HRB Steel Prices

HRB Steel Prices December 2023

In the fourth quarter of 2023, the price of the HRB steel in the United States reached 1515 USD/MT by December.

HRB Steel Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “HRB Steel Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of HRB steel 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 price of HRB steel at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of HRB steel price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing HRB steel 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.

HRB Steel Market Analysis

The global HRB steel market size reached US$ 163.5 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 243.03 Billion, at a projected CAGR of 4.50% during 2023-2032.

• HRB steel plays a crucial role in the construction sector mainly in applications requiring structural integrity such as beams, columns and reinforcement bars. The industry's demand for HRB steel is closely tied to infrastructure development, urban expansion and housing projects. As urbanization drives the need for new buildings and infrastructure, and governments investment in public works projects drives the consumption of HRB steel, this is contributing to the market growth. According to the report published by Invest India, the construction industry in India is projected to grow to $1.4 trillion by 2025 with cities expected to contribute 70% of the country's GDP by 2030. With an investment budget of $1.4 trillion on infrastructure under NIP funds are dedicated to various sectors such as renewable energy, roads & highways, urban infrastructure and railways. Additionally, the Union Budget 2023 highlights a 33% increase in capital investment outlay to INR 10 lakh Cr with PM Awas Yojana receiving over INR 79,000 Cr and a yearly INR 10,000 Cr outlay for the Urban Infrastructure Development Fund.  The growth of the construction industry thus directly influences the demand for HRB steel.
• Technological advancements in steel production continuously reshape the HRB steel market by enhancing efficiency, reducing costs and improving quality. Innovations such as advanced furnace designs, automated processes and alloy developments optimize production, making HRB steel manufacturing more competitive. These advancements also enable manufacturers to meet stringent quality standards and customer specifications fostering market growth. By adopting state-of-the-art technologies steel producers can streamline operations, minimize waste and respond flexibly to fluctuating market demands thereby maintaining a competitive edge in the global marketplace for HRB steel.
• Economic growth and GDP trends are pivotal for the HRB steel market as they directly influence the product demand dynamics. When GDP shows robust growth it signals increased economic activity, which drives up construction and manufacturing sectors' demands for HRB steel. Investments in infrastructure, commercial buildings, and industrial projects expand alongside economic prosperity fostering higher consumption of HRB steel. In June 2024, India's manufacturing Purchasing Managers’ Index (PMI) witnessed a significant increase mainly driven by high demand and the highest employment activity in 19 years. The Eight Core Industries Index also expanded by 6.5% year-on-year in the first two months of FY25. While steel demand increased auto sales faced challenges. The services sector set new records with strong domestic demand and robust growth in international markets. Power consumption and digital payments also saw significant increases highlighting India's economic resilience and growth.

HRB Steel News

The report covers the latest developments, updates, and trends impacting the global HRB steel 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 impact the HRB steel price trend.

Latest developments in the HRB steel industry:

• In December 2023, Shagang Group acquired 12.73% equity in Fushun Special Steel from Dongbei Special Steel for RMB 2.334 billion. This makes Shagang Group the second largest shareholder in Fushun Special Steel. Fushun Special Steel's revenue for the first nine months of the year was RMB 6.274 billion with a net profit of $39.6 million. Shagang Group aims to address Dongbei Special Steel's capital availability issues and is optimistic about Fushun Special Steel's future prospects.
• In July 2024, Nippon Steel Corporation and Sumitomo Corporation extended their long-term supply contract with Aker BP ASA for OCTG until 2034. Aker BP is a major energy company in Europe, engaged in oil and gas exploration and production. Nippon Steel's high-performance OCTG, tailored product development, and supply chain management led to the contract renewal. The partnership aims to expand into new areas such as decarbonization, hydrogen, and ammonia business for energy security and a decarbonized society.

Product Description

HRB steel, short for Hot Rolled Bar steel is a type of carbon steel that undergoes a hot rolling process at temperatures exceeding 1700 degrees Fahrenheit (926 degrees Celsius). This method involves passing steel billets or ingots through rollers while they are still red-hot shaping them into round, square, flat or hexagonal bars. HRB steel is valued for its high strength, ductility and weldability which makes it suitable for various structural applications in construction and manufacturing sectors. It is commonly used for producing beams, columns, reinforcement bars and other components where durability and strength are crucial. Due to its hot rolling process HRB steel retains a scaled surface finish which can be either removed through further processing or left intact depending on the application requirements.

Regional Coverage

The report provides a detailed analysis of the HRB steel market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast 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 HRB steel price trend.

Global HRB Steel Price

The report offers a holistic view of the global HRB steel pricing trends in the form of HRB steel price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of HRB steel but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed HRB steel demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe HRB Steel Price

Europe's HRB steel 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 HRB steel production costs. Additionally, the region's dependency on HRB steel imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for HRB steel can also be provided for an extensive list of European countries.

North America HRB Steel Price

In North America, HRB steel 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 HRB steel supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific HRB steel historical data within the United States and Canada can also be provided.

Middle East and Africa HRB Steel Price

The HRB steel 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 HRB steel supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific HRB Steel Price

In the Asia Pacific region, HRB steel 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 HRB steel, making the Asia Pacific market a complex environment for price trend analysis.

This HRB steel price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America HRB Steel Price

Latin America's HRB steel 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 HRB steel 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 HRB steel pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of HRB steel 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 HRB steel price trend, 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. The HRB steel price charts ensure our clients remain at the forefront of the industry.