# Goldman Sachs says average hot rolled coil (HRC) prices increased across nearly all major regions in April.

*business · news · 2026-05-17 · Business Today*

## Key points

- Brazil led hot rolled coil price increases with a 10% monthly rise, outpacing all major regions.
- China’s delayed capacity cuts in steel are now expected to extend into 2026, slowing production reforms.
- India’s crude steel production growth reached 11% year-on-year in March, among the world’s fastest rates.
- Infrastructure investment in China, excluding water and power, rose 8.9% year-on-year in early 2026.
- Goldman Sachs projects US steel prices will stay stronger than Europe, China, and Brazil through 2026.

**Companies:** Goldman Sachs
**Countries:** Brazil, China, Japan, US, India, Europe

[Read the full story on Business Today](https://www.businesstoday.in/india/story/china-steel-output-slows-while-india-emerges-as-key-growth-market-goldman-sachs-report-531876-2026-05-17)

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