Hot-rolled coil futures declined in midday trading while most other ferrous and base metals moved higher. The price easing came within a broadly firmer metals complex, with stainless steel and coking coal posting gains.
Iron ore prices fell to a year-to-date low this week as port arrivals surged and environmental production cuts in Tangshan reduced hot metal output, weighing on demand. Sentiment has partly recovered and steel mills are resuming blast furnaces, so a limited corrective rebound is expected next week despite continued port inventory accumulation.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Hot Rolled Coil | USA | FOB | USD 1,179.40/MT | May 2026 |
| Hot Rolled Coil | India | FOB | USD 618.11/MT | May 2026 |
| Hot Rolled Coil | China | EWX | USD 493.77/MT | May 2026 |
| Hot Rolled Coil | Germany | EXW | USD 829.93/MT | May 2026 |
| Hot Rolled Coil | Canada | EXW | USD 1,185.00/MT | May 2026 |
| Hot Rolled Coil | USA | FOB | USD 1,146.14/MT | April 2026 |
| Hot Rolled Coil | India | FOB | EXW 631.11/MT | April 2026 |
| Hot Rolled Coil | China | EWX | USD 485.02/MT | April 2026 |
| Hot Rolled Coil | Germany | EXW | USD 845.60/MT | April 2026 |
| Hot Rolled Coil | Canada | EXW | USD 1,156.00/MT | April 2026 |
Stay updated with the latest hot rolled coil prices, historical data, and tailored regional analysis
In India, Hot Rolled Coil prices were ~INR 59.89/kg and ~INR 58.72/kg, respectively, in the first two months of Q2'26, showing a ~2.0% decrease during the period. The decline came despite firm local demand, as higher imports capped domestic price strength. India’s May crude steel output reached 14.21 MMT, up 2.9% year-on-year, while finished steel consumption rose 9.0%, supported by construction, infrastructure, and manufacturing. In Germany, HRC prices declined from ~EUR 0.72/kg in April to ~EUR 0.71/kg in May, showing a ~1.3% decrease. Europe remained demand-constrained, with April industrial production up only 0.1% month-on-month and capital goods output falling, limiting buying from machinery and fabricated-metal users. Construction gave partial support, but building activity stayed weak. In the United States, HRC prices rose from ~USD 1,146.14/MT in April to ~USD 1,179.40/MT in the following month, witnessing a ~2.9% increase. U.S. mills gained support from stronger domestic sourcing sentiment after the June 1 metal tariff action, which tightened rules around metal-containing products and lowered the domestic-content threshold to 85% for products treated as American steel, aluminum, or copper. Demand from autos, construction supplies, primary metals, and business equipment helped offset higher steel output.
Analyst Insight
According to Procurement Resource, in the near term, HRC prices may show mixed movement, with support from policy measures and downstream demand balanced by ongoing supply availability and cautious industrial activity.
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China’s hot-rolled coil market reflected a fluctuating but stable trend during Q1’26. Prices averaged around 3,420 RMB/tonne in January and eased slightly to 3,410 RMB/tonne in March, reflecting an approximate 0.31% decline over the quarter. The market remained under pressure early in the quarter as production resumed post-maintenance, inventories built up through the holiday period, and downstream sectors such as machinery, automotive, and steel processing restarted more slowly than expected.
Conditions improved through March as firm iron ore and coking coal prices strengthened the cost floor, and mills resisted sharper discounts amid low profitability. Sentiment was also supported by expectations surrounding China’s “Two New” policy (large-scale equipment renewal and consumer goods trade-ins), which is expected to support steel-intensive demand across machinery, vehicles, and appliances. Late-quarter market sentiment was further influenced by the Iran conflict, which raised freight and insurance costs, added uncertainty to steel export flows toward the Gulf, and reinforced cost-side support across the steel value chain. Overall, the market remained stable but lacked strong upward momentum due to still-elevated inventories and only gradual demand recovery.
Hot rolled coil is basically a moulded form of steel. It basically includes a mill process which involves rolling of steel at a high temperature (generally at a temperature over 1700° F), which is above the steel's recrystallisation temperature. When steel is above its recrystallisation temperature, Hot rolled coil is formed, and thus, given this shape. It is often utilised in the manufacturing of staircases. Further, it can be embossed with different patterns such as the teardrop pattern to impart excellent anti-slip properties to the product.
Construction, Shipping, Energy, Packaging, Consumer Appliances Industry, Housing, Automotive
Tata Steel Limited, ArcelorMittal S.A., Nippon Steel Corporation, Jindal Steel & Power Ltd., Saudi Basic Industries Corporation (SABIC), POSCO
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
In metalworking, rolling is a metal forming method in which metal stock is passed through one or more pairs of rolls to decrease its thickness and to make it uniform. The rolling process is known as hot rolling if the temperature at which the metal is being rolled is above its recrystallisation point.
Thus, during the hot rolling of steel, it is transformed into coil a shaped product upon reaching above its recrystallisation point, thus, resulting in the formation of Hot Rolled Coil.
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