Hot Rolled Steel Coil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Hot Rolled Steel Coil Prices H2 2023
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Product
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Category | Region | Price |
|---|---|---|---|
| Hot Rolled Steel Coil | Metals | USA | 1030 USD/MT |
| Hot Rolled Steel Coil | Metals | China | 970 USD/MT |
| Hot Rolled Steel Coil | Metals | Germany | 821 USD/MT |
In the second half of 2023, the price of the hot rolled steel coil in the United States reached 1030 USD/MT. Similarly, in China, the hot rolled steel coil prices hit 970 USD/MT in the same month. Germany also saw hot rolled steel coil prices reaching 821 USD/MT during Q2 2023.
Hot Rolled Steel Coil Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Hot Rolled Steel Coil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of hot rolled steel coil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing hot rolled steel coil price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Hot Rolled Steel Coil Market Analysis
The global hot rolled steel coil market size reached 302.1 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 448.95 Million Tons, at a projected CAGR of 4.5% during 2023-2032.
- The expanding construction industry including infrastructure development and residential projects is driving the demand for hot rolled steel coils. These coils are essential for structural components, beams, and columns due to their durability and strength which is influencing the market growth. According to IBEF, by 2040, the real estate market will grow to rupees 65,000 crore (US$ 9.30 billion) from rupees 12,000 (US$ 1.72 billion) crore in 2019. The real estate sector in India is expected to reach US dollar one trillion in market size by 20-30, up from US$ 200 billion in 2021, and contribute 13% to the country's GDP by 2025 retail, hospitality, and commercial real estate are also growing significantly, providing the much-needed infrastructure for India's growing needs. India’s real estate sector is expected to expand to US$ 5.8 trillion by 2047, contributing 15.5% to the GDP from an existing share of 7.3%.
- The extensive use of hot rolled steel coils in manufacturing vehicle frames, chassis, and other components is contributing to the growth of the market. As the automotive industry continues to expand, especially with the rise of electric vehicles (EVs), the demand for hot rolled steel coils increases. For instance, in February 2024, BYD launched its third electric car, the BYD Seal, in India. The electric sedan boasts a sleek design, advanced features, and a range of up to 700 km on a single charge. Priced at around ₹65-70 lakh, the BYD Seal will compete with the Kia EV6 and BMW i4.
- The increasing government investment in infrastructure projects, such as bridges, railways, and highways, is significantly boosting the demand for hot rolled steel coils. For instance, in 2024, following a decisive victory in the recent Lok Sabha elections, the Modi government is expected to continue its infrastructure spending spree with a renewed focus on economic growth and job creation. Earlier this year in February, Finance Minister Nirmala Sitharaman during the interim budget announced a substantial 11% increase in capital infrastructure spending for the next fiscal year, raising the capital expenditure outlay to ₹11.11 lakh crore. This move follows a significant 33% hike last year, emphasizing the government’s commitment to large-scale infrastructure development.
Hot Rolled Steel Coil News
The report covers the latest developments, updates, and trends impacting the global hot rolled steel coil market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.
Latest developments in the hot rolled steel coil industry:
- In May 2024, ArcelorMittal started the construction of an electric arc furnace (EAF) for long products at its Gijon plant, which is expected to produce its first heat in the first quarter of 2026. This investment of Euro213 million will be the first major EAF project to be implemented within the company’s decarbonization program in Europe and will constitute the first step towards low-carbon emissions steelmaking in Asturias.
- In January 2024, DRI production started at China’s leading steel producer Baosteel Zhanjiang Iron & Steel (part of Baowu), in the Guangdong Province. Featuring Energiron ZR – Zero Reformer technology the new plant will produce 1 Mpty of quality DRI by using natural gas, coke-oven gas, and hydrogen.
Product Description
Hot rolled steel coil refers to a type of steel product that is created by rolling steel at high temperatures, typically over 1, 700°F (926°C). This process involves passing the steel through large rolls, which reduces its thickness and shapes it into a coil.
The high temperature keeps the steel malleable, allowing it to be shaped easily. Once the steel cools, it is coiled for storage and transportation.
Hot-rolled steel coils are popular for their rough surface finish and are typically used in applications where precise shapes and tolerances are not critical.
Common uses such as the manufacturing of tubes and pipes, construction, heavy machinery, and automotive frames.
The process of hot rolling imparts beneficial mechanical properties like increased toughness and ductility, making it suitable for structural and industrial applications where strength and durability are essential.
Regional Coverage
The report provides a detailed analysis of the hot rolled steel coil market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.
Global Hot Rolled Steel Coil Price
The report offers a holistic view of the global hot rolled steel coil pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.
Europe Hot Rolled Steel Coil Price
Europe's hot rolled steel coil pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence hot rolled steel coil production costs. Additionally, the region's dependency on hot rolled steel coil imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.
Detailed price information for hot rolled steel coil can also be provided for an extensive list of European countries.
| Region | Countries Covered |
|---|---|
| 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, among other European countries. |
North America Hot Rolled Steel Coil Price
In North America, hot rolled steel coil prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence hot rolled steel coil supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.
Specific data on hot rolled steel coil prices within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Hot Rolled Steel Coil Price
The hot rolled steel coil pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global hot rolled steel coil supply and prices.
Region-wise data and information on specific countries within these regions can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Hot Rolled Steel Coil Price
In the Asia Pacific region, hot rolled steel coil pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of hot rolled steel coil, making the Asia Pacific market a complex environment for price trend analysis.
This analysis can be expanded to include detailed hot rolled steel coil prices for a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Hot Rolled Steel Coil Price
Latin America's hot rolled steel coil market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in hot rolled steel coil prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing hot rolled steel coil pricing trends in this region.
This comprehensive review can be extended to include specific countries within Latin America.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Hot Rolled Steel Coil |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: 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* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
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| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
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| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of hot rolled steel coil pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
- The study examines factors affecting hot rolled steel coil price volatility, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the hot rolled steel coil industry.
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