Get the latest insights on price movement and trend analysis of Stainless Steel in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Stainless Steel Price Trend for the First Half of 2023
The high level of inventories and slow movement of the downstream industries caused the price trend of stainless steel to fall in the first quarter of 2023. The raw materials in the region also remained scarce, and the consumers also moved with caution, which ultimately led to a fall in industrial demand.
In April, an incline in the cost of nickel metal positively supported the price trend of stainless steel in China market. But soon, the excess supply attributed to the high extraction rates of the nickel and feeble demand from industries in the later months caused the price trend of stainless steel to decline.
In the first quarter, the prices of stainless steel were stable as the supply of the product was restricted while the demand from downstream industries remained high. In addition to this, the stainless-steel market in the first quarter was also supported by the raw material costs and return of consumption levels to the green zone. This trend continued till the first phase of the second quarter, after which the prices fell dramatically.
The upsurge in prices of nickel raw material negatively impacted the cost of production and, in turn, the price trend of stainless steel. Additionally, the downstream market’s appetite also declined, and the traders had to compete with the cheaper imports from Asian countries and thus were forced to reduce their prices.
The North American region was positively influenced by the rise in demand for stainless steel from the construction industry amid the financial crisis. The rising costs of production due to the economic crises led to the fall in production rates of stainless steel and thus caused the depletion of inventories in the region. Just like the European region, the trend inclined till the first half of the second quarter but then declined as it was negatively impacted by the rising rates of inflation and the steep downfall of the economic conditions of the North American region.
According to Procurement Resource, the price trend of Stainless Steel is estimated to follow a declining trajectory given the fluctuating global economic conditions and the subdued demand from the end-user industries.
Procurement Resource provides latest prices of Stainless Steel. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Stainless steel is a popular alloy of iron and chromium with trace amounts of carbon, nickel, and molybdenum. This steel has high resistance to corrosion along with high strength and durability. Due to its high corrosion resistance, it finds application in various industries such as construction, transportation, oil and processing and related sectors. Its high ductility enables it to be reformed into various shapes according to the specific requirements.
|Product Name||Stainless Steel|
|Industrial Uses||Construction, Transportation, Oil and gas, Chemical and petrochemical, Medical and pharmaceuticals|
|Supplier Database||Acerinox S.A, Aperam Stainless, ArcelorMittal, Jindal Stainless, Nippon Steel Corporation, ThyssenKrupp Stainless GmbH|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The scrap steel material is first subjected to an arc furnace and after molting, the matter is purified and then cast into solid structures. Another heat treatment of these cast materials with subsequent cleaning and polishing gives stainless steel as the end product.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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