For the Quarter Ending March 2025
North America
The North American Stainless Steel CR 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 Mexico's FOB Manzanillo.
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
In Q1 2025, the European Stainless Steel CR Coil market experienced a significant upward trend in pricing, driven by a combination of supply constraints and rising operational costs. The quarter ended with Stainless Steel-304 CR Sheet (2 mm) FD-Ruhr in Germany priced at USD 2935/MT, reflecting a 1% increase from the Q1 compared to previous quarter, underscoring sustained price growth and a bullish market sentiment. Key drivers of this price escalation included major supply challenges such as operational disruptions, longer shipping routes, equipment shortages, and port congestion, which collectively limited the availability in the region. These supply-side issues were further aggravated by rising freight costs, amplifying pressures on pricing. Additionally, the implementation of environmental regulations like the EU Emissions Trading System imposed additional operational costs on producers, further contributing to the upward trajectory in prices. Additionally, the German market, a key indicator for the region, recorded the most significant price changes, maintaining consistent increases throughout the quarter, despite plant-level disruptions. The positive pricing environment highlights the interplay of constrained supply dynamics, environmental compliance costs, and global market pressures.
APAC
The APAC Stainless Steel CR Coil market exhibited significant weakness during Q1 2025, with prices in China's Ex-Shanghai market settling at USD 1,212/MT, representing a notable 5.9% decline from previous quarter. This downward trajectory was primarily driven by persistent oversupply conditions and subdued demand fundamentals across the region. China, maintaining its position as the key price influencer, experienced the most pronounced price movements, setting the tone for regional market trends. The quarter was characterized by elevated input costs and sluggish market activity, which continued to exert downward pressure on prices. Moreover, demand patterns remained weak, extending the trend observed in previous quarters, while abundant supply levels further contributed to the bearish market sentiment. Additionally, the market dynamics were further complicated by reduced consumption across major end-use sectors, creating additional pressure on prices throughout the quarter. These challenges were particularly evident in China, where market conditions significantly influenced regional pricing trends. The combination of persistent oversupply and weakened demand maintained bearish sentiment throughout Q1, suggesting limited prospects for immediate price recovery.
For the Quarter Ending December 2024
North America
The North American Stainless Steel CR Coil market continued its bearish trend from Q3 into Q4 2024, with prices remaining under pressure in Mexico's FOB Manzanillo market. This sustained weakness reflects persistent challenges in both supply and demand fundamentals across the region. Meanwhile, the quarter was marked by continued supply-demand imbalances.
Despite ongoing supply chain disruptions, including input shortages and logistics delays, domestic production levels remained elevated. Moreover, the market faced additional pressure from rising operational costs and reduced purchasing activity, contributing to the overall bearish sentiment. Additionally, Q4 witnessed further deterioration in demand patterns, extending the weakness observed in Q3. End-user industries showed limited buying interest, while increased production levels continued to oversupply the market.
This combination of factors maintained downward pressure on prices throughout the quarter. Furthermore, Mexico remained a focal point of market activity, with its pricing trends influencing the broader North American market. The persistent combination of robust domestic production and subdued demand created a challenging pricing environment, suggesting limited prospects for immediate recovery.
Europe
The European Stainless Steel CR Coil market demonstrated significant weakness in Q4 2024, with prices settling at USD 2805/MT Stainless Steel-304 CR Sheet (2 mm) FD-Ruhr in Germany, representing a 1% 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 Stainless Steel CR Coil market exhibited significant weakness during Q4 2024, with prices in China's Ex-Shanghai market settling at USD 1,214/MT, representing a notable 4% decline from Q3 levels. This downward trajectory was primarily driven by persistent oversupply conditions and subdued demand fundamentals across the region. China, maintaining its position as the key price influencer, experienced the most pronounced price movements, setting the tone for regional market trends. The quarter was characterized by elevated input costs and sluggish market activity, which continued to exert downward pressure on prices. Moreover, demand patterns remained weak, extending the trend observed in previous quarters, while abundant supply levels further contributed to the bearish market sentiment. Additionally, the market dynamics were further complicated by reduced consumption across major end-use sectors, creating additional pressure on prices throughout the quarter. These challenges were particularly evident in China, where market conditions significantly influenced regional pricing trends. The combination of persistent oversupply and weakened demand maintained bearish sentiment throughout Q4, suggesting limited prospects for immediate price recovery.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American region experienced a stable pricing environment for Stainless Steel CR Coil. This quarter has been characterized by consistent market conditions, with prices remaining steady due to a balance in supply and demand dynamics. Moreover, Factors like stable production levels, moderate demand, and overall market stability influenced the pricing trend.
Moreover, the correlation in price changes between the first and second half of the quarter remained stable, indicating a relatively flat trajectory. Additionally, domestic production has decreased month-on-month but shows improvement year-on-year. Moreover, the supply chain has faced various challenges, including input shortages, customs delays, and rising input costs, adding to the complexity of the market dynamics. Furthermore, the demand for Stainless Steel CR coil in Mexico has also experienced a stability. As a result, prices of Stainless-Steel CR coil in Mexico remained stable.
The latest quarter-ending price for SS-304 CR Plate (6 mm) FOB Manzanillo in Mexico was recorded at USD 4877/MT, underscoring the stable pricing sentiment prevalent throughout the quarter.
APAC
Throughout Q3 2024, the Stainless-Steel CR Coil market in the APAC region has experienced a period of decreasing prices, influenced by a combination of factors. The market has been notably impacted by persistent oversupply, sluggish demand, and rising input costs. These challenges have created a downward pressure on prices, leading to a negative trend in the pricing environment.
