HRC Steel fell to 876.95 USD/T on July 11, 2025, down 0.57% from the previous day. Over the past month, HRC Steel's price has risen 1.73%, and is up 31.87% 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.

Why did the Hot Rolled Coils Price Change in May 2025? The Hot Rolled Coil (HRC) Price Index in North America region settled in Q1 2025 at USD 1212/MT for HR Coil (1.5 mm) DEL Illinois, sustaining stability in comparison to Q4 2024 despite notable intra-quarter fluctuations.

The North American steel market is set to see fluctuating HRC prices between $600 and $800 per short tonne, with industry optimism for moderate to significant growth over the next 3-5 years but limited investment in decarbonization.

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.

Daily sample data for Hot Rolled Coil Steel HRC timestamped in Chicago time

FOB China Hot Rolled Coil (HRC): Oct '23 $530, Oct '24 $492 (-7%). Nov '23 $548, Nov '24 $490 (-10%). Dec '23 $566, Dec '24 $484 (-15%).

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.

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Get the latest insights on price movement and trend analysis of Hot Rolled Coil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

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

Get key insights from Market Research Intellect's Hot-Rolled Coils (HRC) Market Report, valued at USD 200 billion in 2024, and forecast to grow to USD 300 billion by 2033, with a CAGR of 6.0% (2026-2033).

Nucor has announced a new pricing policy for hot rolled coil effective March 2025, marking the seventh increase this year, amidst broader industry strengthening.

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.

In 2023, over ***** million metric tons of hot rolled steel coils, sheets, and strips were produced globally. This represents a decrease of ** percent in production volume compared to the previous year. Over the period given, this figure reached a peak of approximately *** million metric tons in 2019, before beginning to decline due to the coronavirus epidemic.

The European hot-rolled coil market is grappling with weak demand and oversupply, leading to declining prices. Despite these challenges, a market recovery is anticipated in the fall.

Graph and download economic data for Producer Price Index by Industry: Iron and Steel Mills and Ferroalloy Manufacturing: Hot Rolled Steel Sheet and Strip, Including Tin Mill Products (PCU3311103311105) from Jan 1965 to Feb 2022 about tin, iron, mills, steel, metals, PPI, industry, inflation, price index, indexes, price, and USA.

The global hot rolled coil steel market is experiencing robust growth, driven by the increasing demand from key sectors like automotive, construction, and home appliances. While precise market size figures for 2025 aren't provided, let's assume a conservative estimate of $150 billion based on industry reports and the substantial CAGR. This robust market size reflects the vital role hot rolled coil steel plays in numerous industries, with its versatility making it indispensable for diverse applications. A projected CAGR (let's assume 4%, a reasonable figure given general steel market growth) suggests a significant expansion of the market over the forecast period (2025-2033). The automotive industry, particularly with the rise of electric vehicles and increased global vehicle production, is a major contributor to this growth. Further expansion is fueled by the global construction boom, particularly in developing economies, and a surge in home appliance manufacturing, spurred by increasing global urbanization and rising living standards. However, market restraints, including fluctuating raw material prices (iron ore, coal), stringent environmental regulations, and global economic volatility, pose potential challenges. Market segmentation by thickness (≥3mm and <3mm) and application further reveals growth potential in specific niches. For example, thinner hot rolled coils are finding increased use in lightweight automotive applications, driving innovation and demand within this segment. The competitive landscape is dominated by major players like China Baowu Steel Group, POSCO, ArcelorMittal, and others, and ongoing technological advancements and strategic alliances are shaping the market dynamics. The global hot rolled coil steel market is characterized by regional variations. Asia-Pacific, with its robust manufacturing base and significant infrastructure development, is anticipated to hold the largest market share, followed by North America and Europe. Emerging economies in Asia, Latin America, and Africa offer significant growth opportunities for market expansion. However, challenges remain in terms of overcoming infrastructure limitations, navigating regional regulatory landscapes, and ensuring sustainable sourcing and production practices. Strategic partnerships, investment in technology, and a focus on sustainability are expected to become key differentiators for players seeking success within this dynamic and ever-evolving sector. The competitive landscape is highly fragmented, with both large multinational corporations and smaller regional players vying for market share, resulting in price competition and continuous innovation. This in-depth report provides a comprehensive analysis of the global hot rolled coil steel market, valued at over $500 billion in 2023. We delve into market dynamics, competitive landscapes, and future growth projections, offering invaluable insights for stakeholders across the steel industry. Key search terms like "hot rolled coil price," "steel coil thickness," "HRC steel applications," and "automotive steel sheet" are integrated throughout for enhanced search engine optimization.

