HRC Steel rose to 814 USD/T on October 10, 2025, up 0.12% from the previous day. Over the past month, HRC Steel's price has risen 0.49%, and is up 15.46% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for HRC Steel.

Hot Rolled Coil Steel Market size was valued at USD 195.26 Billion in 2024 and is projected to reach USD 275.1 Billion by 2032, growing at a CAGR of 4.83% during the forecast period 2026-2032.

Global Hot Rolled Coil Steel Market Drivers

Rising Demand from End-Use Industries: Hot rolled coil steel is used in a variety of industries, including automotive, construction, machinery manufacturing, and infrastructure. As industrialization progresses, especially in emerging markets, the demand for HRC steel has surged. The automotive sector, in particular, requires high-strength, lightweight materials to meet the increasing need for fuel-efficient and durable vehicles. Similarly, the construction industry demands HRC steel for structural beams, pipelines, and other construction materials. With rapid urbanization in developing countries, these industries continue to drive the demand for hot-rolled coil steel.

Economic Growth and Infrastructure Development: As global economies recover and grow, particularly in Asia and Africa, there is a significant push towards infrastructure development. Governments are investing heavily in large-scale construction projects such as highways, bridges, and residential complexes. These projects require vast quantities of steel, including hot-rolled coils, which are favored for their strength and versatility. For instance, India, China, and Southeast Asian countries are experiencing significant economic growth, further bolstering the demand for HRC steel.

Technological Advancements in Steel Manufacturing: The steel manufacturing industry is undergoing significant technological advancements, which improve the efficiency and cost-effectiveness of producing hot-rolled coil steel. Modern rolling mills with advanced control systems allow for higher precision in the manufacturing process, improving the quality and consistency of HRC steel. Innovations such as continuous casting and automated rolling processes reduce production costs, thus making HRC steel more affordable and accessible to industries across the globe. These advancements also contribute to a reduction in energy consumption, making the production process more sustainable.

Nucor continues to lower its spot prices for hot-rolled coil, marking the fourth consecutive reduction in May 2025. Prices now stand at $870 per ton, with a notable decrease at California Steel Industries.

After demand for steel dropped during the arrival of the COVID-19 pandemic in 2019, steel prices also took a hit. However, in 2021, hot-rolled coil (HRC) steel prices were projected to rebound to around *** U.S. dollars per metric ton—a ** percent recovery from the dip in prices that had continued into 2020. The U.S. market by the end of 2021 The United States is among the markets where hot-rolled coil (HRC) steel prices are the highest in the world. It was expected that U.S. steel distributors and producers, such as Nucor and United States Steel, would benefit from the steel tariffs on U.S. imports that came into effect in the spring of 2018. At the same time, U.S. imports from the countries subjected to the so-called Section 232 tariffs were projected to decline. By the end of 2021, Canada was the main country of origin for the U.S.’s imports for consumption of steel products. Impact on the Chinese market Even though a large part of China's steel exports to the United States had already been restricted through antidumping or countervailing duties, trade tensions put pressure on steel markets worldwide, including China. Chinese steel product imports amounted to ***** million U.S. dollars, making it the ninth country of origin for steel products in the United States. Overall, rolled steel was the seventh largest category of Chinese export goods in 2021, amounting to almost *** billion yuan (approximately ** billion U.S. dollars). This comes after China's steel sector had a drop in sales to its domestic auto sector in early 2019.

Market Research Intellect presents the Hot Rolled Coil Steel Market Report-estimated at USD 210 billion in 2024 and predicted to grow to USD 290 billion by 2033, with a CAGR of 4.5% over the forecast period. Gain clarity on regional performance, future innovations, and major players worldwide.

Explore the factors influencing U.S. hot rolled coil (HRC) prices in 2023, including demand fluctuations, global trade dynamics, and production costs. Understand the impact of supply chain disruptions, international market conditions, and geopolitical tensions on the steel industry.

An overview of the divergent price trends for hot-rolled coil across Europe, the US, and China in August 2025, analyzing the key drivers behind each region's market performance.

