Electrical Steel Prices: Latest Price Trend and Data Q3 2024

North America Electrical Steel Prices Movement Q3:

Electrical Steel Prices in United States:

In the United States, electrical steel prices for Q2 2024 were recorded at 5895 USD/MT in September. In Q3 2024, electrical steel prices in the United States saw a steady rise, supported by a favorable market environment. Year-over-year growth highlighted the positive momentum, with prices increasing in the second half of the quarter compared to the first. While prices remained stable compared to the previous quarter, the upward trajectory reflected growing demand and a healthy industry outlook. This steady rise was indicative of a resilient market, where increased consumption and favorable economic conditions helped maintain price stability, fostering a sense of optimism as the quarter came to a close.

APAC Electrical Steel Prices Movement Q3:

Electrical Steel Prices in Japan:

The price of electrical steel in Japan for Q2 2024 was recorded at 1400 USD/MT in September. Tokyo Steel, Japan's leading Electric Arc Furnace (EAF) steel manufacturer, has reduced its scrap buying prices in response to shifting industry dynamics and the need to maintain competitiveness. This price cut is expected to lower manufacturing costs for businesses reliant on Tokyo Steel for scrap supplies. However, this move could also have a ripple effect on global ferrous product pricing. Despite the changes in international markets, the electrical steel industry in Japan has shown resilience, adapting to these shifts and maintaining stability amid evolving market conditions. The market's flexibility will be key in navigating future challenges.

Europe Electrical Steel Price Movement:

In Germany, electrical steel prices for Q2 2024 were recorded at 1810 USD/MT in September. During Q3 2024, electrical steel prices in Germany remained stable, reflecting a period of equilibrium despite underlying market challenges. While shifting industry dynamics and a decrease in demand posed challenges, the domestic market demonstrated resilience. Prices held steady throughout the quarter, signaling stability in the face of fluctuating economic conditions. This stability was particularly notable as the German market navigated external pressures, maintaining a consistent pricing environment. Despite the complexities, including reduced need and ongoing changes in supply chains, electrical steel prices remained firm, highlighting the sector's capacity to adapt and weather market uncertainties.

How IMARC Pricing Database Can Help

The latest IMARC Group study, “Electrical Steel Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data 2024 Edition,” presents a detailed analysis of Electrical Steel price trend, offering key insights into global Electrical Steel market dynamics. This report includes comprehensive price charts, which trace historical data and highlights major shifts in the market.

The analysis delves into the factors driving these trends, including raw material costs, production fluctuations, and geopolitical influences. Moreover, the report examines Electrical Steel demand, illustrating how consumer behaviour and industrial needs affect overall market dynamics. By exploring the intricate relationship between supply and demand, the prices report uncovers critical factors influencing current and future prices.

Request to Get the Sample Report: https://www.imarcgroup.com/electrical-steel-pricing-report/requestsample

Key Features:

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.

Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United State: +1-631-791-1145