Global Cold Rolled Coil Prices Gain Minor Price Revisions in Ending April 2024

With the week ending on 26th April, Cold Rolled Coil prices in the US and Germany dipped due to subdued trading with sluggish demand. China's Cold Rolled Coil prices rose, while freight costs from the Mediterranean to China and East Asia surged. Petroleum coke prices increased in China. Far Eastern mills are closely monitoring China's market sentiment and global purchasing trends, focusing on export sales. Overall, Cold Rolled Coil prices fluctuated due to varying demand and market conditions.

By the conclusion of the week ending April 26th, there was a marginal decline of 0.2% recorded in Cold Rolled Coil prices within the US market. The prices for Cold Rolled Coil witnessed a slight decrease, and the trading atmosphere in the domestic market was notably subdued, as both prices and trading activity exhibited a downward trend. Despite some observed demand for restocking in the market, it's noteworthy that the pace of inventory reduction currently remains sluggish, with substantial levels of inventory consolidation still evident. Consequently, this aspect contributed to the weekly decrease in Cold Rolled Coil prices for DEL-Illinois (USA) by April 26th.

Germany's Cold Rolled Coil prices experienced a 0.2% decrease by the end of week due to ongoing sluggishness in demand. Despite this trend, the Germany pet coke market remained stable, albeit with a slight downward trend in the third week of April 2024. Within Germany's domestic market, there was an excess of Cold Rolled Coil. The drop in Cold Rolled Coil prices is attributed to weak demand from more Asian counterparts. These factors combined resulted in a weekly decrease in Cold Rolled Coil prices in FD-Ruhr (Germany).

Meanwhile, Cold Rolled Coil prices in China saw a slight increase of 0.3%. Simultaneously, freight costs from the Mediterranean to China and East Asia surged by 16.8% on April 26th. Furthermore, petroleum coke prices rose by 6.9% in the week ending April 19th. Far Eastern mills are keeping a close watch on domestic market sentiment in China and purchasing trends in Europe, Turkey, and other significant consumer nations. As a result, there is a heightened focus on export sales in Asia, leading to a minor uptick in Cold Rolled Coil prices.

ChemAnalyst predicts that in the United States, the demand from automotive industry may grow and expected to drive an increase in prices amid positive market outlook. Meanwhile, Germany may recover from constrained downstream sectors and set to stimulate the demand for Cold Rolled Coil, especially in the automotive sector. China may expect robust sales that will improve the supply-demand equilibrium, boosted by rapid government-backed construction projects and restoration initiatives, all of which will contribute to a rise in demand for Cold Rolled Coil in the market.