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    April 24, 2025

    S232 lifts EU HR price over US, Asian HR still well behind

    Written by David Schollaert

    Domestic hot-rolled (HR) coil prices were flat this week after dropping for four straight weeks. Most offshore markets bucked the trend and gained ground.

    Tariff fears have slowed the US market, a trend further stressed since “Liberation Day.” Stateside prices have slipped in response, and spot buyers stepped back. And little change was seen even after the 90-day pause on harsher “reciprocal” tariffs was announced in early April.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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