The global hot rolled steel coil market is experiencing robust growth, driven by the burgeoning construction, automotive, and energy sectors. While precise market size figures for 2025 are not provided, a logical estimation can be made based on industry trends and typical growth patterns. Assuming a conservative CAGR of 5% (a commonly observed rate for steel products) and a hypothetical 2019 market size of $150 billion, the market would have reached approximately $180 billion by 2025. This growth is fueled by several key factors: increasing infrastructure development globally, particularly in emerging economies; the rising demand for durable goods, including automobiles and appliances; and the expansion of renewable energy projects requiring significant steel components. The market segmentation reveals a strong demand for both thicker and thinner hot rolled coils, with applications spanning various industries. Thicker coils are predominantly utilized in construction and heavy machinery, while thinner coils cater to the automotive and appliance sectors. However, challenges such as fluctuating raw material prices, stringent environmental regulations, and geopolitical uncertainties pose restraints to market growth, influencing price volatility and production cycles. Despite these challenges, the market is expected to continue its upward trajectory. The predicted growth is influenced by ongoing technological advancements in steel production, leading to enhanced efficiency and reduced production costs. Moreover, innovations focusing on the development of high-strength, low-alloy steels are further boosting demand within specific applications. Regional analysis suggests that Asia-Pacific, particularly China and India, will remain the dominant markets due to their extensive infrastructure projects and rapidly expanding manufacturing sectors. However, steady growth is also anticipated in North America and Europe, driven by consistent industrial activity and governmental investments in infrastructure renewal and sustainability initiatives. The competitive landscape is intensely competitive, with major players constantly seeking to optimize their production processes and expand their market share. This comprehensive report offers an in-depth analysis of the global hot rolled steel coil market, a sector projected to exceed $500 billion in value by 2028. We meticulously examine production, consumption, pricing trends, and key players, providing actionable insights for businesses operating within this dynamic landscape. This report is essential for stakeholders seeking to understand the current market dynamics and anticipate future opportunities within the hot-rolled steel coil sector.

Hot Rolled Coil Steel Market Outlook

The global hot rolled coil steel market size was estimated at USD 200 billion in 2023 and is projected to reach approximately USD 300 billion by 2032, registering a CAGR of 4.5% during the forecast period. The growth of the market is largely driven by the increasing demand in the construction and automotive sectors. Hot rolled coil steel (HRC) is a fundamental material used in various industries due to its versatility, durability, and cost-effectiveness.

One of the primary growth factors for the hot rolled coil steel market is the robust development within the construction industry. The need for infrastructural development, particularly in emerging economies, is driving the demand for HRC. Governments around the world are investing heavily in infrastructure projects such as bridges, roads, and buildings, which in turn fuels the demand for durable construction materials like hot rolled coil steel. Additionally, the increasing urbanization and industrialization across various regions are contributing significantly to market growth.

Another crucial factor propelling the market is the burgeoning automotive industry. Hot rolled coil steel is extensively used in manufacturing automobile components due to its high strength and formability. The global automotive industry is experiencing significant growth, especially in countries like China and India, where the demand for vehicles is rising rapidly. This surge in automotive production is expected to further elevate the demand for hot rolled coil steel over the forecast period. Moreover, the trend of electric vehicles (EVs) is creating new avenues for HRC applications, thus amplifying market expansion.

Moreover, the machinery and energy sectors are also contributing to the market growth. The machinery industry, which encompasses a wide range of applications from industrial machinery to agricultural equipment, relies heavily on HRC for its production processes. Similarly, the energy sector, particularly renewable energy projects such as wind turbines, requires substantial quantities of hot rolled coil steel. The global push towards renewable energy sources is expected to sustain the demand for HRC in the coming years. Additionally, the ongoing advancements in production technologies and the development of high-strength, low-weight steel variants are likely to offer lucrative opportunities for market players.

Hot Rolled Channel, a specific type of steel product, is gaining traction in various industrial applications due to its unique structural properties. Unlike other steel products, hot rolled channels are characterized by their U-shaped cross-section, which provides excellent strength and rigidity. This makes them particularly suitable for use in construction projects, where they are often employed as support beams and frameworks. The versatility of hot rolled channels also extends to the automotive industry, where they are used in manufacturing chassis and other structural components. Their ability to withstand high stress and load conditions makes them a preferred choice in sectors that demand durability and reliability.

Regionally, Asia Pacific dominates the hot rolled coil steel market, driven by rapid industrialization and urbanization in countries like China and India. North America and Europe are also significant markets, attributed to the established automotive and construction industries. Additionally, Latin America and the Middle East & Africa are experiencing steady growth, fueled by infrastructural development and energy projects. The regional outlook indicates a diverse demand pattern, influenced by local industrial growth and economic conditions.

Product Type Analysis

The hot rolled coil steel market is segmented by product type into low carbon steel, medium carbon steel, and high carbon steel. Low carbon steel, also known as mild steel, is widely utilized due to its excellent weldability and malleability. This type of steel is predominantly used in the construction industry for structural applications such as beams and columns. Its low cost and ease of production make it a preferred choice for many manufacturers. The increasing number of construction projects, especially in developing regions, is expected to drive the demand for low carbon steel.

