Cold Rolled Coil Prices Trend in the second quarter of 2023 | ChemAnalyst
Chemanalyst05 Sep, 2023Business
During the second quarter of 2023, Cold Rolled Coil (CRC) prices in the United States initially saw an uptick in April before undergoing a subsequent overall decline. In the first month of the quarter, CRC prices in the US spot market rose as local mills maintained a high base price, fostering a positive market sentiment for both domestic and international buyers. Delivery times improved, reducing from 7-9 weeks to 7-8 weeks, leading to lower local inventory levels and increased CRC prices in the US spot market. However, as the second quarter progressed, the market sentiment for CRC took a downturn due to growing economic instability stemming from a debt crisis triggered by major banks' failures across the USA.
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