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Hot Rolled Coil (hrc) Price Trend and Forecast

UNSPC code: 30102205
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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing

hot rolled coil (hrc) Price Trends by Country

inIndia
cnChina
usUnited States
gbUnited Kingdom
ruRussia
jpJapan
itItaly
esSpain
deGermany
trTurkey
brBrazil
thThailand
vnVietnam
myMalaysia
idIndonesia
aeUnited Arab Emirates
saSaudi Arabia

Global hot rolled coil (hrc) Spot Market Prices, Trend Analysis and Forecast

Price-Watch’s most active coverage of Hot Rolled Coil (HRC) price assessment:

  • S235JR 2-3mm FD Sheffield, United Kingdom
  • A1011-1.8mm Ex Alabama, USA
  • SS400 2.75mm FOB Shanghai, China
  • IS2062 2.5-8mm Ex-Mumbai, India
  • 08PS-3-5.2 mm FOB Black Sea, Russia
  • SS330-1.7mm FOB Osaka, Japan
  • S235JR 1.2-5mm EX Taranto, Italy
  • S235JR 1.2-5mm EX Aviles, Spain
  • S235JR 1.2-5mm EX Ruhr, Germany
  • S235JR 1.2-5mm FOB Mersin, Turkey
  • SS400 2.75mm CIF Santos (China), Brazil
  • SS330-1.7mm CIF Laem Chabang (Japan), Thailand
  • SS400 2.75mm CIF Hai Phong (China), Vietnam
  • SS400 2.75mm CIF Klang (China), Malaysia
  • SS400 2.75mm CIF Tanjung Priok (China), Indonesia
  • SS400 2.75mm CIF Jebel Ali (China), United Arab Emirates
  • SS400 2.75mm CIF Jeddah (China), Saudi Arabia
  • IS2062 2.5-8mm EX-NCR Delhi, India
  • IS2062 2.5-8mm EX-Chennai, India
  • IS2062 2.5-8mm EX-Kolkata, India

Hot Rolled Coil (HRC) Price Trend Q3 2025

During Q3 2025, Hot Rolled Coil (HRC) pricing across the main global markets has generally been flat, impacted by weakening demand from manufacturing, stable raw material costs, and increasing import competition. The single exception has been China, which recorded a slight quarterly increase driven by consumption related to infrastructure spending, all other markets suffered declines, including India, the USA, and the UK, all amid weak industrial activity and hesitant buying behavior.

Hot rolled coil (HRC) demand sentiment remained weak as buyers continued to postpone restocking, and mills focused on maintaining market share instead of improving pricing, which ultimately led to a relatively soft tone for the global HRC market through the quarter.

China

Hot rolled coil (HRC) Export prices FOB Shanghai, China, Grade- SS400 2.75mm.

According to Price-Watch, the Hot rolled coil (HRC) price trend in China rose by 0.56% in Q3 2025, reflecting a mild recovery supported by stronger demand from infrastructure projects and steady consumption in machinery manufacturing. Government-backed investment initiatives in public works offered some stimulus to the steel market, while targeted production cuts by leading mills prevented excessive oversupply.

However, the upside was capped by persistent weakness in exports as global buyers scaled back orders amid economic uncertainties, along with stable raw material prices that limited cost-driven increases. Hot rolled coil (HRC) prices in China fell by 1.1% in September 2025 as seasonal demand slowed, especially from construction and shipbuilding sectors, while mills kept output levels steady, creating localized oversupply and pressuring spot offers.

India

Hot rolled coil (HRC) Domestic prices EX-Mumbai, India, Grade- IS2062 2.5-8mm.

According to Price-Watch, in India, the price trend of Hot Rolled Coil experienced a significant decline of 3.50% during Q3 2025 due to waning demand from automotive, engineering and appliance sectors. The sharp price drop has been exacerbated by increased low-cost imports from Asia which further put pressure on domestic producers, forcing domestic mills to cut prices in order to protect their market share.

A healthy availability of feedstock and steady production rates provided a lack of supply side support while buyers remained very cautious when it came to purchasing which translated into a drop in order entry. Infrastructure demand remained firm however inadequate to offset the weakness seen in manufacturing as a whole.

A slight 0.5% fall has been registered in Hot Rolled Coil prices in India for the month of September 2025 as buyers delayed making purchases in anticipation of prices declining further. Producers have been forced to prioritize sales volume and have had to accept firm pricing but in a very weak pricing environment.

