Global Cold Rolled Coil Prices Witness a Fall Amidst Global Market Fluctuations

By the week ending May 10^th, Cold Rolled Coil prices in the US market experienced a marginal decline. This price fall sparked discussions among market participants, questioning the impact of regular announcements of base prices by domestic mills. The reduction in Cold Rolled Coil prices was primarily influenced by decrease in the prices of feedstock Pet Coke Calcined Grade on May 10^th. Additionally, there was a decrease in automobile sales volume from March to April shows low demand of Cold Rolled Coil. Meanwhile, Germany saw a slight increase in Cold Rolled Coil prices. However, concerns arose due to Germany's slower-than-expected economic recovery and a slight decline in domestic Cold Rolled Coil inventories. Similarly, Cold Rolled Coil prices in China experienced a decrease during the same period, influenced by broader trends of declining national producer prices for industrial goods. Despite slight improvements in demand, oversaturation in the global market led to a slight decrease in prices.

By the conclusion of the week ending May 10^th, there was a marginal 0.4% decrease observed in Cold Rolled Coil prices within the US market. Discussions among market participants were ignited by the decline in Cold Rolled Coil prices in the US, questioning the impact of domestic mills' regular announcements of their base prices. The decrease in Cold Rolled Coil prices was driven by a 4.5% reduction in the prices of feedstock Pet Coke Calcined Grade on May 10^th. Furthermore, there was an 8.7% decrease in automobile sales volume from March to April. Consequently, these factors collectively contributed to the reduction in Cold Rolled Coil prices by May 10^th.

As of May 10^th, Germany saw a slight uptick of 0.2% in Cold Rolled Coil prices. Shipping expenses from China/East Asia to Northern Europe surged by 17% within the same period. However, concerns emerged as Germany's economic revival advanced at a slower pace than anticipated. Domestically, there was a minor decline in Cold Rolled Coil inventories. Delays in scheduled orders affected both the performance and pricing of Cold Rolled Coil. These diverse factors collectively led to a price increase in Cold Rolled Coil compared to the prior week.

Throughout the week ending May 10^th, there was a decrease of 0.2% observed in Cold Rolled Coil prices in China. In April 2024, China's national producer prices for industrial goods saw a decline of 2.5% compared to the previous year, while national purchasing prices for industrial producers dropped by 3.0% year on year. These declines, although slightly less severe than the previous month, were evident in data from NBS China. Despite improvements in demand, the global market for Cold Rolled Coils remains oversaturated. Consequently, prices for Cold Rolled Coils experienced a slight decrease, likely influenced by seasonal demand variations and adjustments in inventory. Consequently, Cold Rolled Coil prices witnessed a minor downturn.

As per ChemAnalyst, heightened demand from downstream sectors within the USA is poised to impact Cold Rolled Coil prices. The construction industry's amplified procurement activities might propel price escalations. Foreseen endeavours by the German government to rejuvenate the Cold Rolled Coil sector are expected to exert an upward pressure on prices. Additionally, China's expanding demand within the automotive sector could elevate global Cold Rolled Coil demand, potentially influencing forthcoming prices.