Electrical Steel Price in USA
- United States: 5711 USD/MT (M15-C5) Coil
In Q4 2023, the US electrical steel market experienced notable price fluctuations due to plant closures and shifts in supply and demand equilibrium. The period concluded with M15-C5 coil priced at $5711 per metric ton.
The latest report by IMARC Group, titled "Electrical steel Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of electrical steel price trend. This report delves into the price of electrical steel globally, presenting a detailed analysis, along with informative electrical steel price chart. Through comprehensive electrical steel price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the electrical steel demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Electrical Steel Prices December 2023:
- United States: 5711 USD/MT (M15-C5) Coil
- Germany: 2180 USD/MT (50 WW-800) Coil
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The study delves into the factors affecting electrical steel price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Electrical Steel Price Trend- Q4 2023
In the final quarter of 2023, the Electrical Steel market observed a resilient growth trajectory, particularly in North America, propelled by several pivotal factors. The market’s robustness is primarily attributed to a stable supply-demand equilibrium, facilitated by the absence of plant shutdowns across major regions, including North America, APAC (Asia-Pacific), and Europe. The United States, emerging as a significant market influencer, witnessed notable price fluctuations, reflecting the market's sensitivity to a range of economic and industrial factors. The price dynamics of Electrical Steel, especially M15-C5 Coil, underline a remarkable 11% year-on-year increase, showcasing the market's capacity for resilient growth amidst fluctuating conditions. A 7.2% price increase from the previous quarter further represents the market's adaptability to changing scenarios, driven by intricate factors such as supply chain dynamics, regulatory policies, and raw material cost variations.
Electrical Steel Market Analysis
The global electrical steel market size reached US$ 39.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 64.5 Billion, at a projected CAGR of 5.30% during 2023-2032. The December 2023 landscape for Electrical Steel prices was intricately shaped by a combination of supply chain dynamics, regulatory changes, and raw material cost variations. In North America, despite the absence of plant shutdowns ensuring a continuous supply, the market witnessed significant price adjustments, reflecting the complex interplay between supply-demand balances and external economic influences. The variability in prices, including a 3% disparity within the quarter itself, points to the nuanced factors at play, including shifts in demand, the impact of international trade policies, and the evolving landscape of the energy sector, particularly the increasing demand for energy-efficient solutions.
In the APAC region, the market dynamics were equally complex, shaped by similar factors of supply chain dynamics and raw material costs, alongside specific regional influences such as regulatory shifts and strategic market adjustments. Japan's role as a key player in the APAC market brought distinctive pricing adjustments, reflecting the country's significant impact on regional market trends. The absence of plant shutdowns across the region played a crucial role in maintaining supply consistency, contributing to the market's overall stability and growth. The European market, meanwhile, witnessed a unique set of challenges and opportunities, with Germany at the forefront of substantial price fluctuations. The 6% decrease in Electrical Steel (50 WW 800) Coil prices over the last year in Europe, contrasted with North America's growth, represents the diverse factors influencing regional markets. These include economic policies,
environmental regulations, and the push toward renewable energy sources, which significantly affect raw material costs and production efficiencies.
Key Points Covered in the Electrical Steel Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Electrical Steel Prices
- Electrical Steel Price Trend
- Electrical Steel Demand & Supply
- Electrical Steel Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Electrical Steel Price Analysis
- Electrical Steel Industry Drivers, Restraints, and Opportunities
- Electrical Steel News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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