, regionally reported.
• Grey Cast Iron Spot Price remained range-bound, Price Index reflected balanced supply and limited restocking.
• Grey Cast Iron Price Forecast indicates modest near-term upside, then cooling as demand remains subdued.
• Grey Cast Iron Production Cost Trend shows rising labor and energy costs offsetting stable inputs.
• Grey Cast Iron Demand Outlook stays weak from construction and automotive sectors, restraining inventory replenishment.
• Section 232 tariffs limit import competition; domestic inventories and export demand keep Price Index steady.
• Major foundries operated normally, constrained expansions limited upside, sustaining steady throughput and Price Index balance.
Why did the price of Grey Cast Iron change in September 2025 in North America?
• Balanced domestic supply and mill pricing initiatives generated slightly upward pressure amid limited end-use demand.
• Rising labor and regional energy costs increased production expenses, offsetting neutral raw material price benefits.
• High Section 232 tariffs curtailed imports, while buyer wait-and-see sentiment discouraged stronger forward purchasing activity.
APAC
• In China, the Grey Cast Iron Price Index rose by 2.63% quarter-over-quarter, supported by feedstock.
• The average Grey Cast Iron price for the quarter was approximately USD 1574.67/MT, Shanghai basis.
• Grey Cast Iron Spot Price firmed as coke and ore increases moderately raised melt charges.
• Grey Cast Iron Price Index showed range-bound trading amid steady mill operations and logistical normalcy.
• Grey Cast Iron Production Cost Trend points to higher melt costs driven by firm coke.
• Grey Cast Iron Demand Outlook improved slightly from machinery and rail tenders despite weak construction activity.
• Grey Cast Iron Price Forecast indicates near-term range-bound movement with potential upside from project tenders.
• Grey Cast Iron Price Index stability reflected balanced export redirection and selective domestic restocking activity.
Why did the price of Grey Cast Iron change in September 2025 in APAC?
• Rising coke and iron ore benchmarks increased melt charges, pressuring domestic offers through September period.
• Selective restocking by foundries and railway tender awards lifted offtake even with weak construction demand.
• Export diversion from tariffs redirected volumes domestically while steady mill operations maintained supply continuity thereby.
Europe
• In Germany, the Grey Cast Iron Price Index rose by 0.49% quarter-over-quarter, reflecting subdued activity.
• The average Grey Cast Iron price for the quarter was approximately USD 2887.67/MT during Q3 2025.
• Grey Cast Iron Spot Price remained range-bound amid balanced supply and muted volumes across foundries.
• Grey Cast Iron Price Index showed modest gains supported by steady domestic feedstock and disruptions.
• Grey Cast Iron Production Cost Trend faced upward pressure from logistics and EU carbon pricing.
• Grey Cast Iron Demand Outlook remains subdued due to seasonal slowdowns and downstream procurement behavior.
• Grey Cast Iron Price Forecast anticipates near-term range movement with potential upticks if volumes recover.
• Grey Cast Iron Price Index stability reflects controlled mill production, sufficient inventories, and buyer restocking.
Why did the price of Grey Cast Iron change in September 2025 in Europe?
• Weak downstream orders and seasonal holiday effects reduced demand, keeping pricing pressure despite steady supply.
• Rising logistics charges and EU carbon costs increased indirect production expenses, marginally supporting spot offers.
• Stable feedstock availability and balanced inventories limited upward price momentum despite occasional local production adjustments.
For the Quarter Ending June 2025
North America
• The Grey Cast Iron Price Index in the USA increased by 9.9% quarter-over-quarter in Q2 2025. The rise was attributed to strong automotive demand and buyer anticipation of tariff impacts, which encouraged forward buying.
• The Grey Cast Iron Production Cost Trend remained under pressure. Rising input costs, including those driven by Nucor's price hikes and higher coking coal and iron ore prices, continued to influence supplier margins.
• The Grey Cast Iron Demand Outlook improved, led by increased vehicle sales and stable construction sector needs despite high interest rates.
• Domestic mills maintained steady capacity utilization (~78%) amid tight scrap supply and tariff protections, allowing price discipline to hold.
Why did the price of Grey Cast Iron change in July 2025 in North America?
• The Grey Cast Iron Spot Price in July 2025 is estimated to have remained stable at USD 2,980/MT (delivered to San Diego), after slight firming in June.
• Demand from infrastructure and automotive segments stayed consistent, but new spot inquiries slowed as earlier Q1 forward buying reduced immediate needs.
• The Grey Cast Iron Price Forecast signals continued steadiness barring a major shift in policy or scrap input volatility.
