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World hrc benchmark steel prices 2018-2020

Hot-rolled coil (hrc) steel prices are projected to be around 539 U.S. dollars per metric ton in 2019. It is anticipated that steel prices will drop by some five percent between 2018 and 2019.

The impact of tariffs

The United States is among the markets where hot-rolled coil (hrc) steel prices are highest in the world. It was expected that U.S. steel distributors and producers, such as Nucor and United States Steel, would benefit from the steel tariffs on U.S. imports that came into force in the spring of 2018. At the same time, U.S. imports from those countries that are subject to the so-called Section 232 tariffs were projected to decline.

Even though a large part of China's steel exports to the United States had already been restricted through antidumping or countervailing duties, the trade tensions put pressure on steel markets worldwide, including China. Rolled steel was the sixth largest category of Chinese export goods in 2018. Furthermore, China's steel sector had a drop in sales to its domestic auto sector to worry about in early 2019.

Projected hrc steel prices worldwide between 2018 and 2020

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Sources

Release date

April 2019

Region

Worldwide

Survey time period

as of April 2019

Supplementary notes

The 2018 value is already accurate.

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