For the Quarter Ending June 2023
North America
In the North American market, Grey Cast Iron prices remained stable in the third quarter of 2023. Despite concerns about the financial market, demand from downstream industries continued to drive the market. However, worries about the health of the US banking industry led to a decline in regional bank stocks and other major financial stocks. These concerns were further intensified when the third bank in the United States collapsed, leading to increased concerns about risky assets. On a positive note, US manufacturing output showed encouraging momentum at the beginning of the second quarter, and there was a marginal increase in new order inflows in May. However, customer hesitancy in placing orders due to higher prices and global economic uncertainty affected the downstream sectors, such as the automotive parts and component industry, which showed a declining trend in the ending Q2. The lower availability of feedstock, such as iron ore and other raw materials, in the US spot market, along with weak demand, resulted in a higher inventory of Grey Cast Iron. The uncertain economic stability in the US during the second quarter, amid the debt crisis, caused buyers to delay placing large orders.
Asia Pacific
In the Asian market, Grey Cast Iron prices remained stagnant in the third quarter of 2023 due to a stable supply-demand outlook despite disruptions in the financial market. The consistent demand from downstream casting industries contributed to a slight increase in prices. However, as real estate projects approached completion, the demand for Grey Cast Iron decreased, leading to losses for steel mills instead of profits. Factors such as abundant supply, lower-than-expected demand, and weakened cost support contributed to the sustained decline in Grey Cast Iron prices during the first half of Q2. Growing concerns about potential interest rate hikes in the United States also had an impact on steel prices compared to raw material prices. The inventory level of feedstock, specifically iron ore, was higher at the end of the second quarter due to increased extraction from Australian mines. Overseas mines from Australia offered iron ore at a cheaper price in the spot market, reducing the cost support for Chinese Grey Cast Iron manufacturing. The uncertain economic conditions led to a decline in demand for Grey Cast Iron from the downstream automobile industry.
Get Real Time Prices of Grey Cast Iron: https://www.chemanalyst.com/Pricing-data/grey-cast-iron-1347
Europe
In the European market, Grey Cast Iron prices remained stable in the second quarter of 2023, driven by steady demand from the automotive and construction sectors. Some Northwest European steelmakers re-entered the market with offers in early Q2, but buyers had already replaced domestic coil with imports by the time more mills returned with offers in June. Competitive import offers and the significant price difference between domestic and overseas coil prices put further downward pressure on European prices. Buyers in the automotive and appliance sectors faced delivery delays, impacting their operations. The German Grey Cast Iron market experienced a decline in prices in May due to a lack of downstream demand from the automobile and construction industries. Buyers delayed placing large orders as the monsoon season approached, increasing the risk of corrosion. The ongoing labor crisis and rising energy costs also affected the Grey Cast Iron manufacturing process, leading to a decline in prices. The Grey Cast Iron plate prices for Ex Konigsbronn (Germany) settled at USD 2350/MT.
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The new Ductile Cast Iron Market report offers a comprehensive study of the current scenario of the market including major market dynamics.
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the ductile cast iron market include Waupaca Foundry, American Axle & Manufacturing (AAM), Neenah Foundry, Metal Technologies, Inc., Cifunsa, Wescast Industries(Bohong), INTAT Precision, Chassix, Aarrowcast, Inc., Cadillac Casting, Inc., Rochester Metal Products, Goldens’Foundry, Weichai, Georg Fischer, Dotson, Nelcast, Willman Industries, Gartland Foundry.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Ductile Cast Iron Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/ductile-cast-iron-market/download-sampleMarket DynamicsThe increasing production of automobile components in developing economies, and the expansion of industrial activities, are the primary factors driving the market's growth.
In addition, ductile cast iron has several advantages over steel, including being manufactured at a considerably cheaper cost than steel, having an excellent strength-to-weight ratio, and superior castability and machinability.
Why Are Cast Iron Radiators Great For Energy Saving?Many customers have commented on the better heat output within their homes since cast iron radiators replaced the modern radiators.
Cast iron radiators are energy efficient radiators and a good energy saving radiator choice.
Cast iron is far denser and heavier than steel, so the cast iron holds the heat for a far longer length of time once your boiler has been switched off.
The cast iron radiator will gradually cool down whereas the steel radiator will lose its heat quicker, meaning a room space will cool in a much more quickly.Studies have also shown that the conductivity of cast iron is higher than that of steel, so the heat transfer from the cast iron radiator surface into the room is much better than steel.
Steel tends to emit a blast of heat in a short space of time whereas cast iron, although will take a little longer to reach temperature, will gently radiate an ambient heat over a much longer period of time.
This high carbon content allows heat to diffuse through the cast iron evenly, which means the surface conducts heat more efficiently, making the cast iron radiator a more energy saving radiator.The Cast Iron Radiator Gives out Far More Energy-Efficient Heat Than Modern Steel RadiatorsWhy Cast Iron is good for efficiencyMany period homes, churches and public buildings discarded their original cast iron radiators, disconnected them from the system and threw them onto the scrap heap as old and outdated, replacing them with modern steel radiators.
