Stainless Steel Round Bar Prices, Pricing, Demand & Supply, News, Market Analysis | ChemAnalyst

North America

In the second quarter of 2023, the United States experienced initial growth in the Stainless Steel Round Bar market during April, followed by a subsequent decline in the latter half of the quarter. The upswing in the global price of raw material nickel in April provided essential cost support for the production of stainless-steel round bars. Strong purchasing activity at the beginning of the quarter resulted in a higher consumer price index, indicating a promising start to Q2. Robust domestic forward demand contributed to a sustained consumption rate. The service sector witnessed significant growth, allowing for service offerings at elevated bid prices, driven by increased market demand. However, in the latter part of the second quarter, prices experienced a slight decrease, primarily attributed to a debt crisis and rising inflation. The stable economic structure of the United States unraveled, leading to a pessimistic market situation. The Stainless-Steel Round Bar prices rebounded in June when the US government extended the debt by two years, stabilizing the US economy. Rising interest rates, increased living costs, and diminishing household savings weakened consumer purchasing power, resulting in a decline in demand for stainless steel round bars in the US spot market. At the end of the second quarter, various projects initiated by the US government bolstered the demand for stainless steel round bars.

Asia-Pacific

In the second quarter of 2023, the price of stainless-steel round bars in the Chinese market experienced a decrease. April witnessed price increases in response to the initial rise in the price of raw material nickel in the early part of the quarter. Favorable market conditions and profitable stainless-steel production facilities characterized the period. The positive market sentiment, supported by an increase in money in the Chinese market and a reduction in nickel inventories, contributed to the price hike. A surge in the price of scrap stainless steel expanded the market for nearby Chinese factories. However, the price of stainless-steel round bars declined in the latter half of the second quarter. A negative market sentiment emerged in May due to rising inflation and uncertainties in the macroeconomic outlook. The Liyang stainless steel factory's plan to increase billet production capacity led to high production rates in Chinese factories. Slower construction activity in the spot market, driven by China's unstable economy and regional holidays, contributed to the decline. Towards the quarter's end, the Chinese government introduced incentives to improve its financial position. As market sentiment became volatile, consumers hesitated to place significant orders, prompting local factories to reduce the offering price of stainless-steel round bars across China.

Get Real Time Prices of Stainless Steel Round Bar: https://www.chemanalyst.com/Pricing-data/stainless-steel-round-bar-1499

Europe

In the second quarter of 2023, German stainless steel round bar prices witnessed an initial increase followed by a subsequent decline. April saw a rise in the price of raw material nickel, providing robust cost support for the production of stainless-steel round bars in German factories. Increased demand in the local downstream automotive industry, especially in electric cars, kept prices high in April on the German spot market. However, in the latter part of the second quarter, the global economic situation deteriorated, and inflation rose, creating a pessimistic market sentiment among buyers. The production volume of local factories increased due to decreased secondary demand, resulting in a decrease in the price of stainless-steel round bars. Surplus availability at lower prices from overseas Chinese producers exerted pressure on German stainless steel round bars in both domestic and foreign markets. To maintain competitiveness in the global market, factories had to sell at reduced prices. The combined impact of the global economic downturn and increased supply caused a drop in the price of Stainless-Steel Round Bars in the German spot market.

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Created on Oct 25th 2023 07:19. Viewed 119 times.

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