Hot Rolled Coil Prices in USA
- United States: 1045 USD/MT (HR Coil 3mm)
The price of hot rolled coil in the United States during Q4 2023 followed a mixed trajectory. Initially, prices declined due to reduced purchase orders, supply disruptions caused by low river levels, and the looming threat of strikes by automotive sector employees.
The latest report by IMARC, titled "Hot Rolled Coil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of hot rolled coil prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Hot Rolled Coil Prices December 2023:
- United States: 1045 USD/MT (HR Coil 3mm)
- Taiwan: 965 USD/MT (HR Coil SS400 - 1.2mm)
- Russia: 835 USD/MT (HR Coil 3mm)
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The study delves into the factors affecting hot rolled coil price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Hot Rolled Coil Price Trend- Q4 2023
The hot rolled coil (HRC) market is currently influenced by a complex interplay of global demand fluctuations, trade dynamics, and sector-specific trends. Predominantly, the automotive sector's decline, marked by uncertainties among manufacturers, has played a crucial role in reducing demand for HRC. Additionally, the impact of global trade disruptions, including increased steel imports and interrupted trade routes, has significantly shaped market conditions. Despite these challenges, certain sectors like infrastructure development have shown resilience, supported by initiatives in green steel and renewable energy projects. These projects help mitigate broader market volatility by providing stable demand. Furthermore, the dynamic nature of inventory management by stockists, reacting to price signals by adjusting their stock levels, also contributes to the overall market trends. This multifaceted set of drivers ensures that the HRC market remains a critical indicator of broader economic health, reflecting both industrial activity and consumer confidence.
Hot Rolled Coil Market Analysis
The global hot rolled coil market size reached 300 million tonnes in 2023. By 2032, IMARC Group expects the market to reach 458.3 million tonnes, at a projected CAGR of 4.80% during 2023-2032. In North America, the decline in HRC prices during the first quarter of 2024 can be attributed to the reduced demand from the automotive industry, which is traditionally a significant consumer of steel. The sector faced various uncertainties, leading to cautious procurement strategies. Additionally, the influx of steel imports contributed to a surplus, exerting downward pressure on prices. Trade route disruptions further complicated the market landscape, although infrastructure projects provided some price support by the quarter's end. The interaction between declining demand, increased imports, and strategic stock management by buyers collectively influenced the market.
European HRC prices were heavily impacted by persistent low demand and buyer apprehension throughout the quarter. The cautious "wait-and-see" approach adopted by consumers, driven by uncertainties surrounding future price movements, led to subdued market activity and hesitant buying behavior. This reluctance was particularly evident in Germany, where weak trading activity sparked discussions around potential production cuts. The overall European market remained bearish, with buyers and sellers navigating a landscape marked by hesitancy and strategic adjustments to supply and demand dynamics.
In the Asia-Pacific region, particularly in China, HRC prices were primarily affected by decreased demand from the construction and infrastructure sectors. Seasonal factors, such as the winter and holiday periods, further exacerbated the demand reduction. Disruptions in critical trade routes like the Panama Canal and the Red Sea also played a significant role, influencing freight charges and leading to increased lead times and surplus inventories. The overall negative pricing environment was a reflection of these combined factors, highlighting the region's struggle to maintain stable market conditions amid fluctuating demand and logistical challenges.
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Key Points Covered in the Hot Rolled Coil Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Hot Rolled Coil Prices
- Hot Rolled Coil Price Forecast
- Hot Rolled Coil Demand Supply
- Hot Rolled Coil Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Hot Rolled Coil Price Analysis
- Hot Rolled Coil Industry Drivers, Restraints, and Opportunities
- Hot Rolled Coil News and Recent Developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Colombia, Chile, Ecuador, and Peru
- Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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