Stainless Steel HR Coil Price In USA
- USA: 3041 USD/MT Stainless Steel-304 HR Coil (5 mm)
The price of stainless steel HR coil (5 mm, 304 grade) in the USA for Q4 2023 reached $3041 per metric ton. In October 2023, prices were driven higher by increased demand from the chemical and automotive sectors and constrained upstream material supplies. Additionally, rising US bond yields, a strong ISM industrial index, and unsuccessful negotiations in a steel dispute between the EU and the US impacted the market.
The latest report by IMARC Group, titled "Stainless Steel HR Coil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of stainless steel hr coil price trend. This report delves into the price of stainless steel hr coil globally, presenting a detailed analysis, along with informative stainless steel hr coil price chart. Through comprehensive stainless steel hr coil price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the stainless steel hr coil demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Stainless Steel HR Coil Prices December 2023:
- USA: 3041 USD/MT Stainless Steel-304 HR Coil (5 mm)
- Germany: 2354 USD/MT Stainless Steel-304 HR Coil (5 mm)
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The study delves into the factors affecting stainless steel hr coil price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Stainless Steel HR Coil Price Trend- Q4 2023
The Stainless-Steel hot rolled (HR) Coil market is driven by the rapid industrialization and urbanization in emerging economies have significantly increased the need in construction, infrastructure, and manufacturing sectors due to their strength, durability, and corrosion resistance. Additionally, the automotive industry is another major driver, as the demand for lightweight, high-strength materials to improve fuel efficiency and reduce emissions continues to rise. Moreover, the expansion of the consumer goods sector, including kitchen appliances and electronics, fuels the demand for stainless steel HR coils. Ongoing technological advancements in production processes have enhanced the quality and performance of HR coils, making them more attractive to end-users. Besides this, environmental regulations and the push for sustainable practices have also led to the adoption of stainless steel, which is fully recyclable, in various applications.
Stainless Steel HR Coil Market Analysis
The global stainless steel HR coil market size recorded 182.3 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 278.0 Million Tons, at a projected CAGR of 4.80% during 2023-2032. In the fourth quarter of 2023, the North American stainless steel HR coil market experienced stability despite uncertain sentiments in the US spot market. October saw elevated prices driven by strong demand from the chemical and automotive sectors and limited material supplies. However, in November, prices fell due to increased production and lower consumption. December continued the downward trend with high inventory levels and reduced demand during the holidays. The global Nickel mining industry grew, with notable contributions from the Minnesota project. In line with this, US industries shifted investments from Brazil to China to enhance competitiveness, while winter weather and policy uncertainties subdued demand. Furthermore, the APAC region also saw a significant decline in October due to anti-dumping duties in the US and Europe, uncertainty about steel scrap and Nickel availability, and pessimistic market sentiment.
As the quarter progressed, increased Nickel supply and the cost-effectiveness of recycled materials further reduced prices. By December, despite stable prices, global demand waned due to adverse weather and increased Nickel supply. Along with this, the European region saw stable prices. In October, Germany experienced a price increase due to higher demand from the automotive and chemical sectors and a decrease in raw material supply. The EU Carbon Border Tax's introduction led to initial challenges, with EU steelmakers pushing for an export ban on ferrous scrap amid concerns over future availability. Efforts for green direct reduced Iron production were paused, while UK consumer stocks showed resilience despite a market slowdown. Claims of circumvention against products from Turkey, Taiwan, and Vietnam were weak, raising concerns about EU steel producers' self-interest.
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Key Points Covered in the Stainless Steel HR Coil Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Stainless Steel HR Coil Prices
- Stainless Steel HR Coil Price Trend
- Stainless Steel HR Coil Demand & Supply
- Stainless Steel HR Coil Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Stainless Steel HR Coil Price Analysis
- Stainless Steel HR Coil Industry Drivers, Restraints, and Opportunities
- Stainless Steel HR Coil News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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