Cold Rolled Coil Prices, Monitor, Analysis & Demand

North America

The North American region witnessed a declining quarter for Cold Rolled Coil pricing in Q4 2023 due to the impact of various global macroeconomic factors. In early October, Cold Rolled Coil prices in the United States remained stable amid global macroeconomic pressures, including rising inflation and concerns about China's construction industry. The Inflation Reduction Act had little impact on boosting demand. LME warehouse stocks increased, signaling a supply surplus.

However, in the domestic market, Cleaveland Cliffs' price hike announcement, coupled with reduced production due to a UAW strike and increasing input costs, led to a subsequent price increase. Downstream construction and infrastructure demand showed promise. The Chinese government's stimulus measures globally contributed to rising prices. Interest rate hikes in the USA also played a role.

By December, Cold Rolled Coil prices stabilized due to reduced supply, increased order fulfillment, and positive market sentiments. Major manufacturers announced price increases, instilling hope for the upcoming months. However, trade disruptions in the Red Sea, EU tariff extensions, and a declining consumption rate during holidays affected the market, and the overall situation remained dynamic. The latest quarter-ending price of Cold Rolled Coil (1 mm) DEL-Illinois in the USA was USD 1170/MT.

Asia-Pacific

The APAC region's Cold Rolled Coil market witnessed a considerable hike in the price trend in Q4 2023. In the Chinese Cold Rolled Coil (CRC) market, the second week of September saw stagnancy in prices amid increased output and sluggish terminal demand caused by price slips and the impact of a typhoon in South China. Inventory buildup was reported in various regions, with limited room for iron ore prices to drop. Despite positive policies in real estate and manufacturing, their impact on the CRC market was expected to take time. By the last week of September, CRC prices remained stable as local downstream demand stayed low amidst decreasing inventories. In October, weakening demand from consumer goods and the construction sector, along with stable production and declining real estate activity, contributed to a static price trend. In the third week of October, CRC prices decreased due to lower iron ore feedstock costs, reduced downstream product demand, and market instability from stable interest rates. Industry participants adopted a "wait-and-see" strategy. Later it was observed that CRC prices in China showed stability, supported by a global production rate increase, improved profit and export rates, and healthy orders from local and overseas buyers, prompting mills to maintain stable costs during the recovery phase in the Chinese Steel Market. No plant shutdown was observed in the Chinese spot market during this quarter. The quarter-ending price of Cold Rolled Coil (SPCC-1 mm) Ex Tianjin in China was USD 660/MT.

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Europe

The Cold Rolled Coil market in Europe during Q4 of 2023 observed a plunging price trend in the German spot market. In October, the German Cold Rolled Coil market faced stability with weakened demand from the automotive and construction sectors, attributed to intense competition and reduced market share for German automotive companies. Higher inflation and cautious government spending contributed to sluggish sales. Despite support for solar energy, economic uncertainty led to a "wait and see" approach, affecting demand for Cold Rolled Coil. In November, the market remained stable amid slow purchasing activity and temporary closures due to public holidays. Overseas competition and the potential increase in the European Federal Reserve interest rate impacted consumer behavior. Rising energy costs benefited major steel makers but posed challenges for small-scale fabricators. December saw low demand, maintenance shutdowns at major Italian manufacturer Acciaierie d’Italia, and disruptions in international shipping routes. The market ended the year with a slight upward trend in prices, with a wait-and-see sentiment prevailing due to uncertain market conditions and geopolitical factors. The Cold Rolled Coil price in Germany during Q4 of 2023 increased by 1.1%, with the quarter-ending price of USD 910/MT for CR Coil (1 mm) Fed-Ruhr in Germany.

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