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For the Quarter Ending September 2023 North America In the third quarter, the US market for  hot-rolled stainless steel coils  experienced a downturn in prices, attributed to various factors. Local inventories surged, and increased availability of feedstock contributed to the overall price decline. Reduced prices of raw iron ore, stemming from expanded output in Australia and Indonesia, coupled with lower costs of coking coal and fuel, further fueled the downward trend. The US Federal Reserve's decision to raise interest rates added a bearish sentiment, impacting both domestic and international orders. Slight growth in upstream steel production resulted in an excess of crude steel, while US automakers faced heightened competition from the thriving Chinese electric vehicle industry. Abundant supplies of stainless-steel hot-rolled coils persisted, with weak demand persisting due to challenges such as Russian sanctions affecting energy supply, OPEC export restrictions, the ongoin...

For the Quarter Ending June 2023 North America During the second quarter, the price of  Stainless-Steel HR Coil  in North America experienced a decline, primarily attributed to the deteriorating economic conditions. The USA's economy saw a downturn as major banks faced crises, leading to a debt crisis. The combination of rising inflation rates and increased interest rates cast a pessimistic shadow over the market sentiment. Consequently, the weakened economic state reduced buyers' purchasing power and led to a surge in local Stainless Steel inventory levels. Initially, the first half of Q2 witnessed a sustainable rise in Stainless-Steel HR Coil prices, driven by a rebound in feedstock Nickel prices. US mills maintained high base prices, and the addition of alloy surcharges further boosted prices in the US spot market. However, market conditions worsened in the latter half of the quarter, with reduced consumption from the downstream automotive sector due to lower sales amid the...