For the Quarter Ending September 2025
North America
鈥� In USA, the Stainless Steel HR Coil Price Index fell by 0.47% quarter-over-quarter, reflecting tariff burdens and weak end-user demand.
鈥� The average Stainless Steel HR Coil price for the quarter was approximately USD 3015/MT, reflecting modest declines in HRC coil values.
鈥� Stainless Steel HR Coil Spot Price remained under pressure as tariff constraints and high inventory suppressed near-term demand.
鈥� Stainless Steel HR Coil Price Forecast signals cautious upside limited by ongoing tariff impact and soft automotive demand.
鈥� Stainless Steel HR Coil Production Cost Trend remains elevated due to energy costs and logistics, constraining margin recovery.
鈥� Stainless Steel HR Coil Demand Outlook in North America remains soft amid construction slowdowns and vehicle market softness.
鈥� Stainless Steel HR Coil Price Index trends align with a cautious buyers mindset, limiting restocking and pressuring spot liquidity trends.
鈥� Stainless Steel HR Coil Spot Price volatility reflects mix of tariff-inflated landed costs and supplier capacity discipline notably.
Why did the price of Stainless Steel HR Coilchange in September 2025 in North America?
鈥� Tariff burdens and import restrictions remained the dominant drivers of price movement in September 2025.
鈥� Weak domestic demand in construction and automotive sectors constrained restocking and pressured spread profitability significantly.
鈥� Logistics costs and tariff layers further elevated landed costs, shaping pricing discipline among US mills.
APAC
鈥� In Japan, the Stainless Steel HR Coil Price Index fell by 9.88% quarter-over-quarter in Q3 2025, margins.
鈥� The Stainless Steel HR Coil price for the quarter was USD 6915/MT, signaling modest stability in Japan.
鈥� Stainless Steel HR Coil Spot Price tracks Price Index as Price Forecast remains cautious Production Cost Trend.
鈥� Demand Outlook remains mixed, constrained by construction slowdowns and inventory, though automotive demand supports applications.
鈥� Price Index signals tentative stabilization with restocking as mills balance pricing discipline with export competition.
鈥� Production Cost Trend remains upward pressure from energy and alloy inputs, narrowing margins for premium stainless products in modernization cycles.
鈥� Stainless Steel HR Coil Spot Price declines are modest, reflecting ample supply despite resilient end-use demand in sectors.
鈥� The Price Forecast remains conservative for Q4, given inventory levels and competitive imported material pressures.
鈥� Inventory dynamics in APAC regions influence pricing, with distributors cautious and mills prioritizing capacity utilization over aggressive pricing and regions.
鈥� Feedstock costs and energy price volatility continue to shape Stainless Steel HR Coil pricing strategies across Asia and globally.
Why did the price of Stainless Steel HR Coil change in September 2025 in APAC?
鈥� Automotive rebound supported demand in Japan, offsetting construction and machinery weakness, noted.
鈥� Battery and aerospace sectors restocked little, keeping spot price movements modest recently.
鈥� Logistics constraints and regional competition continued to pressure price adjustments in September.
Europe
鈥� In Germany, the Stainless Steel HR Coil Price Index fell by 1.35% quarter-over-quarter, in Q3 2025, due to imports.
鈥� The average Stainless Steel HR Coil price for the quarter was approximately USD 2541.33/MT, reflecting muted demand.
鈥� Stainless Steel HR Coil Spot Price softened further, with the Price Index signaling a bearish stance amid import competition.
鈥� Stainless Steel HR Coil Price Forecast remains cautious, as the Demand Outlook suggests gradual stabilization but thin margins persist.
鈥� Production Cost Trend remains elevated in Germany due to energy and raw material costs pressures.
鈥� Stainless Steel HR Coil Demand Outlook remains mixed, with automotive strength partially offset by weak construction activity.
鈥� Stainless Steel HR Coil Price Index shows ongoing volatility as feedstock costs and currency dynamics influence margins.
鈥� Stainless Steel HR Coil Spot Price movements reflect distributor inventory strategies and regional protective measures shaping regional pricing.
鈥� Stainless Steel HR CoilSpot Price trends align with imported steel pricing, reinforcing domestic mills' cautious pricing approaches.
Why did the price of Stainless Steel HR Coil change in September 2025 in Europe?