United States

Hot rolled coil (HRC) Domestic prices EX Alabama, USA, Grade- A1011-1.8mm.

The Hot rolled coil (HRC) price trend in the USA slipped by 0.86% in Q3 2025, influenced by a slowdown in manufacturing activity and softer demand from the construction sector. Service centers reported higher inventory levels, which limited new buying requirements and prompted price adjustments. Input cost relief from lower scrap and ore prices added to the downward trend, while competition from imported material restricted domestic producers’ ability to hold firm prices.

Hot rolled coil (HRC) prices in the USA declined by 0.3% in September 2025 as subdued order activity from distributors and OEMs persisted, with buyers opting for short-term deals to reduce inventory exposure amid a cautious economic outlook.

United Kingdom

Hot rolled coil (HRC) Domestic prices FD Sheffield, UK, Grade- S235JR 2-3mm.

According to Price-Watch, The Hot rolled coil (HRC) price trend in the UK fell by 1.80% in Q3 2025, driven by weaker demand from automotive and construction sectors along with soft purchasing activity from distributors. Competitive import offers from European mills targeting the UK market further pressured domestic prices, as local producers struggled with margin constraints due to high operating costs.

Export sales were limited by unfavorable currency movements and weak foreign market activity, adding to the domestic oversupply. Hot rolled coil (HRC) prices in the UK eased by 0.1% in September 2025 as demand remained steady but muted, with buyers controlling procurement volumes to avoid inventory buildup ahead of uncertain market conditions in Q4 2025.

Hot Rolled Coil (HRC) Price Trend Analysis: Q2 2025

According to PriceWatch, In Q2 2025, hot rolled coil (HRC) prices in China declined from $506 per metric tonne in Q1 to $492.7 per metric tonne in Q2, a 2.63% decrease. This drop was primarily driven by a combination of escalating trade tensions, increased domestic production, and weak export demand. The Asian steel market entered Q2 under the shadow of a deepening US-China trade dispute, with new tariffs and protectionist safeguards creating uncertainty for both buyers and sellers.

Chinese HRC output surged in Q1, leading to oversupply in the domestic market and intensifying competition among exporters. Export opportunities were further constrained by high US tariffs and reduced quotas in the EU, forcing Chinese mills to seek alternative, often lower-margin, export markets. As a result, prices came under pressure, with market participants expecting further declines unless significant production cuts are implemented to restore balance.

The US HRC market experienced a rise in prices, reflected in a 6.75% increase in Q2. This upward movement was fueled by tight domestic supply, robust restocking, and successful price hikes by major US mills. The US steel sector benefited from strong demand in infrastructure and manufacturing, while import competition remained limited due to ongoing trade barriers and tariffs.

Mills capitalized on these conditions by announcing multiple price increases, which buyers accepted amid concerns over future supply bottlenecks and rising raw material costs. The market’s bullish sentiment was reinforced by a stable economic outlook and government infrastructure initiatives, allowing prices to reach their highest levels for the year.

In the UK, HRC prices increased by 3.57% in Q2. The price uptick was supported by steady demand from automotive and manufacturing sectors, higher input costs, and cautious supply management by mills. While overall demand remained moderate, UK and European producers benefited from improved sentiment and limited supply availability, particularly as buyers faced challenges securing urgent HRC supplies due to force majeure conditions in the region.

The market also saw some upward pressure from new import taxes and regulatory changes, which encouraged buyers to secure material in advance of potential further price increases. Despite these factors, buyers remained cautious, wary of overcommitting amid ongoing economic uncertainty.

According to PriceWatch, Indian HRC prices rose from $595 per metric tonne to $613 per metric tonne, a 3.03% rise in Q2 2025. The Indian HRC market saw this moderate price increase due to strong domestic demand, especially from infrastructure and manufacturing, as well as government policy support. Early in the year, prices faced mild corrections due to increased imports and global trade volatility, but as Q2 progressed, domestic policy interventions and robust infrastructure spending provided a floor for prices.

Additionally, the rupee’s slight depreciation contributed to higher USD-denominated prices, making Indian HRC more attractive in export markets. Looking ahead, continued fluctuations are expected, but domestic consumption and policy support are likely to keep prices relatively stable.

