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The global hot-rolled coil (HRC) market is witnessing a phase of mixed momentum, as European demand shows signs of recovery while China’s consumption continues to weaken, according to industry analysts.
In Europe, the construction and automotive sectors are driving renewed buying activity, supported by stable energy prices and improved manufacturing sentiment. Prices for HRC in Western Europe have firmed slightly, with mills reporting moderate order inflows for Q4 2025.
However, in contrast, China’s steel market remains under pressure due to weak real estate activity, excess inventories, and slow infrastructure spending. Falling domestic demand has prompted Chinese mills to increase exports, adding volatility to global pricing.
Meanwhile, in Southeast Asia and the Middle East, import demand remains cautious, with buyers closely tracking price movements and regional supply trends.
Market observers expect global HRC prices to fluctuate within a narrow band in the near term as producers seek to balance oversupply from Asia against gradual recovery in Europe and the US.
Analysts say the coming quarters will test how effectively global mills can manage production levels amid diverging regional steel market trends.
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