Cold Rolled Steel Sheet Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Cold Rolled Steel Sheet in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Cold Rolled Steel Sheet Price Trend for Second Half of 2023

Cold rolled steel sheet has extraordinary strength, and durability and thus it is used in many industrial applications. These applications include the manufacturing of machinery, furniture, and other consumer goods such as appliances, construction, roofing, siding, and automobiles, where they are used for body panels and other components. These industries thus acquire the major share among the market drivers of cold rolled steel sheets and have a significant influence on the trajectory of its prices.

Cold Rolled Steel Sheet Price Chart

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In the later months of 2023, the China Iron and Steel Association projected a limited growth in steel prices due to the onset of the off-season for steel consumption driven by the winter weather. Although steel production declined, it failed to meet market expectations, exacerbating the supply-demand imbalance further in the last quarter of the year.

Daily steel production at CISA member mills decreased by 4.2% from November to December alone, signaling a downward trend. In addition to this, the steel stocks in trader's warehouses decreased consistently in the third and fourth quarters of 2023, while those held by domestic producers increased, indicating trader inactivity and exerting pressure on the domestic cold rolled steel sheet price trend.

Further, rising prices for steel raw materials added pressure on the production costs despite slower steel price growth. Thus, on account of the limited availability of the product and scarcity of raw materials along with the rise in the downstream demand of cold rolled steel sheets, the prices of the commodity inclined gradually throughout H2 of 2023.

Analyst Insight

According to Procurement Resource, the price trend of Cold Rolled Steel Sheet is expected to be based on the positive momentum of the downstream industries and inclination in the cost of raw materials.

Cold Rolled Steel Sheet Price Trend for the First Half of 2023

Cold Rolled Steel Sheets are a more processed form of steel sheets using cooling and annealing processes, which are primarily used in engineered products that require high tolerances, concentricity, straightness, and surface conditions. So, the downstream demands from various industrial machinery, automobiles, and appliance sectors determine the Cold Rolled Steel Sheet’s market fundamentals.

In the Chinese domestic market, the Cold Rolled Steel Sheet prices stood at an average of about 666 USD/MT in January’23, which further inclined to about 698 USD/MT by the end of the first quarter. However, the prices declined and ended the second quarter at an average of about 628 USD/MT.

Similarly, in the Indian domestic market, the average spot prices increased by about 5% till April 2023 and then declined to about 747 USD/MT in June 2023. Hence, the Cold Rolled Steel Sheet observed mixed market sentiments throughout the said period, with prices mostly inclining in the first quarter and declining in the second.

Analyst Insight

According to Procurement Resource, with fluctuating demands from the downstream sectors, the Cold Rolled Steel Sheet prices will continue to fluctuate in the upcoming months as well.

Procurement Resource provides latest prices of Cold Rolled Steel Sheet. 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.