Stainless Steel Round Bar Prices Trend and Forecast

North America

During the third quarter of 2022, the Stainless-Steel Round bar prices rose in the US market amidst a sluggish demand outlook. Market players cite that US steel prices have been under significant pressure for most of 2022, driven by weakening downstream demand, conservative service center buying, and persistently high supply. However, rising signs of a recession had kept many buyers on the fence, fearful of being saddled with overpriced steel inventories if the downturn worsened. Furthermore, many buyers refused to make purchases that would increase their inventories and preferred to keep stocks tight rather than take risks in an uncertain market. Furthermore, in their most recent earnings reports, steelmakers indicated that they believe demand will remain stable or increase, citing persistent backlogs. Thus, SS 304 Round Bar (25 mm) prices for FOB New York Port (USA) settled at USD 10637/MT.

Asia

During the third quarter of 2022, the Stainless-Steel Round bar prices witnessed a mixed sentiment owing to the limited buyer inquiries. Buyers who had depleted their stockpiles booked even small quantities so that their products could continue. Most buyers awaited the tender price for September delivery from Chinese steel mills. As a result, the cost of ferrochrome has remained stable. With the festive season, India's stainless-steel mills returned to normal production levels. Stainless steel demand is typically higher in India during the festive season. However, the outlook from India's top export destination, China, remains unchanged. Small-scale buyers have been deferring purchases in anticipation of a lower price in the next round of purchase tenders from major stainless-steel round bar manufacturers since chrome ore prices have fallen. As a ripple effect, the SS 304 Round Bar (50 mm) prices for Ex Dainan (China) settled at USD 2331/MT.

Europe

The Stainless-Steel Round Bar market in the European market remained subdued, with essentially flat prices during the third quarter of 2022. Market participants noticed how the escalating energy crisis would affect the fourth quarter. Transaction prices, which had recently followed a similar trend to base prices, were assessed lower this quarter due to weak demand and oversupply. Distributors noticed more orders, but prices remained low. Suppliers mentioned a price bottom and some increases in September due to higher energy costs. In August and mid-September, energy prices rose by USD 100/MT daily, but distributors were waiting for orders. However, manufacturers reported at the end of September that European stainless steel bar demand returned to the market after a long period of stagnation during which prices fell and buyers purchased in small quantities. Therefore, SS 304 Round Bar (25 mm) prices for Ex Ruhr (Germany) settled at USD 4080/MT.

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