German and Chinese Cold Rolled Coil Prices Revise Positive, USA’s Battle Continues

On May 3rd, Cold Rolled Coil prices in the USA experienced a decline owing to the combination of multiple factors. The US Feedstock pet coke market saw a decrease in April due to increased availability and steady Cold Rolled Coil supply, making the market cautious. According to FRED data, the Producer Price Index for Cold Rolled Steel Sheet and Strip decreased in March. Additionally, the AISI reported increased US crude steel production due to international market uncertainties. There's less demand from other countries, evident in reduced steel prices in March. German Cold Rolled Coil prices rose due to increased freight charges from China/East Asia. In China, Cold Rolled Coil prices rose on May 3rd week on week, reflecting increased demand across various sectors and the need for innovation due to competition.

The Cold Rolled Coil prices experienced a decline of around 0.4% in USA on May 3rd.The feedstock pet coke market recently saw a 0.4% drop in April 2024. This decrease was primarily driven by high availability of pet coke in the market and steady circulation of Cold Rolled Coil, making the market cautious. The Producer Price Index for Cold Rolled Steel Sheet and Strip made from bought steel went down by 35% in March compared to the month before, according to the data released by FRED. Also, the American Iron and Steel Institute (AISI) says there was an increase in US crude steel production for the week ending on May 4th, mostly because of uncertainties in the international market. The Producer Price Index for Steel Pipe, Tube, and Stainless Steel went down by 0.2% in March compared to February. People thinking of buying stuff are being careful and not jumping into new deals, especially since there's already a lot of Cold Rolled Coil around. There's been an 8.7% drop in car sales from March to April.

German Cold Rolled Coil makers marking up prices by 0.6% on May 3rd week on week. Freight charges from China/East Asia to Northern Europe shot up by 7.4% by the week ending on May 3rd. Even though there's high demand, customers don't have much in stock. The imported coil market is going up, and more restocking is helping German makers push prices higher. Demand for cold rolled coils is still strong, showing growth. Producer prices for mining, manufacturing, energy, and water supply went up by 0.2% in March compared to February, according to the data released by FRED. Local suppliers are raising prices bit by bit since imports aren't as competitive and buyers want more. Also, car sales went way up, with a 19.8% increase in April compared to the same time last year.

The price of Cold Rolled Coil increased by 0.2% in China on May 3rd. In April, the NBS data shows, supplier delivery times went down by 0.4% monthly and the Producer Prices Index went up by 3.6% from the month before. Shipping charges from Northern Europe to China/East Asia went up by 2.4% at the same time. After China's Labour Day, there weren't many Colds Rolled Coil left, so prices went up in China.

ChemAnalyst analysis tells that increased demand from downstream sectors in the USA will affect Cold Rolled Coil prices. The construction industry's stronger purchasing may drive price hikes. Efforts by the German government to revitalize the Cold Rolled Coil sector are anticipated to push prices higher. Moreover, China's growing demand in the automotive sector may boost global Cold Rolled Coil demand, potentially influencing future prices.