Bloomberg: US hot-rolled coil reaches highest price since May 2022

US hot-rolled coil steel prices have risen 52% over the past year to $1,255 per short ton, Bloomberg reported on October 16, citing market data. That is the highest level since May 2022.

The benchmark covers hot-rolled coil, a widely used form of steel. Bloomberg’s quoted price is per short ton rather than for an entire coil.

According to RIA Novosti’s account of Bloomberg’s report, US prices are about 75% above European levels and nearly three times those in China. Bloomberg linked the gap to import tariffs and reduced orders from abroad.

Higher domestic prices and weaker foreign competition benefit American steel producers, the agency said. At the same time, steel buyers in construction, manufacturing and digital infrastructure face higher input costs.