Stainless Steel Round BarPrices Trend and Forecast 

North America 

During the third quarter of 2022,the Stainless-SteelRound bar prices rose in the US market amidst a sluggish demandoutlook. 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 Barmarket 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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