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During the Second quarter of 2022, the Hot Rolled Coil pricing witnessed see-saw sentiment. In April, the HR Coil prices showcased an upswing trend owing to a constrained supply chain and raw material shortages amidst the ongoing geopolitical tensions. Limited import offers and higher freight rates further increased HR Coil costs. However, some plants in the Midwest witnessed stock availability in late May, while others moved into June. Additionally, because of their extensive inventories, distributors and service centers purchase smaller volumes. The firms are concerned about additional hikes in scrap and energy costs. They are, therefore, reluctant to concede reductions in selling prices. Thus, several market players opted wait-and-watch outlook amidst the stagnant demand.

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