Global steel producers are maintaining high HRC prices

Tokyo Steel, a leading Japanese electric arc furnace steel producer, raised prices for May HRC (1.7–22 mm) sales by 5,000 yen/ton ($31/ton) compared to the previous month, according to BigMint.

In addition, the company raised prices for rebar and I-beams by 3,000 yen/t ($19/t) and 5,000 yen/t ($31/t), respectively, compared to the previous month.

Tokyo Steel’s price hikes reflect ongoing cost pressures in the Japanese steel market, driven primarily by rising raw material prices.

As noted, domestic demand for steel in Japan remains uneven across key segments. In particular, demand in the flat-rolled steel segment is stable across the entire manufacturing sector, despite some export-related difficulties and challenges in procuring raw materials due to the conflict in the Middle East.

Meanwhile, U.S. steel producer Nucor raised its spot consumer price (CSP) for hot-rolled coil (HRC) by $10 per short ton compared to the previous week. This is stated in the company’s letter to customers dated April 20. Thus, it stands at $1,055/ton. This weekly price increase marks the 14th consecutive one.

The spot consumer price for Nucor’s West Coast joint venture, California Steel Industries (CSI), also rose by $10, with the new price set at $1,105 per short ton.

Since January 20 of this year, Nucor has raised its CSP by $95 per short ton.

As a reminder, China’s Baoshan Iron & Steel Co (Baosteel) recently raised prices for May sales of certain key flat steel products, including hot-rolled coil (HRC), by 100 yuan per ton ($15/ton) for the domestic market. Overall, HRC prices in China saw some growth in March, supported by rising raw material costs and a gradual increase in demand for the latter.

As reported by GMK Center, global prices for hot-rolled coil rose in most key regions in March 2026—by 1–6% month-over-month. By the end of the first quarter, the market showed a noticeable recovery: current offers exceed late-2025 levels by 3–15%. At the same time, the weakest performance was still recorded in China.