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Hot Rolled Coil (HRC) Price Trend and Forecast

UNSPC code: 30102205
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⟳ Weekly Update
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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing
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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 Watchâ„¢ provides real-time price assessments and price forecasts for HRC across top trading regions:

Hot Rolled Coil (HRC) Regional Coverage Hot Rolled Coil (HRC) Grade and Country Coverage Hot Rolled Coil (HRC) Pricing Data Coverage Explanation
Asia-Pacific Hot Rolled Coil (HRC) Pricing Analysis HRC IS 2062 2.5–8 mm Ex-Mumbai, India Weekly Price Update on Hot Rolled Coil Real-Time Domestic Ex-Mumbai Prices in India
HRC SS400 2.75 mm FOB Prices at Shanghai Port, China Weekly Price Update on Hot Rolled Coil Real-Time Export Prices from Shanghai Port, China to Global Markets
North America Hot Rolled Coil (HRC) Pricing Analysis HRC A1011 1.8 mm Ex-Alabama, USA Weekly Price Update on Hot Rolled Coil Real-Time Domestic Ex-Alabama Prices in USA
Europe Hot Rolled Coil (HRC) Pricing Analysis HRC S235JR 2–3 mm FD Prices at Sheffield, UK Weekly Price Update on Hot Rolled Coil Real-Time FD Prices in Sheffield, UK

HRC Price Forecasts & Market Foresight Q3 2026

Outlook: Variable, by region

Confidence: High

Hot Rolled Coil (HRC) steel prices are expected to experience regional divergence and selective pressure globally during Q3 2026, influenced by fluctuating raw material input costs (iron ore and scrap), shifting trade protections, and mixed end-use demand.

Europe is projected to undergo a mid-quarter transition as aggressive mill-announced price hikes clash with sluggish summer call-offs and high distributor stock levels. In Asia, persistent overcapacity and monsoon-hit construction activity in India are likely to weigh on spot sentiment, though strong infrastructure baseline demand and regional tariff measures will help establish a price floor.

North America is anticipated to maintain a firmer pricing structure, supported by tight mill supply discipline, robust energy and infrastructure project requirements, and protective import tariffs.

Global HRC Market Overview by Region (July–September 2026)

Country Grade/ Incoterm Outlook
China  HRC SS400 2.75mm FOB Shanghai Mildly Bearish
India HRC IS2062 2.5-8mm Ex-Mumbai Mildly Bearish
USA  HRC A1011-1.8mm Ex-Alabama Mildly Bullish
UK HRC S235JR 2-3mm FD Sheffield Mildly Bullish

*HRC Forecast represents an analytical assessment based on information available at the time of publication. Actual market prices may vary due to unforeseen operational, regulatory, geopolitical, or economic developments.

Explore the Complete Price Watch™ HRC Forecast

Access comprehensive HRC market intelligence, including a 3-Month Rolling Forecast, 12-Month Price Forecast, forward price curves, country-wise market outlooks, procurement insights, and monthly forecast updates.

Explore Price Watch™ HRC Forecasts

What’s Included

The 3-Month Forecast (Updated Monthly)

It reflects changes in feedstock costs, energy prices, producer operating rates, plant outages, inventory levels, trade flows, freight rates, regional demand, and geopolitical developments affecting the global HRC market.

The 12-Month Forecast (Published Annually)

It provides a strategic outlook based on expected capacity additions, supply-demand balances, feedstock economics, macroeconomic conditions, industrial production trends, trade policies, seasonal demand patterns, and long-term supply chain developments, supporting procurement, budgeting, and strategic planning.

Our Proprietary Hybrid Forecasting Model Evaluates:

  • Feedstock & production economics
  • Plant operating rates & outages
  • Inventory and supply-demand balance
  • Regional trade flows & freight
  • Import-export dynamics
  • Macroeconomic & geopolitical developments

Track HRC Supply Disruptions in Real Time

As geopolitical risks continue to reshape global supply chains, stay ahead of the events that drive price movements by monitoring plant shutdowns, maintenance turnarounds, force majeure events, logistics bottlenecks, trade restrictions, and operational disruptions before they impact HRC markets.

Access the Price Watch™ GIO Tracker

Hot Rolled Coil Price Trend Q2 2026

The global HRC market in Q2 2026 showed a broadly firm trend, supported by steady downstream buying, restocking activity, and improved mill pricing discipline across major regions. The pace of movement varied by market, with stronger gains in India, the USA, and the UK, while China remained comparatively soft because of weaker demand recovery and ample supply.

