For the Quarter Ending March 2025
North America
The North American Cold Rolled Sheet market experienced a significant upward trend in Q1 2025, driven by a combination of global and regional factors influencing both supply and demand dynamics. During Q1 2025, with prices settling at USD 1,395/MT CFR Manzanillo in Mexico.聽
The quarter revealed a 5% incline between Q1 quarter and Q4 last year, underscoring the bullish sentiment in the market. Supply constraints were a major factor, stemming from global disruptions such as import restrictions, port congestions, and broader inefficiencies in supply chain operations. These constraints limited the availability of product in the region, creating upward pressure on prices. At the same time, the demand for product in North America increased, particularly from industries tied to production, solidifying the market's positive momentum.聽
The Mexico demonstrated the most significant price changes, with an increase recorded indicating a steady upward trend. Despite disruptions in the supply chain, the pricing environment remained optimistic throughout the quarter, bolstered by rising domestic demand and constrained imports.
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The European Cold Rolled Sheet market demonstrated significant weakness in Q1 2025, with prices settling at USD 818/MT Fed-Ruhr in Germany, representing a 1.3% decline from Q4 2024. This downward movement reflects a confluence of challenging market conditions affecting the region. Additionally, Germany emerged as the epicentre of price movements, setting the tone for the broader European market. The quarter was characterized by persistent oversupply conditions, while demand remained subdued. Global economic uncertainties and ongoing geopolitical tensions further complicated the market landscape, adding to the bearish sentiment. Moreover, Key end-user sectors, notably automotive and construction, continued to show weakness in consumption patterns. This reduced demand, combined with abundant supply availability, maintained steady downward pressure on prices. Both year-over-year and quarter-over-quarter comparisons indicated negative growth, underlining the sustained nature of market challenges. While pricing pressures were evident across Europe, Germany's market conditions proved particularly influential in shaping regional trends. In a result the combination of oversupply, weakened demand, and regulatory challenges created a consistently bearish pricing environment throughout the quarter.
APAC
The APAC Cold Rolled Sheet market demonstrated persistent weakness during Q1 2025, with prices in China settling at USD 561/MT, marking a 2.7% decline from the previous quarter. This downward trajectory reflects a complex interplay of market forces affecting the region. Additionally, China emerged as the primary price influencer, experiencing the most significant fluctuations throughout the quarter. The market faced multiple headwinds, including disrupted logistics networks, volatile raw material costs, and shifting international trade patterns. Traditional seasonal factors, including the off-season period and adverse weather conditions, added another layer of complexity to the already challenging market environment. Moreover, Consumption patterns showed notable weakness across key sectors. The combination of reduced demand and abundant supply availability created sustained downward pressure on prices. The bearish sentiment was further reinforced by broader economic uncertainties affecting the region. Furthermore, while price pressures were evident throughout the APAC region, China's market conditions dominated regional pricing trends. The confluence of supply-side challenges and weakened demand fundamentals maintained negative price momentum throughout the quarter, setting a bearish tone for the broader regional market.
For the Quarter Ending December 2024
North America
The North American Cold Rolled Sheet market witnessed a downward price trajectory throughout the quarter fourth of 2024. The quarter revealed a decline between its fourth and third quarter, reflecting significant market pressures. Additionally, the quarter was characterized by a clear supply-demand imbalance, with excess supply levels dominating market conditions. Global trade dynamics, particularly increased imports, created additional complexity in the market landscape.
Mexico emerged as the focal point of price movements within the region, experiencing the most substantial declines compared to the previous year. Key consuming sectors, notably automotive and construction, demonstrated weakened demand patterns. This reduction in consumption, combined with abundant supply, created persistent downward pressure on prices. The sequential quarterly decline highlights the ongoing challenges in stimulating market demand.
While the entire North American region faced pricing challenges, Mexico's market conditions proved particularly noteworthy. As a result, the combination of excess supply and weakened demand maintained consistent downward pressure on prices throughout the quarter, creating a challenging environment for market participants.
