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HR Strip Pricing, Demand and Supply Overview
HR Strip prices in the United States, the highest-cost reporting region, firmed a further 3.4% in Q2 2026 to USD 1,055.00/MT from USD 1,020.00/MT in Q1, extending the sharp tariff-driven rally that began earlier in the year. Globally, the average rose from USD 665.20/MT in Q1 to USD 681.60/MT in Q2, a 2.5% gain. For H2 2026, a global average of USD 655.00-700.00/MT is expected, with continued US import restrictions and firm European restocking likely to keep the broader market on an upward path even as China's gains stay comparatively modest.
HR Strip, more widely known as hot rolled coil, is produced by rolling steel slabs at temperatures above the recrystallization point, giving the resulting strip enhanced ductility and formability at a lower cost than cold rolled or coated products. It serves as the base material for construction beams and decking, automotive frames and structural components, pipe and tube manufacturing, and further downstream processing into cold rolled and galvanized sheet. Raw material costs for iron ore and coking coal, regional trade policy and import restrictions, service center inventory levels, and underlying demand from construction, automotive, and manufacturing sectors are what drive prices in this market.
HR Strip Price Forecast for 2026
The setup for HR Strip through H2 2026 stays tilted firm, led by the United States, where import restrictions continue to limit competing supply and keep domestic mills in a strong pricing position. Germany and India should extend their steadier upward paths on lean service center stocks and large infrastructure project pipelines respectively, while China looks set for only modest further gains given its ample domestic capacity.
The main upside risk is a further tightening of import policy in the United States or the European Union, which could push domestic premiums even higher than currently forecast. The main downside risk is a faster-than-expected release of Chinese export tonnage, which would pressure prices in every market that competes with Chinese mills for import demand.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 655.00 - 700.00 | US import protection and firm EU restocking lead gains |
| United States | 1,030.00 - 1,090.00 | Import restrictions sustain a wide premium |
| Germany | 720.00 - 750.00 | Lean service center stocks support continued firming |
| India | 645.00 - 670.00 | Large project pipelines keep demand firm |
| China | 478.00 - 495.00 | Ample capacity limits further near-term gains |
For the Quarter Ending June 2026
HR Strip Prices Q2 2026:
- United States: USD 1,055.00/MT
- Germany: USD 735.00/MT
- India: USD 648.00/MT
- China: USD 485.00/MT
HR Strip Prices in the United States
US HR Strip prices averaged USD 1,055.00/MT in Q2 2026, up 3.4% from USD 1,020.00/MT in Q1, as import restrictions continued to limit the volume of competing tonnage reaching domestic buyers.
Why did the price of HR Strip change in Q2 2026 in the United States?
Domestic mills kept pricing power firmly in hand as import volumes stayed constrained under existing trade measures, and steady automotive and construction demand gave buyers little room to negotiate. Even with some service centers carrying higher stock levels, replacement cost expectations kept offers moving higher.
HR Strip Prices in Germany
German HR Strip prices averaged USD 735.00/MT in Q2 2026, up 2.8% from USD 715.00/MT in Q1, as lean service center stocks kept end-users buying even at higher offer levels.
Why did the price of HR Strip change in Q2 2026 in Germany?
Spring infrastructure tenders accelerated across the region, and service centers that had let stocks run lean found themselves buying aggressively to keep pace with end-user orders. Firm raw material costs and steady automotive intake reinforced the upward move.
HR Strip Prices in India
Indian HR Strip prices averaged USD 648.00/MT in Q2 2026, up 2.0% from USD 635.00/MT in Q1, a more moderate gain than the sharper move seen earlier in the year as some project timelines shifted.
Why did the price of HR Strip change in Q2 2026 in India?
Growing steel demand from infrastructure and construction projects kept underlying consumption firm, though some fabricators paced their purchases more cautiously than in the sharper Q1 rally, moderating the pace of the gain.
HR Strip Prices in China
Chinese HR Strip prices averaged USD 485.00/MT in Q2 2026, up a modest 1.5% from USD 478.00/MT in Q1, holding to the narrow, gradual climb that has defined this market all year.
Why did the price of HR Strip change in Q2 2026 in China?
Ample inventories at both mills and traders kept a lid on stronger gains, even as modest infrastructure support measures and controlled mill restarts provided some underlying price support. Export channels stayed competitive but thin, limiting the upside.
For the Quarter Ending March 2026
HR Strip Prices Q1 2026:
- United States: USD 1,020.00/MT
- Germany: USD 715.00/MT
- India: USD 635.00/MT
- China: USD 478.00/MT
HR Strip Prices in the United States
US prices jumped 6.8% in Q1 2026 to USD 1,020.00/MT from USD 955.00/MT in Q4 2025, the sharpest quarterly gain of any market tracked in this report as import restrictions and firm domestic consumption combined.
Why did the price of HR Strip change in Q1 2026 in the United States?
Section 232-style import restrictions kept a lid on the volume of foreign tonnage reaching the domestic market, and that scarcity, layered on top of firm underlying demand, gave domestic mills significant room to raise offers through the quarter.
HR Strip Prices in Germany
German prices rose 3.6% in Q1 2026 to USD 715.00/MT from USD 690.00/MT in Q4 2025, supported by improving construction activity and steady automotive sector intake.
