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North America Steel Plate prices in the North American region upsurged during the first quarter of 2023. Initially, demand picked up moderately, reflecting lower stock levels following the holiday season. Service centers reported increased customer inquiries and shipments, but few were interested in stocking up on steel products, especially with lead times not extending any further than they had. In mid-Q1, the domestic steelmakers kept prices elevated owing to the rising raw material costs. As per the buyer, major players were raising costs to compete with the import offers. In March, mills continued to raise spot market offers, but demand remained steady as buyers continued to review their order books. Lead times increased to 7-8 weeks from 6-7 weeks. Confirmed orders were agreed upon and protected until the order was completed and shipped. Therefore, prices of the Steel plate for Ex-Work Texas were assessed at USD 1702/MT on March 31. Asia- Pacific In the first quarter of 2023,...

North America In the first quarter of 2023, the US Cold Rolled Coil Prices saw an unprecedented surge in prices as mills attempted to push prices up due to a tight market and longer lead times. Supply constraints were exacerbated by planned outages and failed mill ramp-ups, prompting steelmakers to take command of output levels. Steelmakers tightened their grip on production levels, dropping capacity utilization rates below 80%. However, demand dynamics remained at a lower level despite rising prices, making buyers hesitant to make forward purchases. The market reacted sluggishly to the price hike announcement, and spot inquiries dwindled as buyers attempted to determine whether a peak had been reached. CRC lead times reached an all-time high at the end of March, but the increased lead times did not appear to increase demand or allow mills to reserve more expensive spot tonnes. As a result, buyers continued to assess their order books and limit contract purchases to manage their inv...

North America In the first quarter of 2023, the US Cold Rolled Coil Prices saw an unprecedented surge in prices as mills attempted to push prices up due to a tight market and longer lead times. Supply constraints were exacerbated by planned outages and failed mill ramp-ups, prompting steelmakers to take command of output levels. Steelmakers tightened their grip on production levels, dropping capacity utilization rates below 80%. However, demand dynamics remained at a lower level despite rising prices, making buyers hesitant to make forward purchases. The market reacted sluggishly to the price hike announcement, and spot inquiries dwindled as buyers attempted to determine whether a peak had been reached. CRC lead times reached an all-time high at the end of March, but the increased lead times did not appear to increase demand or allow mills to reserve more expensive spot tonnes. As a result, buyers continued to assess their order books and limit contract purchases to manage their inv...

North America In the final quarter of 2022, the Steel Plate prices plunged in the US market owing to the limited inquiries from the downstream segment. In October, major manufacturers were curtailing production activity to fill the supply-demand gap. The Mississippi River's water level had dropped so low that barges had become stuck, resulting in costly dredging and traffic congestion. According to manufacturers, Steel Plate fell as the market remains concerned about logistics. As shippers cannot load as much weight on a barge at low water levels, barges became much more expensive, causing shipping delays. Towards the quarter's end, the inventory level dropped, and Steel Plate manufacturers started raising prices, anticipating a higher demand outlook before the Christmas holiday. Buyers had opted wait-and-watch outlook as the market slowed ahead of the holidays. Thus, Steel Plate (20 mm) prices for Ex Works Texas (USA) settled at USD 1605/MT. Asia Pacific In the Chinese ma...

North America In the final quarter of 2022, the Steel Plate prices plunged in the US market owing to the limited inquiries from the downstream segment. In October, major manufacturers were curtailing production activity to fill the supply-demand gap. The Mississippi River's water level had dropped so low that barges had become stuck, resulting in costly dredging and traffic congestion. According to manufacturers, Steel Plate fell as the market remains concerned about logistics. As shippers cannot load as much weight on a barge at low water levels, barges became much more expensive, causing shipping delays. Towards the quarter's end, the inventory level dropped, and Steel Plate manufacturers started raising prices, anticipating a higher demand outlook before the Christmas holiday. Buyers had opted wait-and-watch outlook as the market slowed ahead of the holidays. Thus, Steel Plate (20 mm) prices for Ex Works Texas (USA) settled at USD 1605/MT. Asia Pacific In the Chinese ma...

North America In the final quarter of 2022, the Steel Plate prices plunged in the US market owing to the limited inquiries from the downstream segment. In October, major manufacturers were curtailing production activity to fill the supply-demand gap. The Mississippi River's water level had dropped so low that barges had become stuck, resulting in costly dredging and traffic congestion. According to manufacturers, Steel Plate fell as the market remains concerned about logistics. As shippers cannot load as much weight on a barge at low water levels, barges became much more expensive, causing shipping delays. Towards the quarter's end, the inventory level dropped, and Steel Plate manufacturers started raising prices, anticipating a higher demand outlook before the Christmas holiday. Buyers had opted wait-and-watch outlook as the market slowed ahead of the holidays. Thus, Steel Plate (20 mm) prices for Ex Works Texas (USA) settled at USD 1605/MT. Asia Pacific In the Chinese market...