HRC Steel fell to 842.94 USD/T on July 31, 2025, down 0.95% from the previous day. Over the past month, HRC Steel's price has fallen 4.54%, but it is still 22.52% higher than a year ago, 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.

Intraday 1 minute sample data for Hot Rolled Coil Steel HRC timestamped in Chicago time

Explore the complex factors influencing Hot Rolled Coil (HRC) steel prices, including global economic conditions, industrial activity, geopolitical events, and raw material costs, and understand their impact on industries like construction and automotive.

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.

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

628 Global export shipment records of Hrc Steel with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

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.

The forecast for the global Hot Rolled Coil Steel market predicts substantial growth, with market size projected to soar to USD 330.05 Billion by 2033, a significant increase from the USD 214.03 Billion recorded in 2024. This expansion reflects an impressive compound annual growth rate (CAGR) of 4.93% anticipated between 2025 and 2033.

The Global Hot Rolled Coil Steel market size to cross USD 330

Nucor, a top US steel manufacturer, raised its HRC base price to $860/tonne from February 24, 2025. Highlights include price strategies reflecting market trends and rising material costs.

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.

Automotive Grade HRC Steel Market Outlook

The global automotive grade Hot Rolled Coil (HRC) steel market size was valued at approximately USD 12.5 billion in 2023 and is anticipated to reach around USD 20.3 billion by 2032, reflecting a compound annual growth rate (CAGR) of 5.6% during the forecast period. The market growth is driven by the increasing demand for lightweight yet durable materials in the automotive industry, as manufacturers strive to meet stringent emission standards and fuel efficiency requirements.

One of the significant growth factors for the automotive grade HRC steel market is the rising adoption of Advanced High-Strength Steel (AHSS) in vehicle manufacturing. These steels are known for their high strength-to-weight ratio, which enables manufacturers to produce lighter vehicles without compromising on safety and performance. This is particularly crucial as automotive companies aim to reduce the overall weight of vehicles to improve fuel efficiency and adhere to regulatory norms concerning emissions. Additionally, the versatility of HRC steel in forming various automotive components, from structural elements to body panels, enhances its appeal to automakers.

Another critical driver is the increasing production and sales of automobiles worldwide. With the surge in urbanization and the rise in disposable incomes, especially in developing nations, there is a growing demand for passenger and commercial vehicles. Consequently, this demand propels the need for high-quality, durable materials like HRC steel, which can withstand rigorous use and offer enhanced longevity. Moreover, the rapid advancements in automotive technologies, such as electric and autonomous vehicles, further fuel the need for advanced materials that can meet the unique requirements of these innovative vehicular architectures.

Technological advancements in steel manufacturing are also playing a pivotal role in driving the market. Innovations such as the development of new steel grades and improved manufacturing processes are leading to the production of superior quality HRC steel. These advancements not only enhance the mechanical properties of the steel but also make the manufacturing process more cost-effective and environmentally friendly. The ability to produce high-performance steel at a reduced cost is a significant factor that accelerates its adoption in the automotive sector.

From a regional perspective, the Asia Pacific region dominates the automotive grade HRC steel market due to its large automotive manufacturing base and the presence of key players in the steel industry. Countries like China, India, and Japan are significant contributors to the market growth in this region. North America and Europe are also substantial markets, driven by the strong presence of automotive giants and stringent regulatory standards that push for advanced materials in vehicle manufacturing. Meanwhile, regions such as Latin America and the Middle East & Africa are witnessing gradual growth, supported by increasing industrialization and economic development.

Type Analysis

The automotive grade HRC steel market by type encompasses several key segments: High Strength Low Alloy (HSLA), Dual Phase (DP), Transformation Induced Plasticity (TRIP), Complex Phase (CP), and others. Each type of steel offers unique properties that cater to specific applications within the automotive industry. HSLA steels, for instance, are known for their strength and toughness, which make them ideal for structural components in vehicles. These steels are alloyed with small amounts of elements like niobium, vanadium, and titanium, which enhance their mechanical properties without significantly increasing their weight.

Dual Phase (DP) steels are particularly valued for their excellent combination of strength and ductility. These steels consist of a ferrite matrix with a dispersed phase of martensite. The unique microstructure of DP steels allows them to undergo significant deformation before failure, making them suitable for applications that require high formability and energy absorption, such as body panels and safety components in vehicles. The high strength of DP steels also contributes to reducing the overall weight of the vehicle, which is a critical factor in achieving better fuel efficiency.

Transformation Induced Plasticity (TRIP) steels are another important type within the automotive grade HRC steel market. TRIP steels exhibit an exceptional blend of strength, ductility, and toughness due to their multiphase microstructure, which includes ferrite, bainite, and retai

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Hot Rolled Steel Sheet and Strip, Including Tin Mill Products (WPU10170301) from Dec 2003 to Feb 2022 about tin, mills, steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

Uncover Market Research Intellect's latest Automotive Grade HRC Steel Market Report, valued at USD 12.5 billion in 2024, expected to rise to USD 18.9 billion by 2033 at a CAGR of 5.8% from 2026 to 2033.

1422 Global export shipment records of Hrc Steel with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

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.

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).

27 Global import shipment records of Hrc Steel with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Nucor Corporation reduces hot rolled coil prices for the first time this year, amidst stable prices and market influences like import tariffs and industry demand.

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).

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