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The European Cold Rolled Sheet market demonstrated significant weakness in Q4 2024, representing a decline from Q3. This downward movement reflects a confluence of challenging market conditions affecting the region. Additionally, Germany emerged as the epicentre of price movements, setting the tone for the broader European market. The quarter was characterized by persistent oversupply conditions, while demand remained subdued. Global economic uncertainties and ongoing geopolitical tensions further complicated the market landscape, adding to the bearish sentiment. Moreover, Key end-user sectors, notably automotive and construction, continued to show weakness in consumption patterns. This reduced demand, combined with abundant supply availability, maintained steady downward pressure on prices. Both year-over-year and quarter-over-quarter comparisons indicated negative growth, underlining the sustained nature of market challenges. While pricing pressures were evident across Europe, Germany's market conditions proved particularly influential in shaping regional trends. As a result, the combination of oversupply, weakened demand, and regulatory challenges created a consistently bearish pricing environment throughout the quarter within the European region.
APAC
The APAC Cold Rolled Sheet market demonstrated persistent weakness during Q4 2024, with prices in China, marking a decline from the previous quarter. This downward trajectory reflects a complex interplay of market forces affecting the region. Additionally, China emerged as the primary price influencer, experiencing the most significant fluctuations throughout the quarter. The market faced multiple headwinds, including disrupted logistics networks, volatile raw material costs, and shifting international trade patterns. Traditional seasonal factors, including the off-season period and adverse weather conditions, added another layer of complexity to the already challenging market environment. Moreover, Consumption patterns showed notable weakness across key sectors. The combination of reduced demand and abundant supply availability created sustained downward pressure on prices. The bearish sentiment was further reinforced by broader economic uncertainties affecting the region. Furthermore, while price pressures were evident throughout the APAC region, China's market conditions dominated regional pricing trends. The confluence of supply-side challenges and weakened demand fundamentals maintained negative price momentum throughout the quarter, setting a bearish tone for the broader regional market.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Cold Rolled Sheet market experienced a period of decreasing prices, influenced by several significant factors. The market was primarily impacted by a supply and demand imbalance, with excess supply levels leading to downward pressure on prices. Weak demand from key sectors such as automotive and construction played a crucial role in driving prices lower. Additionally, global market dynamics, including increased imports and trade uncertainties, further contributed to the pricing decline.聽
In Mexico, the market saw the most significant price changes, with prices dropping compared to the same quarter last year. The quarter-on-quarter charge recorded a decrease, highlighting the continued negative trend. The price comparison between the first and second half of the quarter showed a decline, reflecting the sustained downward trajectory.聽
Additionally, the excess supply, coupled with weakening demand, is contributing to the overall pricing decline in the Cold Rolled Sheet market. Furthermore, the latest quarter-ending, signalling a persistently negative pricing environment in the region.
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In Q3 2024, the Europe Cold Rolled Sheet market witnessed a continued decline in prices, reflecting a challenging environment marked by weak demand and oversupply conditions. Several factors influenced market prices, including sluggish demand in key sectors like automotive and construction, leading to subdued consumption of Cold Rolled Sheet. Moreover, the market faced headwinds from global economic uncertainties, ongoing conflicts, and regulatory challenges, all contributing to the negative price trends. Germany, experiencing the most significant price changes in the region, saw a notable decrease in Cold Rolled Sheet prices. Moreover, Overall trends indicated a negative change from the same quarter last year, with a further decline from the previous quarter in 2024.Additioanly, the correlation in price changes between the first and second half of the quarter remained decline, indicating a consistent downward trajectory. Moreover, demand for Cold Rolled Sheet in Germany continues to be weak, which is grappling with regulatory uncertainties. The quarter-ending in Germany, underscoring the prevailing negative sentiment and challenging market conditions.
