United States
Towards the end of 2022, the Stainless-Steel CR Coil prices showcased a persistent downward trend in the North American market owing to the higher supplies amidst constraint downstream demand outlook. Buyers were focused on reducing inventories, keeping them out of the spot market, and allowing them to take advantage of shorter lead times from domestic mills. Mills had maintained their margins, but as spot prices fell, they were forced to give, despite scrap dealers and traders claiming that the shredded scrap premium to prime grades was not sustainable beyond November. The peak of the off-season occurred in December, and the industrial chain had contracted even more due to this year's terminal demand. As a result, the price of SS-304 CR plate (6 mm) for Ex Florida (USA) settled at USD 6645/MT.

Asia Pacific
During the closure of the fourth quarter, the Stainless-Steel CR Coil prices edged downward in the Chinese market as the downstream inquiries decreased amidst the COVID control and prevention measures. According to market participants, the unplanned arrival of stainless-steel CR Coil after the festival and rising problems with raw material supply contributed to the October price increase. Some merchants provided discounts near the end of Q4. The explosion at an Indonesian nickel pig iron facility, the weak dollar, and news that the Goro mine in New Caledonia was reducing output due to a tailings dam leak all contributed to the nickel price increase. Mills were scrambling for nickel supplies because nickel producers had very little product available. On the demand side, Stainless steel prices rebounded more in mid-December, influenced by futures prices. As a result, the Ex Shanghai Stainless Steel 304 CR Coil (3 mm) price settled at USD 2668/MT.

Europe
In the European market, Stainless Steel HR Coil prices exhibited a price trend stagnancy in the fourth quarter of 2022, as prices remained unchanged due to persistently weak downstream demand. Due to increased price volatility, European steel producers considered moving to shorter terms with fixed-price contract customers, particularly automakers, in October. Some mills have ceased offering and will return to the market in the first half of January. Steelmakers' efforts to raise Stainless Steel CR Coil prices and values for January delivery remained consistent month after month, as Europe's current economic downturn did not support higher prices. Domestic prices for SS Cold-rolled coil in Europe were unchanged at the end of Q4 due to a market slowdown ahead of the Christmas holidays. Thus, the discussions of Stainless Steel-304 CR Sheet (2 mm) prices for Ex Ruhr (Germany) settled at USD 3138/MT.

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