In June 2026, the market became more mixed, with the USA extending a strong monthly rise, India staying mildly positive, the UK remaining flat, and China easing slightly. The HRC market Price chart highlighted these regional divergences clearly, while the HRC market price Index reflected the overall quarter-on-quarter firmness across key consuming economies.

HRC SS400 2.75mm FOB Shanghai, China

The HRC price trend in China increased by 1.5% in Q2 2026, as modest restocking and selective downstream demand supported prices despite persistent oversupply concerns. The market do not see a strong rebound, but it managed to hold slightly firmer levels through the quarter.

Producer pricing discipline and short-term buying interest provided some support to the benchmark. However, weak construction-linked consumption limited the upside and kept the gain relatively modest. The overall tone remained cautious, with prices moving higher only gradually.

In June 2026, HRC prices in China declined by 0.6% as demand softened and supply remained ample. Trading activity is restrained, with buyers showing limited urgency and keeping purchases conservative. Weak sentiment in construction and slower end-user uptake weighed on market confidence. As a result, the monthly trend turned slightly negative despite some underlying support from mills.

HRC IS2062 2.5-8mm Ex-Mumbai, India

The HRC price trend in India advanced by 10.3% in Q2 2026, supported by robust demand from infrastructure, manufacturing, and general industrial consumption. Mills benefited from strong domestic buying interest, while healthy restocking from downstream users helped sustain upward momentum through the quarter.

Pricing strength is further supported by disciplined supply and firm market sentiment across the flat steel segment. The combination of end-user demand and controlled availability allowed prices to rise sharply. India therefore remained one of the strongest-performing HRC markets in the quarter.

In June 2026, HRC prices in India rose by 0.1%, showing a nearly flat but positive monthly movement. Demand remained steady, but buying is measured, which limited the size of the increase. Mills are able to keep offers firm because the market continued to show stable consumption support. The month is therefore characterized by consolidation, with only a slight upward bias.

HRC A1011-1.8mm Ex-Alabama, USA

The HRC price trend in the USA increased by 9.5% in Q2 2026, supported by steady consumption from automotive, construction, and general manufacturing sectors. Domestic mills-maintained firm offers, while supply conditions stayed tight enough to preserve pricing power.

Buyers also showed sustained restocking interest, which added to the quarterly upward momentum. Import competition do not fully offset domestic strength, allowing prices to trend higher through the quarter. The USA remained among the stronger performers in the HRC market. In June 2026, HRC prices in the USA surged by 4.7% as tight supply and strong demand continued to support the market.

Buyers are forced to secure material at higher levels amid firm mill offers and healthy downstream requirements. Restocking activity remained active, and the market kept a distinctly positive tone throughout the month. This made the USA the strongest monthly gainer among the four countries.

HRC S235JR 2-3mm FD Sheffield, UK

The HRC price trend in the UK advanced by 11.9% in Q2 2026, driven by firmer mill offers, improved buyer restocking, and tighter availability across the domestic flat steel market. Mills held a stronger pricing stance through the quarter as supply discipline remained in place and buyers has limited room to delay purchases.

The upward move is also supported by healthier sentiment in downstream manufacturing and fabrication activity. Import competition do not weaken domestic pricing enough to offset the firm market tone. As a result, the UK recorded one of the sharpest quarterly gains among the four markets.

In June 2026, HRC prices in the UK are largely unchanged, with a 0.0% movement as the market paused after the earlier quarterly rise. Buyers stayed cautious, and there is no major fresh demand trigger to extend the rally further.

Mills maintained stable offers, but the balance between demand and supply kept prices flat through the month. The market therefore showed consolidation rather than directional movement in June.

 

Hot Rolled Coil (HRC) Price Trend Analysis: Q1 2026

Hot Rolled Coil (HRC) Price Trend Q1 2026

2026 Q1 Hot rolled coil (HRC) market remained generally stronger on the back of increasing global demand for steel from the construction, automotive, and infrastructure sectors; and tighter scrap and iron ore pricing with some regions than others (in terms of key inputs).

The USA experienced the largest gains due to domestic consumption and steel import restrictions, the same held for India and the United Kingdom with large increase to the extent of restocking and large project pipelines.

China remained behind the region with little upside due to constrained output combined with slow export numbers, resulting in an overall positive regionally divergent but positive quarterly results globally as to HRC market conditions.

Hot Rolled Coil (HRC) SS400 2.75mm FOB Shanghai, China

The hot rolled coil price trend in China edged up by 1.4% in Q1 2026, as modest infrastructure support measures and controlled mill restarts helped counterbalance ample inventories and cautious downstream demand from autos and appliances.

