Stainless Steel HR Coil Prices Trend and Forecast

North America Stainless Steel HR Coil prices remained stable in the US market during the fourth quarter of 2022, owing to limited consumption from the downstream segment. At the start of the Q4, mill margins in the United States were under pressure due to rising input costs and the ongoing push to use more scrap in furnaces and incorporate more obsolete grades into the mix. Mills maintained their margins, but they had to give as spot prices fell, despite scrap dealers and traders stating that the shredded scrap premium to prime grades was not sustainable beyond November. Buyers were focused on reducing inventories across all products through the end of the year, keeping them out of the spot market due to shorter lead times from domestic mills versus longer lead times for imports. Despite falling scrap prices, mills attempted to remain competitive with import offers, as downstream demand from new projects did not warrant additional spot buys, bookings of larger imports, or rising financing costs. Despite months of similar incidents and price increases, manufacturers and some service centers believed the market was finally approaching an absolute bottom. Asia Pacific In the Chinese market, the Stainless Steel HR Coil prices showcased a declining trend in the final quarter of 2022 due to a limited downstream demand outlook and production curtailment by major manufacturers. In some areas, epidemic prevention and control measures were tightened, and logistics and transportation were disrupted. In response to supply and demand, upstream nickel prices rose and fell sharply, while stainless steel prices remained relatively stable. Traders and downstream businesses waited and saw, buying only when necessary. Downstream demand was declining toward the end of the year, and market willingness to purchase was low. Europe Towards the closure of Q4, the Stainless Steel HR Coil prices showcased a stagnancy in their price trend in the European market amidst a fixed downstream demand outlook and higher inventory level. Buyers who ordered December delivery said the material has been readily available, with lead times as low as two weeks from several mills. Customers are putting off purchases. Buyers reported that terminal demand had remained relatively stable, and distributors began restocking in November, indicating that inventories had been depleted. The restocking did not involve any large cargoes, and increased distributor demand did not affect prices. Buyers claim that the demand crashed, and until recently, the market was weighed down by high inventories and low actual demand to the point where most European stainless mills initiated some production cuts. According to sellers, domestic prices for SS Hot-rolled coil in Europe remained unchanged due to a market slowdown ahead of the Christmas holidays. ChemAnalyst tackles the primary difficulty areas of the worldwide chemical, petroleum, pharmaceutical, and petrochemical industries, empowering decision-makers to make informed decisions. It examines and analyses geopolitical risks, environmental concerns, raw material availability, supply chain functioning, and technological disruption. It focuses on market volatility and guarantees that clients manage obstacles and hazards effectively and efficiently. ChemAnalyst's primary expertise has been data timeliness and accuracy, benefiting both local and global industries by tuning in to real-time data points to execute multibillion-dollar projects internationally. https://www.chemanalyst.com/Pricing-data/stainless-steel-hr-coil-1368