Market Overview
For the Quarter Ending March 2026
HR Strip Prices in APAC
In India, the HR Strip Price Index rose by 10.61 % quarter-over-quarter, driven by infrastructure procurement.
The average HR Strip price for the quarter was approximately USD 474.00/MT, reported by domestic mills.
HR Strip Spot Price tightened mid-March as export diversions reduced secondary market coil availability notably.
HR Strip Price Forecast anticipates volatility in April from freight pressure and steady fabrication demand.
HR Strip Production Cost Trend showed limited pressure as domestic coal flows improved, tempering costs.
HR Strip Demand Outlook remained constructive with infrastructure tenders and automotive restocking supporting mill offtake.
Late March inventories pressured HR Strip Price Index, prompting mills to trim offers, clear stock.
Export diversions and selective mill allocations tightened domestic availability, sustaining short-term rally in secondary market.
Why did the price of HR Strip change in March 2026 in APAC?
Improved domestic coal flows increased mill output and availability, exerting downward pressure on March prices.
Stronger infrastructure tenders and export diversions supported offtake, providing upside to March HR Strip pricing.
Elevated freight and geopolitical risk increased landed costs, allowing suppliers to sustain firmer offers locally.
HR Strip Prices in North America
In North America, the HR Strip Price Index softened during the quarter due to reduced manufacturing demand and inventory destocking.
HR Strip Spot Price faced headwinds in March as buyers delayed new orders amid economic uncertainty.
HR Strip Price Forecast suggests stability entering Q3 2026, supported by potential tariff adjustments.
HR Strip Production Cost Trend rose modestly as scrap and energy costs increased across domestic mills.
HR Strip Demand Outlook remained mixed, with automotive off-take weakening but construction holding steady.
Late quarter adjustments saw HR Strip Price Index decline as mills competed for limited spot market interest.
Selective mill idling in the Midwest reduced supply, partially offsetting the downward trend.
Why did the price of HR Strip change in March 2026 in North America?
Increased scrap and energy costs raised production expenses, but mills could not pass through full increases due to weak demand.
Automotive restocking failed to materialize as expected, reducing spot buying pressure and pulling prices lower in March.
HR Strip Prices in Europe
In Europe, the HR Strip Price Index declined by approximately 4 % quarter-over-quarter, pressured by subdued industrial activity.
HR Strip Spot Price moved lower through March as import competition intensified from Asia and the Middle East.
HR Strip Price Forecast points to continued softness until energy cost stability returns to the region.
HR Strip Production Cost Trend decreased slightly on lower natural gas prices, easing mill margins pressure.
HR Strip Demand Outlook remained weak, with manufacturing PMI contracting and construction starts slowing.
Inventory overhang in northern Europe weighed on the HR Strip Price Index, forcing mills to adjust list prices downward.
Temporary mill shutdowns during holidays did little to tighten supply, as buyer resistance remained firm.
Why did the price of HR Strip change in March 2026 in Europe?
Lower natural gas prices reduced production costs, giving mills flexibility to cut offers to maintain order books.
Intensifying import competition and weak manufacturing demand created a buyer’s market, driving March prices downward.
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