Export shipments faced persistent headwinds from rising global protectionism and weaker overseas inquiries, keeping the focus on domestic long-term contracts over volatile spot trading. Secondary markets saw some inventory digestion, but traders remained hesitant amid year-end financial pressures carrying over.

Auto and machinery sectors showed tentative improvement with policy nudges, though white goods demand stayed muted. Mills prioritized capacity utilization for key clients, limiting aggressive spot sales. In March 2026, Hot Rolled Coil prices in China increased 0.3% with balanced supply post-production adjustments.

Selective restocking from fabricators provided mild support amid cooling seasonal demand. Cautious trader activity and steady export barriers limited the gain, aligning with the quarter’s subdued trajectory.

Hot Rolled Coil (HRC) IS2062 2.5-8mm Ex-Mumbai, India

The hot rolled coil price trend in India advanced by 5.9% in Q1 2026, fuelled by vigorous infrastructure projects under government initiatives, real estate recovery, and healthy auto sector intakes tied to festive pre-sales.

Domestic mills gained leverage from reduced import pressure out of Southeast Asia and rising domestic scrap costs, enabling firmer pricing discipline across primary and secondary producers. Downstream processors ramped up coil purchases ahead of monsoon disruptions, tightening spot market dynamics and narrowing discounts.

Construction and pipe makers absorbed surplus into ongoing pipelines, while engineering demand provided steady backdrop support. Import duties held effective against cheaper arrivals, favoring local supply chains.

In March 2026, Hot Rolled Coil prices in India surged 4.6% as government-led tenders boosted volumes significantly. OEM and construction buying intensified, rapidly clearing processor stocks. Elevated input costs from global ore trends reinforced the robust monthly uptick with no signs of softening.

Hot Rolled Coil (HRC) A1011-1.8mm Ex-Alabama, USA

According Price Watch™, The hot rolled coil price trend in the USA surged by 12.7% in Q1 2026, driven by explosive demand from reshoring manufacturing initiatives, accelerating housing starts, and automotive production ramps post-supply chain normalization.

Section 232 tariffs and quota measures curbed uncoated imports effectively from vulnerable origins, allowing domestic mills to command premium realizations. Scrap premiums soared amid tight regional supplies, lifting base costs for both mini-mills and integrated producers alike.

Service centers restocked aggressively to meet surging pipeline needs from fabricators and OEMs, supporting elevated spot levels throughout. Construction and energy sector orders provided additional ballast against any volatility.

In March 2026, Hot Rolled Coil prices in the USA rose 3.4% as consumption momentum stayed strong nationwide. Reduced inventories at distributors spurred higher mill allocations to priority buyers. Tariff stability, firm end-markets in autos and infrastructure, and steady scrap inflows sustained the quarter’s powerful upward drive.

Hot Rolled Coil (HRC) S235JR 2-3mm FD Sheffield, UK

The hot rolled coil price trend in the UK rose by 7.2% in Q1 2026, bolstered by steady construction demand from renewed infrastructure tenders and automotive restocking amid improving economic sentiment. Upstream scrap costs firmed notably, supporting higher mill offers as processors passed on elevated input expenses.

Import competition eased due to ongoing logistics challenges in Europe and a stronger pound, which made overseas tonnage less competitive. Distributors built inventories selectively ahead of spring campaigns, helping absorb available volumes without significant discounts emerging in the spot market.

Downstream fabricators in machinery and general engineering showed improved order flows, adding to the bullish undertone. Mills maintained production discipline post-winter maintenance, which helped stabilize supply chains.

In March 2026, Hot Rolled Coil prices in the UK climbed 5.0% as spring infrastructure tenders accelerated across regions. Lean service center stocks prompted aggressive buying from end-users. Firm raw material values, steady auto sector intakes, and selective import arrivals drove the strong monthly close without reversal signals.

Hot Rolled Coil (HRC) Price Trend Analysis 2025

Hot Rolled Coil (HRC) Price Trend Q1 2025

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 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.

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 Q4 2025

During the fourth quarter of 2025, the hot rolled coil (HRC) marketplace demonstrated differences in behavior due to weakening demand from manufacturing sectors, stable costs for raw materials, and different levels of import pressure around the world. The Chinese market faced clean headwinds with very low capacity utilization at approximately 78.5%, high levels of inventory at the mills and traders, and limited exports because of global anti-dumping measures causing soft pricing throughout the quarter.

The western markets (USA and UK) saw a benefit from protectionism in relation to trade as well as the imposition of discipline on suppliers, while India had to deal with regional tap spillover (OVERSUPPLY) and unevenness of performance across the regions.

