Hot Rolled Sheet Price Trend Q3 2025
In Q3 2025, the global Hot Rolled Sheet market showed a mixed trend, with significant regional variations. Price trend for Hot Rolled Sheet fluctuated by 1-2% during the July-September 2025 period, reflecting the uneven demand and supply dynamics across different regions. While some areas experienced slight price increases due to higher raw material costs and regional demand upticks, others saw minor price declines driven by overcapacity or weakened market sentiment. This mix of factors contributed to the overall volatility in prices during the quarter.
USA
Hot Rolled Sheet Domestically traded prices EX Alabama, USA, Grade- A1011-2mm.
In Q3 2025, the price trend of Hot Rolled Sheet (HRC) in the USA declined by 0.58% compared to the previous quarter, reflecting slightly softer demand from the construction, automotive, and industrial manufacturing sectors. Downstream buyers moderated procurement amid steady inventory levels and relatively stable raw material costs, including iron ore and coking coal. Although domestic mills maintained consistent production, competitive import offers and cautious purchasing behavior from manufacturers applied mild downward pressure on prices.
Producers focused on managing output and inventories to prevent oversupply, resulting in a slightly bearish market sentiment throughout the quarter, while overall market fundamentals remained relatively balanced. Hot rolled sheet prices in the USA declined by 0.34% in September 2025, primarily due to subdued demand from the construction, automotive, and appliance manufacturing sectors amid slower industrial activity.
Steady domestic production and comfortable inventory levels further limited price recovery, while export demand remained moderate amid global economic uncertainty. Overall, the hot rolled sheet market in the USA during Q3 2025 reflected a mild downward trend, with expectations of gradual stabilization in Q4 as downstream demand and infrastructure projects begin to strengthen.
UK
Hot Rolled Sheet Domestically traded prices FD Sheffield, UK, Grade- S235JR 2 mm.
In Q3 2025, the price trend of Hot Rolled (HR) Sheet in the UK showed a 1.92% decrease compared to Q2 2025, reflecting a softening market sentiment. The decline has mainly been driven by weaker demand from downstream sectors such as construction, automotive, and industrial machinery, along with elevated inventory levels among distributors and stockists.
Global steel prices experienced moderate corrections due to easing raw material costs, particularly iron ore and coking coal, which further influenced domestic pricing and contributed to the slightly bearish market conditions. Hot rolled sheet prices in the United Kingdom declined by 0.46% in September 2025, mainly due to subdued demand from the construction, automotive, and manufacturing sectors amid slower industrial activity.
Adequate domestic supply and moderate imports from European markets further contributed to the downward pressure on prices. Overall, the hot rolled sheet market in the UK during Q3 2025 exhibited a slightly bearish trend, with expectations of gradual stabilization in Q4 as downstream demand and infrastructure-related consumption improve.
Germany
Hot Rolled Sheet Domestically traded prices EX Ruhr, Germany, Grade- S235JR 2 mm.
In Q3 2025, the price trend of Hot Rolled (HR) Sheet in Germany showed a 2.27% decrease compared to Q2 2025, reflecting a softening market sentiment. The decline has primarily been driven by reduced demand from downstream sectors such as automotive, construction, and heavy engineering, coupled with higher inventory levels among distributors and stockists.
Global steel prices experienced moderate corrections due to easing raw material costs, particularly iron ore and coking coal, which further impacted domestic pricing and reinforced the slightly bearish market conditions throughout the quarter. Hot rolled sheet prices in Germany declined by 0.47% in September 2025, primarily due to softening demand from the automotive, construction, and machinery manufacturing sectors amid slower industrial activity.
Steady domestic production and comfortable inventory levels, along with competitive imports from neighbouring European countries, further pressured prices. Overall, the hot rolled sheet market in Germany during Q3 2025 reflected a mild downward trend, with expectations of gradual stabilization in Q4 as downstream demand and industrial activity pick up.
China
Hot Rolled Sheet Export prices FOB Shanghai, China, Grade- SS400 2mm.
During Q3 2025, hot rolled (HR) sheet price trend in China increased modestly by 0.12% when compared to Q2 2025, and the pricing trend exhibited a general tendency for stability. The market sentiment has moderately been optimistic as steady demand, reflecting downstream construction and manufacturing development, persisted.
On the other hand, raw material pricing such as iron ore and coking coal did not fluctuate out of a bounded range, contributing to the prevailing sentiment at the end of Q3. The steel mills have been operating controlled production schedules that supplied enough product while maintaining price stability.
HR sheet prices in China fell 0.8% in September 2025 primarily due to downstream demand weakness from the construction and manufacturing sectors as seasonal consumption began to decline. There has been little support from export markets as global demand has been subdued and uncertainty has been rampant. Overall, the HR sheet market in China demonstrated balanced fundamentals and the start of mild price growth but had moderate levels of resilience entering Q4 2025.
India
Hot Rolled Sheet Export prices EX-Mumbai, India, Grade- IS2062 2mm.
In Q3 2025, the price trend for hot rolled (HR) sheet in India experienced a 3% decline from Q2 2025, indicating a weakening market sentiment. A decline in demand from downstream sectors including construction, automotive and capital goods, coupled with high stockist inventory levels led to softening demand. Global steel prices also had a slight correction due to easing raw material prices, especially iron ore and coking coal, impacting local prices as well.
Hot rolled sheet prices in India decreased in September 2025 by 0.15% due to tepid demand from key consuming sectors like construction and automotive along with stable supply from local steelmakers. Increased imports from China and South Korea contributed to inbound pressure on local mills, creating competitive pricing. Despite steady production, the overall HR sheet market for Q3 2025 remained weak as there has been potential for a minor recovery in Q4 due to anticipated growth in infrastructure spending and demand during the festival season.

