Steel Price Tracker: Mixed pricing across the globe: weaker China and stronger US flat steel

Research evidence excerpt

Steel Price Tracker: Mixed pricing across the globe: weaker China and stronger US flat steel

and.

Europe: stable but subdued market conditions

According to Platts, European HRC market conditions remained stable but subdued, with

quieter activity ahead of the summer period and softer demand limiting spot buying.

Service centers continued to adjust inventories at lower levels due to slower sales, while

increasing competition among mills shifted negotiating power toward buyers. Although

expectations for stronger prices remain limited in the near term, market participants

anticipate eventual restocking following the implementation of revised safeguard

measures, even as uncertainty continues to weigh on current activity.

North America: HRC prices up and rebar flat

Platts reported that weekly US steel prices were mixed last week, with HRC up $11.02/t

w/w to $1,256.6/t and rebar flat at $945/t. Lead times were up to 6.8 weeks for HRC

and down to 8.8 weeks for CRC. According to Platts, US steel market conditions

remained relatively firm, with HRC supply remaining tight, which supported elevated

offer levels and expectations of further upside despite only stable demand across most

segments. Lead times extended into August, and mills were selective in quoting new

orders, reinforcing pricing discipline even as activity remained uneven across products.

In long steel, rebar prices were broadly stable, supported by solid demand from

infrastructure and data center sectors, although overall demand remained mixed across

regions. While inventories and scrap costs stayed stable, increasing import availability in

some areas could weigh on pricing power in the near term, keeping market sentiment

balanced but cautiously supportive.

2 Steel Price Tracker | 23 June 2026