鈥� Oversupply from imports and weak construction demand continue weighing on Stainless Steel HR Coilprices in Europe.
鈥� High energy and input costs compress producer margins and limit price flexibility for Europe, notably.
鈥� CBAM and safeguard measures provide some price protection but contribute to market uncertainty and cautious purchasing.
For the Quarter Ending June 2025
North America
鈥� The Stainless Steel HR (SSHRC) Price Index in North America rose by 0.7% quarter-over-quarter in Q2 2025, despite a brief 1.5% dip in June, as tariff policies continued to inflate landed costs. The Q2 average reflects a market struggling with weak domestic demand but facing limited room for downward price adjustment due to external cost pressures.
鈥� The Stainless Steel HR (SSHRC) Production Cost Trend remained mixed, with lower alloy surcharges in Taiwan and China reducing export FOB prices, but U.S. buyers saw little benefit due to Section 232 tariffs and volatile nickel prices. Although supply was stable, export volumes were impacted by shipment delays from Taiwan and freight scheduling gaps.
鈥� The Stainless Steel HR (SSHRC) Demand Outlook remained soft throughout Q2 2025. U.S. construction spending weakened for the fourth consecutive month, while automotive demand declined sharply鈥攙ehicle sales dropped by 14.4% month-on-month in June鈥攍eading to subdued procurement activity and highly selective spot purchases.
Why did the price of聽 聽change in July 2025 in the USA?
The Stainless Steel HR (SSHRC) Spot Price in July 2025 remained broadly stable compared to June, as sufficient inventories and flat domestic production met a weak demand environment. Despite continued downward pressure from Asian FOB values, U.S. import prices held steady due to the tariff floor. Additionally, the Stainless Steel HR (SSHRC) Price Forecast for the near term remains neutral, with no strong cost-push or demand-pull forces expected unless trade policy shifts or construction activity unexpectedly rebounds.
Europe
鈥� The Stainless Steel HR (SSHRC) Price Index in Europe declined by 2.1% quarter-over-quarter in Q2 2025, as regional mills struggled to maintain profitability amid oversupply from low-cost Asian imports and soft downstream demand. The moderate price erosion reflects producers鈥� inability to cut prices further due to elevated cost structures, rather than improved market stability.
鈥� The Stainless Steel HR (SSHRC) Production Cost Trend remained unfavourable, particularly for German mills facing persistently high energy and input costs. Despite aggressive undercutting from Indonesian and Chinese exporters, domestic producers held prices relatively firm, awaiting the implementation of stronger EU safeguard measures such as CBAM and revised quota restrictions.
鈥� The Stainless Steel HR (SSHRC) Demand Outlook was mixed across Europe. Germany鈥檚 residential construction sector continued to contract, dragging on flat steel demand, while civil infrastructure and the automotive sector showed isolated signs of recovery. A 7% month-on-month increase in new car registrations in June provided some cushion for stainless coil consumption but did not offset broader weakness.
鈥� Why did the price of SSHRC change in July 2025 in Europe?
The Stainless Steel HR (SSHRC) Spot Price in July 2025 held broadly steady, reflecting a fragile balance between supply-driven cost floors and demand-side caution. German producers, unable to drop prices further without incurring losses, maintained ex-works offers near minimum viable levels. While the regional oversupply persists, the Stainless Steel HR (SSHRC) Price Forecast remains flat, as the market awaits regulatory triggers to restrict import flows and stabilize mill order books. Demand conditions are too uncertain to support a sustainable price recovery in the short term.
Asia-Pacific (APAC)
鈥� The Stainless Steel HR (SSHRC) Price Index in APAC declined by 5.4% quarter-over-quarter in Q2 2025, reflecting persistent demand weakness across industrial sectors and mounting import pressure from lower-cost Asian suppliers. The steep quarterly drop masks June鈥檚 nominal stability, where mills defended premium product prices amid worsening margins.
鈥� The Stainless Steel HR (SSHRC) Production Cost Trend in Japan remained under strain throughout Q2, driven by elevated prices of nickel and ferromolybdenum. Despite modest increases in feedstock prices and firm LME sentiment, Japanese mills faced eroded profitability, with several reducing capacity utilization to manage costs and preserve price floors on high-grade SSHRC.
