For the Quarter Ending June 2023

North America:

In the second quarter of 2023, Aluminium Wire prices in North America experienced a decline driven by uncertain economic conditions and a rising inflation rate. In April, a decrease in Aluminium Wire prices occurred due to reduced demand from the downstream construction industry. Surplus availability of imported Aluminium Wire at lower prices from the overseas market led local mills to lower their offer prices. In May, a debt crisis stemming from the simultaneous downfall of major banks in the USA had a significant impact on the US market. This crisis prompted buyers to withhold placing large orders, anticipating further price declines. Tariffs were imposed to boost consumption of locally manufactured Aluminium Wire and reduce inventory levels in the US spot market. Despite the tariff imposition, high inventory levels persisted as consumption rates decreased in the USA, leading the US government to impose countervailing duties on imported Aluminium Wires from the European and Asian markets.

Asia-Pacific:

The Chinese Aluminium Wire industry faced a declining market trend in the second quarter of 2023. The arrival of the Chinese Dragon Boat Festival and Labor Day holidays affected consumer demand and purchasing rates in the local Chinese market. Price declines in April were attributed to decreased downstream demand alongside increased inventory levels. China, being the world's largest producer of Aluminium Wire, experienced high supply levels due to increased production rates in local Chinese mills. In the latter half of the second quarter, Alumina prices dropped due to surplus supply in China. The push for lower CO2 emissions increased the use of recycled Aluminium, reducing the demand and price of Primary Aluminium Wire produced in Chinese industries. Inventory levels grew as destocking slowed down, prompting buyers to place minimal orders at lower prices.

Get Real Time Prices of Aluminium Wire: https://www.chemanalyst.com/Pricing-data/aluminium-wire-1361

Europe:

The German Aluminium Wire market witnessed price declines in the second quarter as downstream demand decreased amid increased supply. Technological advancements and structural changes led to reduced production costs, contributing to lower Aluminium Wire prices. Uncertain economic conditions resulting from trading controversies and turbulence in the banking industry slowed sales and created a pessimistic market sentiment in Germany. US government-imposed tariffs aimed at reducing local inventory levels also impacted exports. In May, the German government raised interest rates to address rising inflation and stabilize the uncertain economic condition, resulting in a drop in Aluminium Wire prices. Buyers adopted a wait-and-see approach, expecting further price declines in the German spot market. In late June, increased imports from Chinese suppliers caused oversupply in local inventories, prompting mills to reduce offer prices for Aluminium Wire in the German spot market. The downstream automobile and construction sectors experienced reduced operational rates, leading to decreased Aluminium Wire consumption.




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