In Q1 2025, Hot Rolled Coil (HRC) prices increased in the UK, USA, and India compared to Q4 2024, supported by tighter supply, improved demand, and trade policy measures. Market sentiment in these regions was cautiously optimistic, with buyers returning and mills pushing for higher offers amid expectations of further economic recovery. In contrast, China’s HRC prices declined from $512/MT in Q4 2024 to $506/MT FOB Shanghai, in Q1 2025, reflecting a 1.2% quarter-on-quarter drop.

This decrease was driven by weak domestic demand, ongoing challenges in the property sector, and heightened export competition due to yuan devaluation and global trade barriers. While infrastructure and automotive sectors in China showed some resilience, they were insufficient to offset the drag from real estate, keeping overall market conditions subdued and prices under pressure.

 

In Q1 2025, the Indian HRC market showed early signs of stabilization, with prices inching up to $613/MT Ex-Mumbai a marginal 0.3% increase from the previous quarter. This slight improvement was supported by renewed buying from infrastructure and manufacturing sectors as government spending picked up and downstream industries began restocking. Mills, having reduced inventories in the previous quarters, were able to hold prices firmer.

Export demand also showed slight improvement, with Indian HRC becoming more attractive to buyers in select markets. While the recovery was modest, market participants grew more optimistic, anticipating further improvement in demand and pricing in the coming quarters as economic activity picked up post-monsoon.

Hot Rolled Coil (HRC) Price Trend Analysis: Q4 2024

In Q4 2024, the global Hot Rolled Coil (HRC) market witnessed mixed trends in Q4 2024, with regional disparities shaping the overall dynamics. In China, HRC prices experienced a decline driven by sluggish domestic demand, an oversupply scenario, and reduced construction activity due to seasonal factors. Similarly, India saw a downward trend in HRC prices as weak downstream demand and increased imports exerted pressure on domestic producers.

Contrarily, the USA reported an upward trend in HRC prices, fueled by robust demand from the automotive and construction sectors, alongside rising input costs and supply chain constraints. Meanwhile, the United Kingdom recorded a decline in HRC prices, influenced by reduced manufacturing output and economic uncertainties dampening steel consumption. These regional fluctuations reflect the diverse economic and industrial conditions impacting the global steel market.

Hot Rolled Coil (HRC) prices continued their downward trend in Q4 2024, averaging $611/MT, a further 1.3% decline from the previous quarter. The market was weighed down by persistent oversupply, as mills maintained high production rates despite weak demand. Year-end inventory clearance sales and aggressive pricing strategies were common as producers aimed to reduce stock levels before closing their books.

Export opportunities remained limited due to global oversupply and competitive offers from other Asian producers. The overall sentiment was cautious, with most buyers only purchasing on a need-basis and avoiding large-volume commitments.

 

In Q3 2024, the global market for Hot Rolled Coil (HRC) experienced a notable downturn in China, decreased construction activity and muted manufacturing output, coupled with high inventory levels, led to a significant reduction in domestic HRC prices. Similarly, India witnessed subdued demand from infrastructure projects and automotive sectors, compounded by weaker export opportunities, which pressured HRC prices downward.

In the United States, the slowdown in industrial activities, paired with elevated interest rates and reduced downstream demand, resulted in a bearish market sentiment for HRC. Meanwhile, the United Kingdom grappled with inflationary pressures and sluggish economic recovery, further dampening demand for steel products.

This combined global trend underscores the impact of macroeconomic challenges and sectoral slowdowns on the HRC market, signalling a period of consolidation for producers and stakeholders.

In Q3 2024, prices fell sharply to $619/MT, a significant 7% quarter-on-quarter drop. The onset of the monsoon season led to widespread construction delays, sharply curtailing demand from one of the steel industry’s largest sectors. The automotive industry also reported weaker sales, compounding the demand slump.

At the same time, Indian mills faced stiff competition from lower-priced imports, especially as neighboring Asian countries increased their exports. Mills aggressively cut prices to move inventory, but buyers remained hesitant, anticipating further declines. The overall mood was bearish, with many market participants adopting a wait-and-watch approach.

In Q2 2024, the global Hot Rolled Coil (HRC) market witnessed a mixed trend across key regions, reflecting varying economic and industrial conditions. In China, a decline in demand was driven by weakened manufacturing activity and subdued construction growth, leading to a downward price trend. Similarly, the United States experienced a reduction in HRC prices due to lower consumption from the automotive and construction sectors amid economic uncertainties.