In China, which has seen the most significant price changes, the Stainless-Steel CR Coil market has reflected overall trends in the region. Additionally, there is a decrease compared to the same quarter last year which underscores the market's struggles. Despite no change from the previous quarter in 2024, the comparison between the first and second half of the quarter revealed a slight decline of 1%.
The latest price recorded at USD 1313/MT for Stainless Steel-201 CR Coil (1 mm) Ex Shanghai in China signifies the prevailing decreasing sentiment in the market, highlighting the challenges faced by industry players in navigating pricing dynamics amidst a complex operating environment.
Europe
The third quarter of 2024 for Stainless Steel CR Coil pricing in the Europe region has been characterized by stability, with prices remaining constant due to consistent supply and demand dynamics. Various factors have influenced market prices, such as steady supply conditions, cautious market sentiment, and stable demand from downstream industries like construction and automotive sectors. These factors have contributed to a balanced pricing environment throughout the quarter.
Germany has experienced notable price changes, reflecting the overall European trend. Price trends have shown an increase from the same quarter last year, indicating a slight uptick in pricing dynamics. Additionally, the quarter recorded an increase from the previous quarter in 2024, signaling a positive trajectory in pricing trends. Moreover, the comparison between the first and second half of the quarter showed no significant price fluctuations.
The quarter-ending price for Stainless Steel-304 CR Sheet (2 mm) FD-Ruhr in Germany settled at USD 2852/MT, reflecting the stable pricing sentiment prevalent in the European region.
For the Quarter Ending June 2024
North America
The second quarter of 2024 has been notably challenging for the Stainless-Steel Cold Rolled (CR) Coil market in North America, characterized by a consistent decline in prices. Several fundamental factors have converged to exert downward pressure on market prices. An oversupply situation, fuelled by heightened capacity utilization and amplified raw material availability, has resulted in a significant inventory build-up. This supply glut, compounded by tepid demand from key sectors such as construction and manufacturing, has further destabilized market equilibrium. Elevated interest rates and economic uncertainties have prompted cautious purchasing behaviour, exacerbated the supply-demand imbalance, and led to a bearish market environment.
Focusing on the USA, which has experienced the most pronounced fluctuations, the overall trend has been overwhelmingly negative. The seasonal impact has exacerbated this downturn, with a notable 1% price drop between the first and second halves of the quarter. These shifts can be attributed to subdued construction activity, weak order intake, and increasing freight costs, which have collectively dampened market sentiment.
The latest recorded price for SS-304 CR plate (6 mm) CFR Alabama Port stands at USD 4877/MT, reflecting a persistently negative pricing environment. Overall, the market has faced significant challenges, with the decreasing trend underscoring a negative sentiment throughout the quarter.
Europe
In Q2 2024, the European market for Stainless Steel Cold Rolled (CR) Coil experienced noticeable price increases driven by several influential factors. Key among these were persistent supply constraints, fluctuating demand from critical sectors such as automotive and construction, and an intricate interplay of global economic conditions. The supply side faced pressure due to limited availability of raw materials and logistical bottlenecks, which was compounded by environmental regulations and decarbonization efforts impacting production rates. Furthermore, geopolitical tensions and regulatory measures, such as anti-dumping duties, also constrained imports, adding upward pressure on prices.
Focusing on Germany, which saw the most significant price changes, the market displayed a pronounced upward trend. The overall sentiment was positive, driven by an uptick in demand from the automotive and manufacturing sectors, despite a slowing construction industry. Seasonality played a role, with the second quarter typically seeing higher industrial activity after the winter lull. The correlation in price changes was evident as the increasing demand during this period exacerbated the supply tightness, leading to price hikes. Within Q2, a 2% price rise between the first and second half of the quarter further illustrated the strengthening demand dynamics.
Conclusively, Q2 2024 ended with Stainless Steel CR Coil prices at USD 2851/MT for Stainless Steel-304 CR Sheet (2 mm) FD-Ruhr in Germany, showcasing a robust and increasingly positive pricing environment driven by constrained supply and resilient demand.
APAC
In the second quarter of 2024, Stainless Steel Cold Rolled (CR) Coil prices in the Asia-Pacific (APAC) region remained stable, driven by a delicate balance in supply and demand dynamics. Key factors contributing to this price stability include robust production levels, subdued demand from downstream industries, and sustained inventory levels. Despite some fluctuations in global raw material costs and minor interruptions in the supply chain, the overall market sentiment has remained steady. The seasonality effect, characterized by traditional downturns in certain manufacturing sectors, and minimal changes in construction activity have also played pivotal roles in maintaining price stability.
Focusing on South Korea, which experienced the most notable price changes, the market reflected a complex interplay of robust domestic manufacturing output and fluctuating import-export dynamics. The overall trend in South Korea has been one of cautious stability, the first and second halves of the quarter showed no significant price differentiation, indicating consistent market behaviour throughout the period.
The quarter-ending price for Stainless Steel-304 CR Coil (3 mm) in South Korea settled at USD 2875/MT FOB Busan, underscoring the stable pricing environment. This stability, while highlighting an overall positive sentiment, suggests that the market has successfully navigated potential disruptions and maintained equilibrium amidst varying external pressures. The pricing environment, thus, can be characterized as stable, reflecting a market well-adjusted to current economic conditions and supply-demand dynamics.