APAC
The third quarter of 2024 for Cold Rolled Sheet in the APAC region has been marked by a significant decrease in prices, driven by a multitude of factors. The market has experienced a decline from the same quarter last year, with a further decline from the previous quarter. Additionally, the overall trend has been negative, with a decrease in pricing between the first and second half of the quarter.聽
China, as a key player in the region, has seen the maximum price changes, with prices declining consistently. Moreover, market dynamics have been influenced by a combination of increased supply, weakened demand, and global economic uncertainties. Additionally, the Cold Rolled Sheet market in China has faced challenges in logistics, raw material costs, and international trade dynamics. Furthermore, Seasonal factors, such as the off-season period and adverse weather conditions, have also played a role in the declining prices.聽聽
The latest quarter-ending price for Cold Rolled Sheet in China, reflecting the overall decreasing sentiment in the pricing environment.聽
For the Quarter Ending June 2024
North America
During Q2 2024, the Cold Rolled Sheet (CRS) market in North America experienced a downward trend in pricing, driven primarily by an oversupply and diminishing demand across various sectors. The quarter saw a consistent decrease in CRS prices, influenced predominantly by high inventory levels, reduced construction activity, and a sluggish manufacturing sector. Elevated interest rates continued to suppress purchasing activity, further exacerbating the imbalance between supply and demand. Geopolitical tensions and economic uncertainties also contributed to a negative market sentiment, leading to cautious behaviour among buyers and restrained restocking efforts by service centres.
In the USA, the decline in Cold Rolled Sheet prices was particularly pronounced. An overall bearish market sentiment prevailed throughout the quarter, accentuated by significant price adjustments from major steelmakers like Nucor. The construction sector's continued sluggishness, coupled with high interest rates, played a critical role in reducing demand. Moreover, the decrease in domestic crude steel production added to the extensive oversupply, further pushing prices downward. The correlation between reduced demand and high inventories was evident, leading to a 2% price drop in the latter half of the quarter compared to the first half.聽
The decreased pricing environment culminated in the latest quarter-ending price for CR Sheet, highlighting a generally negative pricing environment. The overall sentiment for Q2 2024 was undeniably negative, marked by continuous price declines and a challenging market landscape.
Europe
The second quarter of 2024 has seen stable pricing for Cold Rolled Sheet (CRS) in the European region, shaped by various factors. The market has experienced balanced dynamics, with supply and demand remaining largely congruent. A steady influx of raw materials, coupled with moderate production levels, has contributed to maintaining equilibrium in prices. Additionally, the market has not been significantly impacted by external economic shocks or geopolitical tensions, allowing for a consistent pricing environment.
Throughout the quarter, prices remained consistent between the first and second halves, underscoring the stable market environment. This stability indicates a balanced market where supply meets demand without significant disruptions. The CRS price for (Germany) concluded the quarter, reflecting a stable pricing trend.
Overall, the pricing environment for CRS in Germany and Europe has been stable, supported by balanced supply-demand dynamics and strategic market behaviour. This equilibrium has fostered a consistent market sentiment that is neither overly positive nor negative, ensuring a predictable and steady pricing trajectory.
APAC
The second quarter of 2024 has been marked by a persistent decline in Cold Rolled Sheet (CRS) prices across the Asia-Pacific (APAC) region, driven by several significant factors. The overarching sentiment has been negative due to an imbalance in supply and demand. An oversupply situation, exacerbated by high production rates and sluggish downstream sectors, has been the primary force pushing prices downward. Economic instability and a tepid recovery in major sectors such as construction and automotive have further dampened demand. Steel manufacturers, facing high inventories, have increasingly resorted to exporting surplus stock, often at marginal profits, thus contributing to a competitive pricing environment.
In Malaysia, the impact has been particularly pronounced. The country has witnessed the steepest price changes within the region, highlighting a significant downward trend. Seasonal factors and subdued market sentiments have played critical roles in this price decline.聽
Concluding the quarter, for CR Sheet in Malaysia declined. This consistent decrease reflects a negative pricing environment underscored by overcapacity, weak demand, and competitive international markets, positioning the industry in a challenging landscape with no immediate signs of recovery.