鈥� The Stainless Steel HR (SSHRC) Demand Outlook showed divergence. While the construction and machinery sectors continued to underperform, a strong rebound in the automotive industry鈥攏ew vehicle sales surged by 21.3% in June鈥攐ffered a critical demand anchor. Forward-looking optimism is also tied to offshore wind energy development, though near-term stainless demand from that segment remains speculative.
Why did the price of SSHRC change in July 2025 in Asia?
The Stainless Steel HR (SSHRC) Spot Price in July 2025 remained largely stable compared to June, as mills opted to maintain pricing discipline on premium grades. This was supported by strengthening domestic sentiment, especially in the auto sector and manufacturing PMI returning to expansion. While cost pressures linger and regional oversupply persists, Japanese producers avoided deeper discounts to protect margins. The Stainless Steel HR (SSHRC) Price Forecast remains flat in the short term, with pricing likely to stay range-bound unless construction demand rebounds or broader Asian supply tightens.
For the Quarter Ending March 2025
North America
鈥� The Stainless Steel HR Coil Price Index in North America showcased volatility throughout the first quarter (Q1) of 2025, settling at the end of the quarter at USD 3,150/MT for Stainless Steel-304 HR Coil (5 mm) DEL Florida (USA).
鈥� Why did the price of Stainless Steel HR Coil change in April 2025? Entering April 2025, Stainless Steel HR Coil prices showed a decline in comparison to the previous quarter, primarily due to weakening buying sentiment and trade-related concerns.
鈥� In January, prices remained relatively stable amid a modest recovery in construction and manufacturing activities, supporting the Stainless Steel HR Coil Demand Outlook.
鈥� February saw a sharp 8% decrease in the Price Index, triggered by uncertainty around new tariff proposals (25% on Canadian and Mexican imports, 10% on Chinese goods), prompting buyers to delay bulk purchases.
鈥� In March, the market saw a 2.5% rebound in prices, supported by improved industrial demand and rising raw material and production costs.
鈥� The Stainless Steel HR Coil Spot Price was directly impacted by these trade developments and shifting demand patterns.
鈥� The Stainless Steel HR Coil Production Cost Trend remained elevated throughout the quarter due to higher raw material inputs and tariff-induced inflation.
鈥� Looking ahead, the Stainless Steel HR Coil Price Forecast for the region remains mixed, hinging on clarity in trade policy and raw material cost stability.
Europe
鈥� The European Stainless Steel HR Coil Price Index experienced price pressures during Q1 2025, closing the quarter at USD 2,603/MT for Stainless Steel-HR Coil (5 mm) Ex Ruhr (Germany).
鈥� Why did the price of Stainless Steel HR Coil change in April 2025?, In early April 2025, the price saw a decline, primarily due to weak demand and intense import competition.
鈥� January registered a 2% drop in prices amid a slowdown in the automotive and construction sectors. Rising energy costs and imports from Taiwan also weighed on producers.
鈥� February brought temporary price stability, supported by a minor uptick in orders and relatively firm nickel prices, but sentiment remained cautious due to ongoing overcapacity in Asian markets.
鈥� In March, prices rose by 2.4%, driven by a surge in car sales and increasing nickel costs, though fears of low-cost imports continued to loom.
鈥� The Stainless Steel HR Coil Spot Price reflected the persistent tug-of-war between demand recovery and global supply risks.
鈥� European producers also faced an unfavorable Stainless Steel HR Coil Production Cost Trend due to energy inflation and low mill utilization.
鈥� The Stainless Steel HR Coil Demand Outlook remains cautious, with hopes resting on tighter EU trade policies to curb imports.
鈥� The Stainless Steel HR Coil Price Forecast suggests a tentative recovery in prices, assuming demand improves, and policy support materializes.
Asia-Pacific (APAC)
鈥� In Q1 2025, the APAC region recorded growth in the Stainless Steel HR Coil Price Index, which reached USD 1,033/MT for Stainless Steel-201 HR Coil (3 mm) Ex Shandong (China).
鈥� Why did the price of Stainless Steel HR Coil change in April 2025?, In April 2025, prices showed an increase compared to the previous quarter, aided by production normalization and stable demand recovery.