HRC SS400 2.75mm FOB Shanghai, China

According to Price-Watchâ„¢ , The price trend of Hot Rolled Coil in China declined by 2.6% in Q4 2025, primarily due to capacity utilization dipping to 78.5%, signaling persistent overcapacity and weak operational efficiency across major mills. Elevated inventories at producers and traders, coupled with tepid domestic demand from construction slowdowns post-policy stimulus fade, exerted downward pressure throughout October-December. Exports remained challenged by global anti-dumping duties and competition from cheaper alternatives, while steady iron ore and coking coal costs failed to provide cost-push support.

Production growth in prior months flooded downstream channels, capping any recovery attempts amid rangebound futures trading. Hot Rolled Coil prices in China fell by -0.1% in December 2025 as ongoing supply looseness persisted, with mills maintaining steady output levels despite seasonal year-end demand from infrastructure projects. Futures contracts stabilized around Yuan 3,300/mt, but high stock levels at major ports discouraged aggressive restocking by traders and end-users. Weak export momentum into Southeast Asia further softened spot offers, preventing any late-quarter rebound.

HRC IS2062 2.5-8mm Ex-Mumbai, India

The price trend of Hot Rolled Coil in India declined by -3.0% in Q4 2025, driven by aggressive import surges projected at 137,500 mt arrivals flooding the market and undermining domestic producers’ pricing power. Seasonal post-festive demand weakness in construction and autos compounded issues, with liquidity shortages leading to deferred purchases and high stock buildup at warehouses. China’s regional oversupply spillover depressed export indices by 5% QoQ to the Middle East, while raw material stability offered no relief amid cautious mill adjustments.

Buyers favored spot deals at lower levels around ₹47,000-49,500/mt, reflecting broader Asian softness and limited government interventions. Hot Rolled Coil prices in India fell by -0.7% in December 2025 amid persistent import pressure that continued to outpace domestic consumption needs. Post-holiday stabilization in key consuming sectors like real estate and manufacturing failed to materialize quickly, leading to extended buyer caution and deferred inquiries. Domestic mills struggled to offload excess stocks, exacerbating the downward trajectory in spot markets.

HRC A1011-1.8mm Ex-Alabama, USA

The price trend of Hot Rolled Coil in the USA rose by +3.7% in Q4 2025, fueled by escalated Section 232 tariffs under President Trump (25-50% on key origins), which slashed import volumes from Canada, Mexico, and Asia, tightening domestic availability. Reduced foreign competition empowered mills to lift offers, despite soft end-user demand from automotive slowdowns and construction hesitancy in a high-interest environment. Hand-to-mouth buying patterns minimized inventory risks, while scrap costs firmed modestly, supporting producer margins and reversing earlier quarterly downside forecasts.

Policy-driven protectionism overshadowed global weakness, stabilizing service centers and specialty fabricators. Hot Rolled Coil prices in the USA rose by +5.6% in December 2025 as tariff impacts peaked, with sharply reduced import bookings creating acute supply tightness for service centers. Domestic mills capitalized on the scarcity by firming up offers, while buyers shifted focus from offshore sourcing to local availability amid rising lead times. End-user sectors like appliances saw modest restocking, further bolstering the late-quarter rally.

HRC S235JR 2-3mm FD Sheffield, UK

The price trend of Hot Rolled Coil in the UK rose by 1.4% in Q4 2025, sustained by steady European supply discipline amid high import quotas but moderated by Trump’s tariffs diverting global flows away from oversupplied Asia. Recessionary pressures curbed demand from infrastructure and manufacturing. Weak construction activity and auto sector inventory drawdowns limited upside, but no major disruptions in energy or scrap inputs aided resilience versus continental peers. Overall, policy spillovers and regional stability prevented sharper declines seen elsewhere.

Hot Rolled Coil prices in the UK rose by 1.4% in December 2025 amid a shift to firmer seller dynamics, with continental mills shortening delivery times to attract orders. Buyers weighed risks from potential quota exhaustions and US policy spillovers, opting for measured restocking that supported modest price gains. Stable scrap and energy inputs provided mills with confidence to maintain elevated offers without major pushbacks.

Hot Rolled Coil (HRC) Price Trend Q1 2024

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.

Hot Rolled Coil (HRC) Price Trend Q2 2024

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.

Hot Rolled Coil (HRC) Price Trend Q3 2024

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.

Hot Rolled Coil (HRC) Price Trend 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.

 

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 Price Watchâ„¢?

Price Watchâ„¢ 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, Price Watchâ„¢ keeps you fully informed of market dynamics.

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

Track Price Watch'sâ„¢ 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.