The United Kingdom also faced a decreasing trend, with subdued demand and increasing import competition pressuring domestic mills. Conversely, India stood out with a notable increase in HRC demand, supported by robust infrastructure development, strong automotive production, and a government push for industrial expansion. This divergence in regional dynamics highlights the complex interplay of macroeconomic factors and sector-specific developments shaping the global HRC market.

Hot Rolled Coil (HRC) prices in India rebounded to $666/MT in Q2 2024, up nearly 2% quarter-on-quarter. This recovery was fueled by the resumption of infrastructure and construction projects as the weather improved, and a modest uptick in automotive production. Export opportunities also improved, particularly to Southeast Asia and the Middle East, as Indian mills leveraged competitive pricing.

Restocking activity by downstream industries contributed to the price rise, and mills maintained firmer offers. Market sentiment turned cautiously optimistic, with participants hopeful that demand would continue to strengthen through the quarter.

In Q1 2024, the global Hot Rolled Coil (HRC) market exhibited mixed regional trends. China experienced a significant increase in HRC prices, driven by robust domestic demand, government infrastructure projects, and a rebound in manufacturing activities post-pandemic restrictions. In contrast, India’s HRC prices declined due to subdued demand from key sectors like automotive and construction, coupled with elevated inventory levels and competitive export pressures.

Meanwhile, the United States witnessed a notable price uptick fueled by strong downstream demand in the construction and automotive sectors, supported by federal infrastructure spending. Similarly, the United Kingdom experienced an upward trend in HRC prices, attributed to steady demand recovery and a weakened pound, which made exports more competitive. These regional dynamics highlight the divergent market forces shaping the global HRC industry in early 2024.

In Q1 2024, India’s Hot Rolled Coil (HRC) prices averaged $653/MT, marking a notable 5.2% decline from the previous quarter. This drop was primarily driven by a seasonal slowdown in demand following the festive period, especially from the construction and automotive sectors, which are major consumers of HRC. Stockists and end-users were cautious, often delaying purchases in anticipation of further price corrections.

The market also faced pressure from increased import competition, as global prices softened and made foreign material more attractive. Mills responded by offering discounts and flexible payment terms to stimulate buying, but overall sentiment remained subdued, with many participants focusing on inventory management and cost control.

Technical Specifications of Hot Rolled Coil (hrc) Price Trends

Product Description

A hot rolled coil (HRC) is a type of steel product produced through a process where steel is heated above its recrystallization temperature and then rolled into thin sheets or coils. This process involves passing the heated steel through a series of rollers to reduce its thickness and shape it into long, flat products. The result is a versatile and widely used material in various industries, including construction, automotive, and manufacturing.

Identifiers and Classification:

  • HS Code – 720810


Hot rolled coil Synonyms:

  • Hot Band
  • Rolled Steel
  • Flat Carbon Steel
  • Steel Coil
  • Steel Strip
  • Black Steel


Hot rolled coil Grades Specific Price Assessment:

  • HRC IS2062 2.5-8mm Price Trend
  • HRC SS400 2.75mm Price Trend
  • HRC A1011-1.8mm Price Trend
  • HRC S235JR 2-3mm price Trend


Hot rolled coil Global Trade and Shipment Terms

  • Quotation Terms (Product & Country Specific): 15-18 MT
  • Packaging Type (Product & Country Specific): Container


Incoterms Referenced in Hot rolled coil Price Reporting

Shipping Term  Location  Definition 
FOB Shanghai  Shanghai, China  HRC Export price from China 
EX Alabama  Alabama, USA  Domestically Traded HRC price in USA 
FD Sheffield  Sheffield, UK  Domestically Traded HRC price in UK 
EX-Mumbai  Mumbai, India  Domestically Traded HRC price in India 

*Quotation Terms refers to the quantity range specified for the HRC being quoted or offered in a commercial transaction.

**Packaging Type refers to standard packaging size commonly used for HRC packing, ease of handling, transportation, and storage in industrial and commercial applications.

Key HRC Manufacturers

Manufacturers 
China Baowu Steel Group  
ArcelorMittal  
Nippon Steel Corporation  
POSCO  
JFE Steel Corporation  
Tata Steel  
JSW Steel  
Hyundai Steel  
China Baowu Steel Group  

Hot Rolled Coil (hrc) Industrial Applications

HRC market share end use

Historically, several events have caused significant fluctuations in Hot Rolled Coil (hrc) prices

  • Global Supply Chain Disruption (2022): The war in Ukraine and other geopolitical tensions disrupted supply chains, leading to price volatility in various commodities, including HRC.
  • COVID-19 Pandemic (2019-2020): The global pandemic led to a significant decline in demand for HRC-intensive industries, such as steelmaking and automotive manufacturing, causing prices to plummet.
  • Global Economic Downturn (2019-2020): The global economic slowdown, particularly in sectors like steel and automotive, led to reduced demand for HRC, resulting in lower prices.