鈥� January began with stable pricing, even though stainless steel output fell by 9.32% month-on-month, especially in the 200-series, due to seasonal shutdowns and high production costs.
鈥� In February, prices increased by 4% following the Chinese New Year as downstream operations resumed and buyers re-entered the market.
鈥� March brought stabilization in the market, driven by a 19.02% rise in crude stainless steel production, although high inventories and restrained downstream consumption balanced out pricing momentum.
鈥� The Stainless Steel HR Coil Spot Price remained sensitive to changes in inventory levels and production pace.
鈥� The Stainless Steel HR Coil Production Cost Trend was shaped by raw material volatility, energy prices, and post-holiday industrial activity.
鈥� The Stainless Steel HR Coil Demand Outlook in APAC remains cautiously optimistic, with potential for recovery depending on inventory normalization.
鈥� The Stainless Steel HR Coil Price Forecast suggests steady to moderate gains in the upcoming quarter, provided demand strengthens across construction and manufacturing sectors.
For the Quarter Ending December 2024
North America
In Q4 2024, the Stainless-Steel Hot Rolled Coil (SSHRC) market in North America saw mixed dynamics characterized by a stable pricing environment despite underlying challenges in demand and production. Prices for SSHRC experienced a modest decline of 4% in October due to decreasing nickel prices and subdued demand from the manufacturing sector. However, by December, prices stabilized, supported by strong raw steel production rates and the maintenance of anti-dumping duties, which elevated domestic price protection.
Manufacturing and supply dynamics were influenced by strong performance in steel production, with raw steel output in the U.S. reaching 1.658 million net tons by the end of December. Even so, ongoing uncertainties in the construction sector, compounded by high mortgage rates and declining real estate activity, softened demand levels. The overall year-end residential slowdown led to cautious purchasing behaviour among consumers.
The quarter-ending price for Stainless Steel-304 HR Coil (5 mm) DEL Florida stood at USD 3,374/MT. Throughout Q4, the pricing trend for SSHRC remained relatively steady, with fluctuations stemming from market recovery efforts amid stabilized production levels and supportive government policies.
Europe
In Q4 2024, the Stainless-Steel Hot Rolled Coil (SSHRC) market in Europe, particularly in Germany, faced significant challenges characterized by a considerable decline in prices amid weakening demand from key sectors. Prices dropped 6% in October and November, followed by an additional 6% decrease in December, resulting in steep overall declines due to sustained oversupply and softening market conditions. The market has been impacted by subdued performance in both the automotive and construction industries, which remain critical for SSHRC consumption. Reports indicate that new housing approvals and automotive registrations continue to lag, inhibiting growth and prompting concerns about future demand. Despite increased production levels, including an 8.6% rise in crude steel production year-on-year, the oversupply scenario has pressured pricing. The quarter-ending price for Stainless Steel-HR Coil (5 mm) Ex Ruhr stood at USD 2,607/MT. Throughout Q4, prices reflected a downward trend, with Q4 averages illustrating a challenging environment. As economic uncertainty persists, market participants must navigate elevated energy costs and muted demand signals, complicating recovery efforts and necessitating strategic adjustments to sustain operations in the coming months.
APAC
In Q4 2024, the Stainless-Steel Hot Rolled Coil (SSHRC) market in the APAC region displayed a relatively stable pricing environment, driven by robust demand from the automotive sector despite fluctuations in production and inventory levels. The price for SSHRC witnessed a modest decline of 3% in October due to fluctuations in nickel prices but remained stable in November and December, supported by increased downstream demand. Manufacturing dynamics indicated that while overall stainless-steel production in China experienced slight month-over-month declines, specific categories such as the 200-series benefited from stable output from leading enterprises and improved operating rates. Government stimulus measures, including monetary policy adjustments, bolstered market confidence, creating a cautiously optimistic atmosphere. Demand metrics showed a strong rebound in automotive sales, which rose 18% year-over-year in November, offsetting slower activity in the construction sector. The quarter-ending price for Stainless Steel-201 HR Coil (3 mm) Ex Shandong stood at USD 994/MT. Overall, while the market showed stability in pricing through Q4, supply chain dynamics and seasonal factors, including the upcoming Chinese New Year, pose challenges that may affect demand and production levels in early 2025. Market participants must navigate these complexities to maintain equilibrium in the SSHRC landscape.
