First Quarter of 2023 in Asia- Pacific Stainless Steel Round Bar Prices

1. First Quarter of 2023 in Asia- Pacific Stainless Steel Round Bar Prices North America In the North American region, the pricing trend for Stainless-Steel Round Bar varied over the three months in the first quarter of 2023. Initially, there was a stagnancy in the pricing trend for SS Round Bar due to consistent downstream inquiries. However, stocks available in the spot market increased significantly as stainless-steel factories increased product distribution. In February, the rates for SS Round Bar increased by more than 1.2% despite a lack of forward visibility and persistent recessionary concerns that continue to erode buyer confidence in the United States. However, the prices for SS Round Bar declined in March due to fewer spot sales or purchases owing to slow demand amid plentiful inventory available in the domestic market. Furthermore, weak orders from end-user industries were observed as they were wary of purchasing it at offered prices in such a volatile market. Therefore, prices of Stainless Steel Round Bar for Ex Philadelphia settled at USD 7480/MT on March 31. Asia- Pacific In the Asia-Pacific region, the Stainless Steel Round Bar Prices declined in the first quarter of 2023 due to high inventory levels and subdued downstream demand. Market participants reported that both stainless steel and nickel prices fell during this quarter, which eased cost pressure on finished products. Stainless steel mills resumed production after the Chinese New Year holiday, but the increased production resulted in low demand and high inventory. Despite prices falling further in March, they were still higher than spot transaction prices, and buyers were waiting for further price drops. Spot transactions were slow, and overseas demand was weak, making it a difficult quarter for sellers. As a result, the price of the Stainless Steel Round Bar for Ex Dainan settled at USD 2468/MT on March 31. Europe In the European region, Stainless-Steel Round Bar showcased a mixed-price trend during the first quarter of 2023. Initially, the prices increased in Germany as the downstream inquiries and demand from service centers, and re-rollers were strong. There was positive momentum, but because so much restocking occurred in December, market activity was stable in January, especially with the Chinese New Year approaching. Also, a lack of competitive imports contributed to price increases. However, the prices approached a downward trend entering February as a result of declining demand and a lack of clarity over the direction of the market for stainless steel consumption. The trading in the European SS Round Bar market remained dull as purchasers had a wait-and-see attitude and avoided large bookings. Long-product Stainless steelPrices makers were eager for sales amid high stockpiles, due to which they decreased the prices of SS Round Bar in the final month of a quarter. Therefore, prices of Stainless Steel Round Bar for Ex Ruhr settled at USD 3917/MT on March 31. ChemAnalyst tackles the primary difficulty areas of the worldwide chemical, petroleum, pharmaceutical, and petrochemical industries, empowering decision-makers to make informed decisions. It examines and analyses geopolitical risks, environmental concerns, raw material availability, supply chain functioning, and technological disruption. It focuses on market volatility and guarantees that clients manage obstacles and hazards effectively and efficiently. ChemAnalyst's primary expertise has been data timeliness and accuracy, benefiting both local and global industries by tuning in to real-time data points to execute multibillion- dollar projects internationally.