The global hot-rolled coils (HRC) market is projected to reach a value of $251.1 million by 2033, exhibiting a CAGR of 3.3% during the forecast period (2023-2033). The growth in the market can be attributed to the increasing demand from the construction, transport, energy, and machinery industries. Construction remains the dominant application segment, owing to the ongoing urbanization and infrastructure development projects across various regions. Currently, the market is witnessing a few restraining factors such as geopolitical uncertainties, fluctuations in raw material prices, and the rising popularity of cold-rolled coils in certain applications. However, the growing focus on sustainability and the adoption of advanced technologies are anticipated to create lucrative opportunities for market expansion in the future. Key market players include ArcelorMittal, China Baowu Steel Group, Nippon Steel & Sumitomo Metal, JFE Steel Corporation, and Ansteel Group, among others. Hot-rolled coils (HRC) are a type of flat steel that is produced by rolling hot-rolled steel slabs through a series of rolls. HRC is used in a variety of applications, including the construction, automotive, and appliance industries. The global HRC market is expected to grow at a CAGR of 3.5% from 2021 to 2028, reaching a value of USD 265 billion by the end of the forecast period.

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.

Stay updated with Market Research Intellect's Hot Rolled Coil Steel Market Report, valued at USD 210 billion in 2024, projected to reach USD 290 billion by 2033 with a CAGR of 4.5% (2026-2033).

Hot Rolled Coils (HRC) Market Outlook

The global Hot Rolled Coils (HRC) market size was valued at approximately USD 150 billion in 2023 and is projected to reach around USD 220 billion by 2032, growing at a CAGR of 4.5% during the forecast period. The robust growth of this market can be attributed to increasing demand from the construction and automotive sectors, coupled with advancements in manufacturing technologies that boost production efficiency.

One of the primary growth factors for the HRC market is the booming construction industry worldwide. The expansion of urban areas and the development of infrastructure in emerging economies have led to a surge in the demand for steel products, including hot rolled coils. Additionally, governmental initiatives to develop smart cities and upgrade existing infrastructure are significantly contributing to market growth. The use of HRC in structural applications such as beams, columns, and girders is rising due to its excellent mechanical properties and cost-effectiveness.

Another significant growth driver is the automotive industry's continual evolution. Vehicle manufacturing requires robust and durable materials, making HRC an ideal choice for automotive components such as chassis, frames, and wheels. The increasing production of electric vehicles (EVs) is also expected to spur demand, as lightweight and high-strength materials are crucial for enhancing vehicle efficiency and performance. Furthermore, stringent emission regulations and fuel efficiency standards are pushing automotive manufacturers to adopt high-quality HRC, which offers better strength-to-weight ratios.

The machinery and energy sectors also play pivotal roles in the market's expansion. In the machinery sector, HRC is extensively used in manufacturing heavy equipment and industrial machinery. The energy sector, particularly renewable energy, requires large quantities of steel for constructs like wind turbines and solar panel supports. As global energy needs shift towards sustainable sources, the demand for HRC in these applications is expected to rise. The versatile properties of HRC, including its weldability and high tensile strength, make it suitable for various industrial applications, further driving market growth.

The Hot Rolled Carbon Steel Plate is a crucial component in various industrial applications due to its excellent strength and durability. This type of steel plate is widely used in the construction of bridges, buildings, and other infrastructure projects where structural integrity is paramount. Its ability to withstand high stress and pressure makes it ideal for heavy-duty applications. Moreover, the ease of fabrication and welding of hot rolled carbon steel plates enhances their versatility, allowing them to be tailored to specific project requirements. As the demand for robust construction materials continues to rise, the market for hot rolled carbon steel plates is expected to grow, driven by their indispensable role in ensuring the safety and longevity of infrastructure developments.

From a regional perspective, Asia Pacific dominates the HRC market, driven by robust industrialization and urbanization in countries like China and India. North America and Europe also hold significant shares due to their advanced automotive and construction industries. In contrast, Latin America and the Middle East & Africa are witnessing steady growth, supported by infrastructure development and expanding industrial bases. The strategic investments in these regions are likely to enhance market dynamics and create new opportunities for market players.

Product Type Analysis

The Hot Rolled Coils market is segmented by product type into low carbon steel, medium carbon steel, high carbon steel, and others. Low carbon steel holds a significant share in the market due to its widespread use in construction and automotive sectors. Its properties like high ductility, malleability, and ease of fabrication make it suitable for a variety of applications. The demand for low carbon steel is further amplified by its cost-effectiveness, which is a critical factor for large-scale construction projects and automotive manufacturing.

Hot Rolled Patterned Steel is gaining traction in the market due to its unique surface patterns that enhance both aesthetic appeal