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 being driven by a combination of factors including industrial expansion, infrastructural development, and the automotive industry's recovery post-pandemic. As economies around the globe rebound, there is a significant surge in construction and manufacturing activities, which in turn fuels the demand for HRCs, essential in the production of structures, machines, and vehicles. Moreover, the transition toward green energy and sustainable construction practices has led to increased investments in renewable energy projects and eco-friendly buildings, further propelling the demand for steel products including hot rolled coils. Additionally, the automotive sector, a major consumer of HRC, is experiencing a revival with an emphasis on electric vehicles (EVs), which require HRC for their frames and bodies. This resurgence is critical in driving the HRC market forward, supported by governmental policies and incentives aimed at boosting manufacturing and sustainable practices. Thus, the market dynamics of HRC are being shaped by the broader economic recovery, sectoral demands, and shifts toward sustainability and innovation within key industries.
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. The factors influencing hot rolled coil prices in the last quarter are multifaceted, involving supply chain dynamics, raw material costs, and geopolitical tensions. The pricing for North America in Q4 2023 witnessed a decline influenced by reduced purchase offers, constrained transportation due to low river levels, and the potential United Auto Workers strike. A cautionary approach by auto companies and concerns about rising inflation also slowed demand. Besides, concerns over disrupted trade in the Red Sea and the extension of EU tariffs by the Biden administration further influenced the market.
Moreover, the HRC pricing in the Asia Pacific region during Q4 2023 remained stable, with moderate demand and supply. In October, steel mills, including Chung Hung Steel Corporation (CHS) and China Steel Corporation (CSC), stabilized prices in response to increased raw material costs like iron ore and steel scrap. Besides, December witnessed a consistent pricing trajectory influenced by reduced demand during the winter and holiday seasons, challenges in trade routes due to disruptions in the Panama Canal and the Red Sea. The hot rolled coil pricing for the Europe region remained stable in the fourth quarter of 2023. In November, the market in Russia experienced fluctuating prices influenced by several factors. Initially, prices declined due to increased production and reduced demand from the automotive sector, leading to surplus supply. Additionally, geopolitical tensions and trade policies have played a pivotal role in shaping the hot rolled coil market landscape. Trade disputes and tariffs can alter the flow of steel products across borders, affecting global supply and demand balances.
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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 Trend
- 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, Columbia, Chile, Ecuador, and Peru
- Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Browse More Pricing Reports By IMARC Group:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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IMARC is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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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