Free Electrical Steel Prices Trend and Forecast New York
- Location: New York, New York, NY, United States
In the fourth quarter of 2022, Electrical Steel prices fell in the US market due to limited downstream demand from the steel and alloy segments and logistical concerns. Shippers loaded low weight on a barge in October because the Mississippi River's water level was low. Steel mill closures, limited production and maintenance, and slow replenishment all impacted demand. Furthermore, due to lower demand and less supply chain congestion, freight rates peaked during the quarter and began normalizing. Market participants reported little activity in the spot market as the holiday season approached. Premium level declines slowed in December, with reports of increased consumer inquiries - through the uncertain economic outlook for the first quarter remains a source of concern. A winter storm moving through Western New York also hampered logistics. The storm's aftermath and the disrupted supply chain resulted in limited downstream demand. In December, the price stabilized, but no one was rushing to buy from US mills rather than imports. Electrical Steel (M15-C5) Coil prices for Ex Tijuana and FOB San Diego settled at USD 5127/MT and USD 5193/MT, respectively.
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