• The Grey Cast Iron Demand Outlook remains cautiously positive with suppliers holding firm on offers and inventory levels in check.
APAC
• The Grey Cast Iron Price Index in China decreased by 2.3% quarter-over-quarter in Q2 2025. This was due to oversupply conditions and cautious domestic demand.
• The Grey Cast Iron Production Cost Trend softened slightly, driven by subdued iron ore prices and stable scrap availability.
• The Grey Cast Iron Demand Outlook weakened amid a cautious industrial environment and muted construction activity.
• Export activity showed limited recovery, with Southeast Asian markets not absorbing excess Chinese inventory effectively.
Why did the price of Grey Cast Iron change in July 2025 in China?
• The Grey Cast Iron Spot Price in July 2025 likely remained under slight downward pressure as inventories stayed elevated and mills offered competitively for export.
• Domestic buyers continued to delay orders awaiting stronger signs of policy support and a pickup in infrastructure activity.
• The Grey Cast Iron Price Forecast remains soft unless capacity rationalization or government stimulus boosts local demand.
• The Grey Cast Iron Demand Outlook is flat, with limited signs of restocking or industrial acceleration in early Q3.
Europe
• The Grey Cast Iron Price Index in Germany increased by 8.7% quarter-over-quarter in Q2 2025. The rise was driven by limited local supply, higher energy input costs, and strong sentiment around mechanical and plant engineering sectors.
• The Grey Cast Iron Production Cost Trend rose consistently, underpinned by energy inflation, constrained scrap availability, and elevated logistical overheads.
• The Grey Cast Iron Demand Outlook showed moderate resilience in mechanical engineering, with infrastructure sentiment improving slightly.
• Domestic mills kept offers firm as import options remained limited and buyers adjusted to higher cost structures.
Why did the price of Grey Cast Iron change in July 2025 in Germany?
• The Grey Cast Iron Spot Price in July 2025 edged down slightly to USD 2,905/MT (FD-Königsbronn), amid subdued summer demand and softening automotive sector pull.
• Construction and industrial procurement remained cautious, and buyers delayed purchases hoping for better visibility.
• The Grey Cast Iron Price Forecast indicates mild downside pressure into Q3 unless procurement sentiment rebounds.
• The Grey Cast Iron Demand Outlook remains muted in the short term, though infrastructure optimism could provide later support.
For the Quarter Ending March 2025
North America
• The Grey Cast Iron Price Index in North American market showcased an increase during Q1 2025, and by the quarter-ending Grey Cast Iron Spot Price stood at USD 2,793/MT (Plate DEL San Diego).
• Why did the price of Grey Cast Iron Change in April 2025? During early April 2025, prices of Grey Cast Iron increased, driven by improving construction activity and robust recovery in demand from the downstream automotive sector.
• January prices remained stable amid firm demand from steel mills and modest growth in raw steel output.
• In February, the market saw upward pressure due to pricing actions by Nucor and rising raw material costs, which influenced the Grey Cast Iron Production Cost Trend.
• March concluded with a 1% price rise, supported by a 9.8% jump in vehicle sales, though labor and input costs remained challenging.
• The Grey Cast Iron Demand Outlook improved with better sentiment from the automotive and construction sectors.
• Despite logistical and labor hurdles, the market reflected growing confidence, prompting a cautiously optimistic Grey Cast Iron Price Forecast for Q2 2025.
Europe
• The Grey Cast Iron Price Index in Europe also increased slightly in Q1 2025, with the quarter ending at USD 2,793/MT (Plate FD-Konigsbronn, Germany).
• Why did the price of Grey Cast Iron Change in April 2025? During the month of April 2025, prices were projected to increase, supported by firming demand from the steel sector and limited scrap availability.
• Early January saw mixed market conditions due to seasonal declines and uncertain import levels, which dampened buyer sentiment.
• By late February, prices rose 0.8% amid strong steel demand and a surge in ferrous scrap exports to Turkey.
• In March, the market recorded a further 1% price increase, backed by demand for HRC and HDG products despite headwinds in the construction sector.
• The Grey Cast Iron Spot Price reflected supply constraints and increasing input costs, particularly in scrap-based production.
• The Grey Cast Iron Production Cost Trend moved upward slightly due to elevated raw material costs and regional transportation challenges.
• A positive Grey Cast Iron Demand Outlook emerged with expectations of stronger public infrastructure investment and localized supply security.
• The Grey Cast Iron Price Forecast for Q2 indicates potential gains, contingent on geopolitical developments and iron ore supply stability.