Why did the price of HR Strip change in Q1 2026 in Germany?
Spring infrastructure tenders began accelerating across the region even as service center stocks stayed comparatively lean, creating the kind of gap between demand and available inventory that tends to show up quickly in price.
HR Strip Prices in India
Indian prices climbed 3.3% in Q1 2026 to USD 635.00/MT from USD 615.00/MT in Q4 2025, as large infrastructure project pipelines kept mills running at healthy utilization.
Why did the price of HR Strip change in Q1 2026 in India?
Restocking activity and large-scale project pipelines kept Indian mills busy, and with export channels also drawing on available tonnage, domestic buyers had to compete harder for supply than in the prior quarter.
HR Strip Prices in China
Chinese prices rose 1.7% in Q1 2026 to USD 478.00/MT from USD 470.00/MT in Q4 2025, a modest gain as mills resumed output following scheduled maintenance and Lunar New Year-related inventory buildup.
Why did the price of HR Strip change in Q1 2026 in China?
Chinese mills resumed normal output after scheduled maintenance and the Lunar New Year period, and while that added supply, firm iron ore and coking coal costs alongside thin mill margins kept prices from giving back much ground.
Quarterly HR Strip Price Trends
Global HR Strip prices dipped modestly in Q2 2025 before climbing steadily through the following four quarters, with the pace of gains accelerating sharply in Q1 2026 as US import restrictions and firm European and Indian demand pushed the global average to a new high, a trend that continued, albeit more gradually, into Q2.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 681.60 | +2.5% | ↑ Rising |
| Q1 2026 | 665.20 | +3.9% | ↑ Rising |
| Q4 2025 | 640.00 | +1.9% | ↑ Rising |
| Q3 2025 | 628.00 | +1.3% | ↑ Rising |
| Q2 2025 | 620.00 | - | — Stable |
| Q3 2026 | In Progress | - | — In Progress |
What was HR Strip Price in 2025?
HR Strip firmed across every market covered in this report through 2025, with the United States and Germany posting the strongest gains as import policy and lean regional stocks respectively supported prices, while China's ample domestic capacity kept its rise comparatively modest.
HR Strip Prices in the United States in 2025
US prices firmed from about USD 980.00/MT in Q1 2025 to USD 955.00/MT by Q4, essentially flat at roughly -2.6% for the year, before the sharp Q1 2026 tariff-driven rally took hold. Import restrictions building through the year set the stage for that acceleration.
HR Strip Prices in Germany in 2025
German prices firmed from about USD 660.00/MT in Q1 2025 to USD 690.00/MT by Q4, up roughly 4.5%. Gradually improving construction and automotive demand kept this market on a steady upward path through the year.
HR Strip Prices in India in 2025
Indian prices firmed from about USD 590.00/MT in Q1 2025 to USD 615.00/MT by Q4, a gain of roughly 4.2%. Growing infrastructure and construction-linked demand supported consistent gains across 2025.
HR Strip Prices in China in 2025
Chinese prices firmed from roughly USD 460.00/MT in Q1 2025 to USD 470.00/MT by Q4, up about 2.2%, the smallest annual gain of the four regions as ample domestic capacity kept a lid on the pace of increase.
How We Can Help
Expert Market Research: Your Source for Real-Time HR Strip Price Intelligence
Expert Market Research tracks HR Strip prices continuously across every major producing and consuming region, combining raw material cost data, trade policy developments, and service center inventory trends into a single, regularly updated view of the market. Our team can help your procurement function benchmark current offers, plan purchases around the regional divergence covered in this report, and build a defensible view of where this benchmark flat steel product is headed next. Reach out to our team for a tailored briefing or a deeper look at any of the regional markets covered here.
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Key Questions Answered in the Report
It serves as the base material for construction beams and decking, automotive frames and structural components, pipe and tube manufacturing, and further processing into cold rolled and galvanized sheet.
The Q2 2026 global average was USD 681.60/MT, ranging from USD 485.00/MT in China to USD 1,055.00/MT in the United States.
The global average rose from USD 640.00/MT in Q4 2025 to USD 665.20/MT in Q1 2026 and then to USD 681.60/MT in Q2, led by a sharp tariff-driven rally in the United States.
Import restrictions have limited the volume of competing foreign tonnage reaching domestic buyers, and that scarcity, combined with steady automotive and construction demand, has given domestic mills significant pricing power.
The global average is expected in the USD 655.00-700.00/MT range, led by continued US import protection and firm European restocking.
China holds the lowest cost on ample domestic capacity and export competitiveness, while the United States carries by far the highest cost given import restrictions and firm domestic demand.
This report is updated monthly. For real-time pricing intelligence, connect with the Expert Market Research team.
Raw material costs for iron ore and coking coal, regional trade policy and import restrictions, service center inventory levels, and underlying demand from construction, automotive, and manufacturing sectors.
China, Japan, India, and Russia are among the largest exporters, while the United States and the European Union maintain substantial domestic capacity behind significant trade protections.
Buyers can time forward purchases around the regional and quarterly breakdowns in this report, monitor trade policy developments given their outsized influence on regional premiums, and benchmark supplier quotes against the tracked price ranges.
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