These events underscore the HRC market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.

Why PriceWatch?

PriceWatch is your trusted resource for tracking global hot rolled coil (hrc) price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the hot rolled coil (hrc) market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.

In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence hot rolled coil (hrc) prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely hot rolled coil (hrc) market data.

Track PriceWatch's hot rolled coil (hrc) price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Data Collection and Sources​

  • Real-Time Market Data: PriceWatch aggregates real-time pricing data from a diverse range of sources, including global commodity exchanges, industry reports, and proprietary databases. This ensures that our assessments reflect the most current market conditions.
  • On-the-Ground Intelligence: Our team gathers insights directly from key market participants, including producers, suppliers, traders, and end-users, across major HRC production hubs. This ground-level intelligence is crucial for understanding localized market dynamics.
  • Supply Chain Monitoring: We track the entire HRC supply chain, from raw material availability to production and distribution channels. This includes monitoring feedstock prices, production capacities, and transportation logistics.

Event Tracking and Impact Analysis​

  • Geopolitical Tensions: PriceWatch continuously monitors global geopolitical developments, such as conflicts or trade disputes, which can significantly impact HRC prices. Our analysis includes potential disruptions to supply chains and their immediate and long-term effects on pricing.
  • Natural Disasters and Climate Events: We assess the impact of natural disasters, such as hurricanes or winter storms, on HRC production facilities, particularly in vulnerable regions like the APAC coasts. These events are factored into our price forecasts and supply outlooks.
  • Economic Shifts: PriceWatch evaluates macroeconomic trends, including global economic growth, inflation rates, and sector-specific demand (e.g., automotive, packaging, to predict shifts in HRC demand and corresponding price movements.

Production Capacity and Supply Analysis

  • Current Production Monitoring: We maintain a comprehensive database of global HRC production facilities, tracking their operational status, maintenance schedules, and output levels. This allows us to assess current supply availability accurately.
  • Future Capacity Projections: Our research includes detailed forecasts of upcoming HRC production capacities, factoring in new plant constructions, expansions, and technological advancements. This helps in predicting future supply trends and potential price stabilization.

Demand Forecasting

  • Sectoral Demand Analysis: PriceWatch provides an in-depth analysis of demand trends across key sectors, including packaging, automotive, and construction. We track year-on-year demand growth and project future consumption patterns based on economic indicators and industry developments.
  • Global Demand Dynamics: Our methodology considers regional demand variations and how they influence global HRC pricing. This includes understanding the impact of shifts in manufacturing bases, trade policies, and environmental regulations.

Pricing Model Development

  • Dynamic Pricing Models: PriceWatch utilizes advanced econometric models to forecast HRC prices, incorporating real-time data, historical trends, and projected market conditions. Our models are continuously refined to enhance accuracy and predictive power.
  • Scenario Analysis: We conduct scenario-based assessments to evaluate potential future market conditions. This includes best-case, worst-case, and most-likely scenarios, helping our clients prepare for a range of market outcomes.

Reporting and Client Support

  • Comprehensive Reports: Our clients receive detailed reports that include current price assessments, future price forecasts, and in-depth analysis of market drivers. These reports are designed to be actionable, providing clear insights and recommendations.
  • Ongoing Support: PriceWatch offers continuous updates and personalized support to our clients, ensuring they have the most up-to-date information to make informed decisions. Our experts are available to discuss specific market developments and provide tailored advice.

This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable HRC pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.

Hot Rolled Coil (hrc) Market Price Trend provided by PriceWatch is a base price and excludes VAT/Taxes, discounts, or offers. The information herein is accurate to the best of our knowledge as of the date indicated and is provided solely for the convenience of our customers as a reference for hot rolled coil (hrc). PriceWatch disclaims any warranties or representations regarding the accuracy of results derived from this information. It is the sole responsibility of the user to assess the suitability of the product for their specific application. This document does not constitute an endorsement to use the product in violation of any applicable patent rights.
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