APAC
• The Grey Cast Iron Price Index in APAC, particularly China, showed mixed trends, ending Q1 2025 at USD 1,491/MT (GB-T9349 GI Iron Ex Shanghai).
• Why did the price of Grey Cast Iron Change in April 2025? April 2025, Grey Cast Iron prices observed a decrease, as downstream steel demand remains weak and overcapacity concerns persist.
• January posted a 0.6% price increase due to stronger pig iron output and stable iron concentrate costs.
• February saw a 1% decline in prices driven by soft domestic demand and pressure from falling global iron ore prices.
• In March, prices dropped by 1.5% as steelmakers curtailed output in response to impending regulatory controls aimed at reducing overcapacity.
• The Grey Cast Iron Spot Price weakened toward the end of the quarter, reflecting reduced activity across steel and manufacturing sectors.
• The Grey Cast Iron Production Cost Trend remained under pressure due to lower raw material prices and government-imposed production caps.
• The Grey Cast Iron Demand Outlook remains fragile, impacted by global trade tensions, including new U.S. tariffs that hindered export sentiment.
• The Grey Cast Iron Price Forecast points to short-term downside unless policy support or construction demand significantly rebounds.
For the Quarter Ending December 2024
North America
In Q4 2024, the Grey Cast Iron market in North America has shown signs of stability amid fluctuating economic conditions. Prices remained unchanged during this period, reflecting a consistent demand backdrop even as the broader manufacturing sector faced challenges. Despite the stable price environment, the sector continues to grapple with a decline in production output and new orders for the fifth consecutive month, attributed to supply chain disruptions and rising input costs.
The U.S. manufacturing sector exhibited signs of slight recovery as the Manufacturing Purchasing Managers’ Index showed improvements, although it remains below neutral, indicating persistent contraction. Demand from construction and automotive sectors remained moderate, though the construction industry faced hurdles due to high mortgage rates, leading to reduced activity in residential projects.
As we close the quarter, the price for Grey Cast Iron Plate DEL in San Diego stands at approximately USD 2,592/MT. This stability in pricing occurs amid cautious buyer behaviour and challenges such as increased inventory levels and import competition, particularly from Brazilian pig iron. Market participants must navigate these dynamics to maintain stability and responsiveness in the coming months, as the outlook for 2025 suggests potential improvements in demand conditions.
Europe
In Q4 2024, the Grey Cast Iron market in Europe experienced stability in pricing amidst challenging economic conditions. Prices remained steady in November and December, reflecting a cautious demand environment influenced by slowing activity in both the construction and automotive sectors. Notably, Germany's Manufacturing Index showed a marked decline, amplifying concerns over contracting industrial output and new orders. Demand dynamics have been mixed, as the construction sector shows signs of recession, particularly in residential and civil engineering projects, leading to a decline in new housing approvals. This situation has compelled manufacturers to adapt to a sluggish demand landscape, with a preference for domestic materials over imports becoming apparent. Conversely, some southern European mills have attempted to attract business with competitive pricing, though overall stability in Grey Cast Iron prices has persisted due to tight supply of imported raw materials. As the quarter concludes, the price for Grey Cast Iron plate FD-Königsbronn in Germany stands at USD 2,554/MT. Market participants are now navigating challenges such as fluctuating demand and regulatory uncertainties, which could hinder recovery efforts in 2025. A rebound in demand will be critical to reinforcing market stability as the industry seeks to adapt to evolving economic realities.
APAC
In Q4 2024, the Grey Cast Iron market in the APAC region, particularly in China, exhibited stability in pricing, reflecting balanced supply and moderate demand. Prices remained relatively unchanged throughout November and December, supported by steady demand from sectors like automotive, which showed significant growth with an 11.2% increase in passenger vehicle sales year-on-year. However, the construction sector faced headwinds, with overall activity declining despite a notable uptick in housing. The manufacturing landscape is marked by cautious optimism, as the NBS Manufacturing PMI fluctuated, signalling mild growth but raising concerns about potential slowdowns. Increased maintenance activities on blast furnaces led to a temporary drop in pig iron output, yet the overall supply remained stable, bolstered by a robust inventory of iron feedstock materials. As we conclude Q4, the price for GB-T9349 GI Iron Ex Shanghai stands at approximately USD 1,570/MT. Market participants face challenges such as volatility in iron ore prices and ongoing anti-dumping measures across various countries, which may impact trade dynamics. The need for strategic adjustments and close monitoring of market conditions is crucial as the industry anticipates a rebound in demand and potential production increases heading into 2025.