Hot Rolled Coil (hrc) Market Price Trend published by Price Watchâ„¢ reflect prevailing spot market conditions, derived from independent research, verified trade inputs, and proprietary market intelligence as of the publication date. Prices are published on the specified Incoterm and represent indicative base market levels, exclusive of applicable taxes, VAT, duties, tariffs, and other statutory charges. Actual transaction values may vary depending on volume, credit terms, contractual structure, and other negotiated conditions. Market prices are inherently subject to volatility, liquidity dynamics, regulatory changes, and evolving trade activity. The information provided is for reference and benchmarking purposes only and does not constitute an offer, recommendation, or guarantee of transactional outcomes. Users should exercise independent commercial judgment and assess their specific contractual, regulatory, tax, and application requirements before making business decisions. Price Watchâ„¢ assumes no liability for decisions taken based on this information.

Hot Rolled Coil (HRC) is a versatile steel product formed by rolling slabs at high temperatures above the recrystallization point, available in various thicknesses and widths for structural use. Its price affects industries from construction to automotive manufacturing and infrastructure development. Price-Watchâ„¢ tracks these prices to help businesses and consumers understand and stay updated with the market trends.

HRC prices vary by region and market conditions. Prices are typically quoted per metric ton or per pound and fluctuate based on global supply, import/export flows, industrial demand, and currency exchange rates. Price-Watchâ„¢ provides real-time price assessments across different global markets to help buyers and sellers make informed decisions.

Prices fluctuate due to changes in Chinese production, environmental regulations, seasonal smelter maintenance, feedstock availability, and demand from pharmaceuticals, electronics, and alloys. Exchange rates, logistics costs, and global economic conditions also influence trends.

Major consumers include construction & infrastructure, automotive, machinery, energy, pipes & tubes, and general fabrication. Price-Watchâ„¢ analyses demand patterns across all these industries.

HRC is primarily produced from steel slabs derived from iron ore via blast furnaces or electric arc furnaces, followed by hot rolling processes. High-quality forms involve continuous casting, reheating, and rolling to precise gauges.

China is the world’s largest exporter, followed by Japan, South Korea, Russia, and Turkey. Export volumes vary with domestic policies, environmental regulations, and international demand. Price-Watch™ tracks production levels, export flows and trade patterns to help businesses understand global supply chains and identify sourcing opportunities.

Supply generally meets demand, but disruptions may occur due to smelter shutdowns, environmental restrictions, or spikes in industrial consumption. Price-Watchâ„¢ monitors these supply-demand imbalances to alert the market about potential shortages or surpluses.

HRC is graded by strength (e.g., SS400, ASTM A1011), thickness (0.083-0.501 inch), width (48-72 inch), and coatings; premium pickled/oiled or galvanized variants cost more due to added processing. Price-Watchâ„¢ provides separate price assessments for each grade to ensure market transparency.

When demand rises, for example: from pharmaceutical production or electronics manufacturing prices typically climb. Suppliers may prioritize certain customers, and lead times can extend. Price-Watchâ„¢ captures these market dynamics in real-time.

HRC production is highly energy intensive, particularly in reheating furnaces and rolling mills. Rising electricity, natural gas, or coal costs often get passed on to buyers. This is why prices in regions with cheaper electricity tend to be lower, a correlation that Price-Watchâ„¢ analyses in its price assessments & market reports.

Regional variations arise from import dependency, shipping costs, currency fluctuations, and local demand. Price-Watchâ„¢ tracks prices across all major regions to highlight these differences.

Forecasts depend on production capacity, Chinese export policies, industrial demand, and macroeconomic factors. Price-Watchâ„¢ regularly publishes detailed forecasts that project price movements for the next 12 months based on comprehensive analysis of supply additions, demand growth in key industries, seasonal patterns, and macroeconomic indicators. Our forecasts help businesses anticipate market conditions and plan accordingly.

Yes. Accurate forecasts allow businesses to optimize purchasing, negotiate contracts, and manage inventories. If Price-Watchâ„¢ forecasts predict a price increase in three months, you might choose to stock up now or lock in long-term contracts at current rates, potentially saving thousands of dollars.

Events such as Chinese export restrictions, smelter shutdowns, environmental regulations, or economic shocks can cause supply shortages and price volatility. Price-Watchâ„¢ provides timely alerts when such events affect the market.

Price-Watchâ„¢ collects data from manufacturers, distributors, and buyers worldwide to publish regular price assessments, market reports, and forecasts. Our transparent methodology and comprehensive coverage make us a trusted source for understanding fair pricing and market trends in the HRC industry.

Access Real-Time Hot Rolled Coil (HRC) Price Trends
Access Real-Time Hot Rolled Coil (HRC) Price Trends