On August 23, U.S. Cold Rolled Sheet prices fell due to global steel market instability and domestic issues. Additionally, European mills struggled with minimal orders and stagnant prices for Cold Rolled Sheet due to weak demand. Meanwhile in China, the Cold Rolled Sheet market experienced a decrease in prices due to excess inventory leading to decreased market activity.

U.S. Cold Rolled Sheet prices fell due to a supply and demand imbalance On August 23^rd. The global steel market downturn, coupled with domestic challenges, has put downward pressure on prices. This decline is also seen in other markets, such as India, where steel prices have dropped as well. The U.S. Cold Rolled Sheet market's supply side has been heavily affected by global factors, including an influx of cheaper imports from countries like China, Indonesia, Vietnam, and Japan. These international suppliers have been unloading excess inventory into the U.S. market, worsening the oversupply issue. At the same time, domestic steel production has not decreased enough to match the weaker demand, aggravating the surplus. On the demand side, the U.S. market has shown signs of softening, particularly in the automotive sector, a key consumer of Cold Rolled Sheet. In July, U.S. new vehicle sales declined by 2.8% year-over-year, with passenger car sales dropping by 11.3%, and even the more stable SUV and truck sales saw a slight decrease of 0.6%. This slowdown in the automotive industry has contributed to the overall weak demand for Cold Rolled Sheet.

On August 23^rd, the German market for Cold Rolled Sheet remained subdued, with prices staying low due to weak demand from key sectors such as automotive and construction. Import offers were limited during the week, although Asian suppliers offered competitive prices. European mills had thin order books, with September lead times still available, but weak demand continued to prevent any price increases for Cold Rolled Sheet. The lack of demand from key end-user sectors, especially the automotive and construction industries, led to quiet trading across Cold Rolled Sheet markets in Europe. The price disparity favoured imports, reinforcing their dominance in the market for Cold Rolled Sheet.

Spot prices for China Cold Rolled Sheet experienced a slight decline on August 23^rd. The supply side of the market faced several challenges, including a significant drop in raw material billet prices and weak market delivery plans. This led to an accumulation of inventory in factories, prompting further reductions in factory prices, signalling ongoing oversupply. Traders also struggled with their quotes, though not as sharply as factories, highlighting the overall weakness in the supply segment and reflecting broader economic issues. Additionally, the China Cold Rolled Sheet market saw a considerable downturn due to seasonal factors and reduced market activity. As the market entered an off-season phase, weakened demand became a major influence on market dynamics. The 11% decline in automobile sales volume in July compared to the previous month further underscores the low demand for Cold Rolled Sheet from the downstream industry.

According to ChemAnalyst, there are signs that Cold Rolled Sheet prices in the USA may increase due to rising demand across downstream sectors. Meanwhile, Germany is considering measures to strengthen its domestic Cold Rolled Sheet industry, which could potentially impact global price trends. Furthermore, the growing automotive sector in China is anticipated to drive up global demand for Cold Rolled Sheet.