Hot Rolled Sheet Price Trend and Forecast

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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing

hot rolled sheet Price Trends by Country

usUnited States
gbUnited Kingdom
deGermany
cnChina
inIndia

hot rolled sheet Pricing Trends in India: 

Global hot rolled sheet Price Trend, Analysis and Forecast​

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.

Hot Rolled Sheet Price Trend Analysis: Q2 2025

According to PriceWatch, in Q2 2025, Hot Rolled Sheet prices in China declined by 2.63%. 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 HR sheet 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 HR sheet market experienced a rise in prices reflected 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, HR sheet prices increased a 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 HR sheet 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.

Hot Rolled Sheet Price Trend Analysis: Q1 2025

In Q1 2025, Hot Rolled Sheet 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 HR sheet prices declined by 1.2%. 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.

Hot Rolled Sheet Price Trend Analysis: Q4 2024

In Q4 2024, the global Hot Rolled Sheet market witnessed mixed trends in Q4 2024, with regional disparities shaping the overall dynamics. In China, HR sheet 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 HR sheet prices as weak downstream demand and increased imports exerted pressure on domestic producers.

Contrarily, the USA reported an upward trend in HR sheet 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 HR sheet 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 Sheet Price Trend Analysis: Q3 2024

In Q3 2024, the global market for Hot Rolled Sheet 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 HR sheet prices.

Similarly, India witnessed subdued demand from infrastructure projects and automotive sectors, compounded by weaker export opportunities, which pressured HR sheet 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 HR sheet.

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 HR sheet market, signaling a period of consolidation for producers and stakeholders.

Hot Rolled Sheet Price Trend Analysis: Q2 2024

In Q2 2024, the global Hot Rolled Sheet 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 HR sheet 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 HR sheet 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 HR sheet market.

Hot Rolled Sheet Price Trend Analysis: Q1 2024

In Q1 2024, the global Hot Rolled Sheet market exhibited mixed regional trends. China experienced a significant increase in HR sheet prices, driven by robust domestic demand, government infrastructure projects, and a rebound in manufacturing activities post-pandemic restrictions. In contrast, India’s HR sheet 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 HR sheet 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 HR sheet industry in early 2024.

India hot rolled sheet Price Trend, Analysis and Forecast

Hot Rolled Sheet Price Trend Analysis: Q1 2025

In Q1 2025, the Indian HR sheet market showed early signs of stabilization, with prices inching up to 0.3% 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 HR sheet 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 Sheet Price Trend Analysis: Q2 2025

According to PriceWatch, Indian HR sheet prices rose by 3.03% in Q2 2025. The Indian HR sheet 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 HR SHEET 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 Sheet Price Trend Analysis: Q1 2024

In Q1 2024, India’s HR sheet prices averaged, 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 HR sheet. 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 Sheet Price Trend Analysis: Q2 2024

HR sheet prices in India rebounded 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 were able to maintain firmer offers. Market sentiment turned cautiously optimistic, with participants hopeful that demand would continue to strengthen through the quarter. 

Hot Rolled Sheet Price Trend Analysis: Q3 2024

In Q3 2024, prices fell sharply to 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 Sheet Price Trend Analysis: Q4 2024

HR sheet prices continued their downward trend in Q4 2024, averaging 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. 

Global hot rolled sheet Supply Chain

Upstream
  • Iron ore, coke
Downstream
  • HR SHEET (Railway, construction, automotive, consumer goods)
Major supplying countries
  • China, India
Major importing countries
  • UK, USA 

India hot rolled sheet Supply Chain

Upstream
  • Iron ore, coke
Downstream
  • HR Sheet (Railway, construction, automotive, consumer goods)
Major supplying countries
  • China, India
Major importing countries
  • UK, USA 

Technical Specifications of Hot Rolled Sheet Price Trends

Molecular Weight[g/mol]

CAS No

HS Code

Molecular Formula

hot rolled sheet

Packaging Type

N/A

Hot Rolled Sheet Grades Covered

N/A

Incoterms Used

Synonym

PriceWatch Quotation Terms:

Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.

Hot Rolled Sheet Industrial Applications

Historically, several events have caused significant fluctuations in Hot Rolled Sheet prices

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

These events underscore the HR sheet 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 sheet 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 sheet 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 sheet prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely hot rolled sheet market data.

Track PriceWatch's hot rolled sheet 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 HR sheet production hubs. This ground-level intelligence is crucial for understanding localized market dynamics.
  • Supply Chain Monitoring: We track the entire HR sheet 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 HR sheet 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 HR sheet 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 HR sheet demand and corresponding price movements.

Production Capacity and Supply Analysis

  • Current Production Monitoring: We maintain a comprehensive database of global HR sheet 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 HR sheet 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 HR sheet 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 HR sheet 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.

Molecular Weight[g/mol]

CAS No

HS Code

Molecular Formula

hot rolled sheet

Packaging Type

N/A

Grades Covered

N/A

Incoterms Used

Synonym

PriceWatch Quotation Terms:

Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.

Applications

Hot Rolled Sheet 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 sheet. 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.

Commodity prices are influenced by a complex interplay of factors, including:

Production cost: Production costs directly influence commodity prices. When production expenses rise, such as through higher raw material or labor costs, commodity prices typically increase. Conversely, lower production cost leads to reduced prices of particular commodity.

Supply and Demand: The fundamental driver of commodity prices is the balance between supply and demand. When demand exceeds supply, prices tend to rise, and vice versa.

Economic Growth: Global economic growth, particularly in emerging markets, can increase demand for commodities, driving prices higher.

Geopolitical Events: Political instability, conflicts, and trade tensions can disrupt supply chains, affecting commodity prices.

Natural Disasters: Weather events such as droughts, floods, and hurricanes can impact the production and availability of certain commodities.

Speculation: Financial speculators can influence commodity prices through their trading activities.

Government Policies: Government policies, such as tariffs, subsidies, and regulations, can impact the production, consumption, and trade of commodities.

Many commodities are derived from feedstocks, which are raw materials used in their production. The price of feedstocks can significantly influence the price of the final commodity. For example, the price of crude oil affects the price of gasoline and other petroleum products. When feedstock prices rise, it typically leads to higher commodity prices as well.

Commodity prices can have a significant impact on inflation. When commodity prices rise, it can increase the cost of production for businesses, which may pass these costs on to consumers in the form of higher prices. This can lead to inflation, a sustained increase in the general price level of goods and services in an economy.

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