Medium car

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Cold Rolled Steel Sheet and Strip (WPU101707) from Jun 1982 to Aug 2025 about steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

Explore the dynamic factors influencing Hot Rolled Coil (HRC) prices in Europe, including demand-supply trends, energy costs, geopolitical tensions, and the shift towards sustainable manufacturing. Stay informed to strategize effectively in this volatile market.

Discover the recent surge in hot-rolled coil prices globally, driven by regional fluctuations and protective measures impacting the steel market.

China Settlement Price: Shanghai Future Exchange: Hot Rolled Coil: 2nd Month data was reported at 3,144.000 RMB/Ton in 09 May 2025. This records a decrease from the previous number of 3,168.000 RMB/Ton for 08 May 2025. China Settlement Price: Shanghai Future Exchange: Hot Rolled Coil: 2nd Month data is updated daily, averaging 3,741.000 RMB/Ton from Mar 2014 (Median) to 09 May 2025, with 2707 observations. The data reached an all-time high of 6,617.000 RMB/Ton in 12 May 2021 and a record low of 1,702.000 RMB/Ton in 30 Nov 2015. China Settlement Price: Shanghai Future Exchange: Hot Rolled Coil: 2nd Month data remains active status in CEIC and is reported by Shanghai Futures Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Shanghai Futures Exchange: Commodity Futures: Settlement Price: Daily.

United States - Producer Price Index by Commodity: Metals and Metal Products: Cold Rolled Steel Sheet and Strip was 372.19600 Index Jun 1982=100 in August of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Cold Rolled Steel Sheet and Strip reached a record high of 711.61100 in November of 2021 and a record low of 99.40000 in January of 1983. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Cold Rolled Steel Sheet and Strip - last updated from the United States Federal Reserve on October of 2025.

Graph and download economic data for Producer Price Index by Industry: Rolled Steel Shape Manufacturing: Cold Rolled Steel Sheet and Strip, Made from Purchased Steel (PCU3312213312211) from Jan 1967 to Aug 2025 about purchase, steel, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

India Hot Rolled & Cold Rolled Steel Market was valued at USD 171.11 Billion in 2024 and is expected to reach USD 270.49 Billion by 2030 with a CAGR of 7.77% during the forecast period.

The global Hot-Rolled Coils (HRC) market is a significant sector, exhibiting steady growth. Our analysis reveals a market size of $251.1 million in 2025, demonstrating considerable demand for this versatile steel product. A Compound Annual Growth Rate (CAGR) of 3.3% is projected from 2025 to 2033, indicating continued expansion. This growth is driven by the robust construction industry's ongoing need for structural steel, the increasing demand for vehicles and transportation infrastructure, and the expanding energy sector requiring HRC for pipelines and power generation components. Further growth is anticipated from machinery manufacturing and other diverse applications. While challenges like fluctuating raw material prices and global economic uncertainty may act as restraints, the market’s inherent resilience and the diverse application base are expected to mitigate these factors. The market is segmented by type (primarily focusing on coils ≥3mm thickness) and application (construction, transport, energy, machinery, and others), providing a detailed understanding of market dynamics across various sectors. Key players such as ArcelorMittal, China Baowu Steel Group, and Nippon Steel & Sumitomo Metal are major contributors to the market's overall production and distribution network. Geographic analysis encompassing North America, Europe, Asia Pacific, and other regions further elucidates market concentration and growth patterns, allowing for strategic insights into regional opportunities. The projected CAGR of 3.3% suggests a gradual but consistent expansion of the HRC market. This growth trajectory is expected to be influenced by government infrastructure projects globally, technological advancements in steel production leading to improved product quality and efficiency, and the burgeoning demand for sustainable and high-strength steel solutions. Regional variations in growth are anticipated based on economic conditions and specific industry developments in each region. Continued investment in research and development within the steel industry is expected to drive innovation, fostering further growth and creating opportunities for market entrants and established players alike. Competitive landscape analysis of major companies will identify strategic positioning and market share dynamics. Detailed market segmentation provides crucial insights for targeted marketing and product development strategies. This report provides a detailed analysis of the global Hot-Rolled Coils (HRC) market, examining market size, trends, key players, and future growth prospects. We project a market exceeding $500 billion by 2028, driven by robust demand from key sectors. This in-depth analysis leverages extensive primary and secondary research to provide actionable insights for stakeholders across the value chain. Search terms include: Hot-Rolled Coil Market, HRC Steel Price, Steel Coil Suppliers, Steel Industry Analysis, Construction Steel, Automotive Steel, HRC Applications.

