In September 2025, HRC prices fell 5% Q-o-Q in the US and 6% Q-o-Q in the EU due to weak demand and oversupply, while China saw a 7% Q-o-Q increase driven by higher input costs and production cuts. Looking ahead to the end of 2025, US prices are expected to decline further, EU prices to stabilize, and China’s market to remain flat amid mixed supply-demand pressures.