HRC prices rose 9% Q-o-Q in Oct’24, driven by a mix of tighter inventories and mill price hikes. US HRC prices are expected to rise slightly in Q4’24, primarily due to the Fed's 50 basis point rate cut as well as squeezed mill margins.

HRC prices fell 5% Q-o-Q in Oct’24, primarily driven by weak domestic demand in the automotive industry. Tight mill margins and weak demand have resulted in recent output cuts. While prices are expected to rise in Q4 due to furnaces going offline, the lack of strong demand limits the potential for sustained price rallies.

HRC prices remained flat Q-o-Q in Oct’24. A sluggish real estate market and broader economic downturn initially pushed prices downwards in early Q3, while government stimulus led to a rally in late Q3. A slow price increase is anticipated in Q4’24, driven by government policies aimed at stimulating the real estate sector.