Chemical Price | Prices | Pricing | Monitoring | ChemAnalyst

For the Quarter Ending June 2023 North America The US spot market experienced a decline in the overall  price of steel plates  during the second quarter of June 2023. This was primarily attributed to the country's declining economic situation and a higher inventory level. In April, there was a glimmer of hope for the steel plate market as prices were high initially. However, production cuts were observed as the joint company of US Nucor and Japanese Yamato Kogyu – Nucor Yamato, shut down from April 9th to 16th. The Nucor mill increased the price of steel plates due to a decrease in lead time. However, in the latter half of the second quarter, prices went downward. The economic uncertainties caused by the debt crisis and the fall of major US banks created a pessimistic market sentiment. Consequently, the demand from the downstream automobile industry declined, leading to the shutdown of major automotive companies like Nissan, Kia, and Sedan in June. This reduction in consumptio...