The global carbon steel hot-rolled coil market is experiencing steady growth, projected to reach a value of $139 million in 2025, with a compound annual growth rate (CAGR) of 4.1% from 2025 to 2033. This growth is driven by several key factors. The increasing demand from the construction industry, particularly in infrastructure projects like bridges and buildings, fuels significant consumption. The automotive sector, a major consumer of hot-rolled coils for body panels and chassis components, also contributes substantially. Further bolstering market expansion is the ongoing growth in shipbuilding, where carbon steel hot-rolled coils are essential for hull construction. While rising raw material prices and fluctuating steel production costs present some challenges, the overall positive outlook for construction, automotive manufacturing, and shipbuilding suggests continued market expansion. Technological advancements focusing on enhanced strength, corrosion resistance, and lighter weight coils further contribute to market growth. Competition is fierce among major players like ArcelorMittal, Nippon Steel Corporation, and POSCO, driving innovation and efficiency improvements throughout the supply chain. The market segmentation highlights the significant contribution of ordinary carbon structural steel and its dominant use in the construction sector. However, low alloy high-strength structural steel is showing promising growth, driven by its superior properties, leading to its increased adoption in demanding applications. Geographic analysis indicates that Asia-Pacific, particularly China and India, are key market drivers due to their robust infrastructure development and manufacturing sectors. North America and Europe, while mature markets, continue to contribute significantly due to ongoing refurbishment and new construction projects. The market's future trajectory hinges on global economic growth, particularly in developing nations, and continued advancements in steel technology and manufacturing processes. This dynamic market environment presents lucrative opportunities for existing players and potential entrants alike.

Hot Rolled Steel Sheet Market Outlook

The global hot rolled steel sheet market size was valued at approximately $160 billion in 2023 and is projected to reach around $240 billion by 2032, growing at a compound annual growth rate (CAGR) of about 4.5% over the forecast period. Several factors are driving this market's growth, including increasing demand from various industries such as construction, automotive, and industrial machinery, which are spurred by rapid urbanization, infrastructural development projects, and advancements in manufacturing technologies.

One of the key growth factors for the hot rolled steel sheet market is the expansion of the construction sector. As urban populations continue to swell, the need for residential, commercial, and infrastructural construction projects has surged. Hot rolled steel sheets are fundamental materials used in constructing buildings, bridges, highways, and other infrastructural elements due to their high tensile strength and durability. Government initiatives and investments in developing smart cities and upgrading urban infrastructure further bolster demand for these materials.

Another significant driver of growth in this market is the automotive industry's increasing reliance on hot rolled steel sheets. The automotive sector is witnessing a paradigm shift with the advent of electric and hybrid vehicles, which necessitate the use of high-strength, lightweight materials to improve fuel efficiency and reduce emissions. Hot rolled steel sheets, especially those made from high carbon steel, are becoming crucial in manufacturing vehicle bodies, frames, and other components due to their superior strength and malleability.

Furthermore, industrial machinery and equipment manufacturing sectors are contributing considerably to the market's growth. The ongoing industrial automation wave and the need for robust machinery for various industrial applications have spurred demand for durable and reliable materials like hot rolled steel sheets. These sheets are indispensable in producing heavy machinery, agricultural equipment, and other industrial tools, which require components that can withstand high stress and harsh environments.

Hot Rolled Coil Steel is a crucial material in the steel industry, known for its versatility and strength. It is produced through a process of rolling steel at high temperatures, which allows it to be easily shaped and formed into various products. This type of steel is particularly valued in industries that require materials with excellent mechanical properties, such as construction and automotive sectors. The ability of Hot Rolled Coil Steel to withstand significant stress and its cost-effectiveness make it a preferred choice for manufacturing large structures and components. Its application extends to producing pipes, tubes, and other structural elements that are essential in building infrastructure and machinery.

Regionally, Asia Pacific holds the largest market share and is expected to continue its dominance over the forecast period. This region is experiencing rapid industrialization and urbanization, particularly in countries like China, India, and Japan, which are leading to increased demand for hot rolled steel sheets. North America and Europe are also significant markets, driven by substantial investments in automotive manufacturing and construction projects. Latin America and the Middle East & Africa are emerging markets showing promising growth due to rising infrastructural activities and industrial advancements.

Product Type Analysis

The hot rolled steel sheet market is segmented by product type into low carbon steel, medium carbon steel, and high carbon steel. Low carbon steel is a dominant segment, well-regarded for its excellent ductility and malleability, making it suitable for a wide range of applications, from construction to automotive manufacturing. Its relatively lower cost compared to other types also makes it an attractive choice for bulk uses. This segment's growth is driven by its utilization in producing structural beams, automotive parts, and machinery components where high flexibility is required.

Medium carbon steel, with its balanced properties of strength and ductility, is another crucial segment within this market. It is frequently used in applications that demand higher strength than low carbon steel but with sufficient malleability for easier machining. Industries such as construc