Stainless Steel HR Coil Price Trend and Forecast

The Stainless Steel HR Coil Price in the North American market witnessed a plunging trend in the third quarter of 2022 amidst a conservative demand outlook. As per market players, US SS HR Coil prices have been under significant pressure due to weakening downstream demand, cautious service center purchasing, and persistently high supply. Fears of being saddled with overpriced steel inventories had kept many buyers on the sidelines as signs of a recession had emerged, including two consecutive quarters of negative growth and weakened manufacturing and housing indicators. Cleveland-Cliffs operated a blast furnace at its Cleveland, Ohio, mill entirely used by August to capitalize on rising automotive demand. As a ripple effect, the Stainless Steel-304 HR Coil (5 mm) prices for Ex Florida (USA) and CFR Alabama Port (USA) settled at USD 4009/MT and USD 3860/MT, respectively.

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