EU HRC prices inch higher amid safeguard review anticipation
European domestic hot-rolled coil prices saw a modest uptick on Feb. 28, with market participants closely monitoring the upcoming EU safeguard review, which is widely expected to impact import volumes and pricing dynamics.
A North Europe-based mill source reported tradable values for 1,000-2,000 mt at Eur620/mt ex-works Ruhr, while offers in the region were heard at Eur640-650/mt ex-works Ruhr.
Sources noted that some mills had withdrawn lower offers earlier in the week and were preparing to reenter the market with price increases of at least Eur20/mt.
In Southern Europe, the Italian market saw tradable values at Eur600-610/mt ex-works Italy, with offers for orders exceeding 1,000 mt starting at a minimum of Eur600/mt.
Despite an overall cautious approach from buyers, a mill source emphasized that the market remained active, with no possibility of booking domestic material below Eur600/mt.
Import pricing remained a focal point for buyers assessing competitiveness against domestic supply.
Turkish-origin HRC offers were reported at Eur600-610/mt CIF Italy, duty paid, with tradable values slightly lower at Eur580-590/mt.
Meanwhile, lower-cost options were available from Indonesia and Malaysia, with offers at Eur550/mt CIF Italy.
A Germany-based distributor highlighted an improving market sentiment, with apparent consumption picking up and optimism growing among buyers.
“Not all mills are very busy, but they are withdrawing offers with the intention to return with higher pricing,” the source said.
The distributor also pointed to rising US prices, which, despite the 25% tariff, may not significantly deter EU exports, as US buyers appear willing to absorb the additional cost.
With the safeguard review announcement expected imminently, market participants remain focused on potential changes to quota allocations and procedural adjustments.
One trader suggested that the review could introduce measures to tighten regulations and close loopholes, further shaping the import landscape.
Platts assessed HRC in Northwest Europe at Eur612.50/mt ex-works Ruhr, up Eur2.50 on the day. In Southern Europe, HRC was assessed at Eur605/mt ex-works Italy, stable on the day.
Platts assessed imported HRC in Northwest Europe at Eur550/mt CIF Antwerp, and at Eur545/mt CIF South Europe, both stable on the day.
Accelerated push for EU-India free trade agreement raises concerns for European steel industry
Sources within the European steel industry have expressed concern at the announcement by European Commission President Ursula von der Leyen that India and the EU are aiming to finalize a free trade agreement by the end of the year.
Speaking during a Feb. 28 joint press engagement in New Delhi with Indian Prime Minister Narendra Modi, von der Leyen affirmed that a closer alliance with India would be “a cornerstone of Europe’s policy in the years and decades to come,” built on enhanced cooperation on trade, technology, security and defense.
“A free trade agreement between the EU and India would be the largest deal of this kind anywhere in the world. I am well aware it will not be easy. But I also know that timing and determination counts, and that this partnership comes at the right moment for both of us,” von der Leyen said. “This is why we have agreed with Prime Minister Modi to push to get it done during this year. And you can count on my full commitment to make sure we can deliver,”
India and the EU resumed talks on a free trade agreement in 2021 after negotiations collapsed in 2013.
The EU wants India to lower tariffs of more than 100% on imported cars, whiskey and wine, while India seeks greater EU access for its drugs and chemicals producers.
India is also strongly opposed to Europe’s Carbon Border Adjustment Mechanism, which levies a carbon tax on certain exports into the EU including steel, aluminum and cement.
The CBAM is in a transition phase that started Oct. 31, 2023, and will phase in from 2026 through 2034. The iron-steel industry is expected to be sector most severely by the implementation of the CBAM.
The EU has significantly stepped up its efforts to sign trade agreements with third countries since the reelection of US President Donald Trump, announcing trade agreements with the Mercosur bloc – pending ratification – as well as with Mexico and Malaysia.
On Feb. 26, US President Donald Trump stated that he plans to place a 25% tariffs on all EU-produced goods, claiming the that bloc was established to “screw the United States.”
For her part, von der Leyen said, “It is time to be pragmatic and ambitious. And to realign our priorities for today’s realities.”
Sources within the European steel market expressed concern at the potential concessions the EU could offer as part of any free trade agreement with India.
“Von der Leyen opening [trade negotiations] with India is worrying,” a source within the Italian stainless steel scrap industry told Platts. “The Indian market is so aggressive, if they cancel [European] safeguarding measures then it could be a disaster for Italian steel works. I worry because the Indian market can get cheap raw materials from Indonesia, so when they export to Europe they can offer material at a lower price, it could undercut the European market.”
Steel imports from India is currently subject to a series of EU reviews and investigations.
The European Commission announced Aug. 8 an anti-dumping investigation for certain non-ferrous products originating from Egypt, India, Japan and Vietnam. The announcement, published in the Official Journal of the European Union, said that European Steel federation Eurofer lodged a complaint alleging that the imports of certain hot-rolled flat products originating from these four nations were being dumped into the market and, therefore, causing economic damage to the bloc.
In addition, the EC is currently conducting a review of the safeguard measures applicable to imports of certain steel products to reassess the allocation and management of tariff rate quotas to ensure they align with current market dynamics and stakeholder interests. India is one of the countries affected by this measure as it has a substantial interest in exports of stainless steel bars to the EU.
European domestic hot-rolled coil prices saw a modest uptick on Feb. 28, with market participants closely monitoring the EU safeguard review, which is expected to impact import volumes and pricing dynamics.
Platts, part of S&P Global Commodity Insights, assessed HRC in Northwest Europe at Eur612.50/mt ex-works Ruhr, up Eur2.50 on the day. In Southern Europe, HRC was assessed at Eur605/mt ex-works Italy, stable on the day.
Platts assessed imported HRC in Northwest Europe at Eur550/mt CIF Antwerp, and at Eur545/mt CIF South Europe, both stable on the day.
Aurora to construct distribution facilities for Blastr’s green steel plant
Norwegian decarbonized steel developer chas announced that it has reached an agreement with Finland-based Aurora Infrastructure for the latter to build electricity distribution facilities for its green steel plant under development at Inkoo, Finland.
Accordingly, Aurora will undertake the design, construction, operation, maintenance and financing of the distribution facilities, allowing Blastr to advance its green steel project.
Additionally, Blastr will also explore the option to outsource its electricity networks to Aurora Infrastructure.
New car registrations in EU down 2.6 percent in January
In January this year, new passenger car registrations in the EU fell by 2.6 percent year on year to 831,201 units, according to the European association of car manufacturers ACEA.
In the given month, three major markets, namely, France (-6.2%), Italy (-5.8%) and Germany (-2.8%), posted decreases, while in Spain new car registrations went up by 5.3 percent, all year-on-year basis.
European HRC prices broadly stable amid uncertainties over safeguard measures
European HRC buyers were partially accepting higher offers for HRC, however traded volumes were still limited, sources said.
First-tier suppliers in Northern Europe were reportedly sold out for April-delivery coil and were offering HRC with May lead times around €640-660 ($669-689) per tonne ex-works.
Italy-origin HRC with April-May lead times was offered in Germany at €640-650 per tonne delivered.
Most buyer sources estimated tradable prices at €620-630 per tonne ex-works, Fastmarkets understands.
As a result, Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at €626.83 per tonne on Friday, up marginally by just €0.16 per tonne from €626.67 per tonne on Thursday.
The Northern European index was up by €8.70 per tonne week on week and by €38.39 per tonne month on month.
Industry sources said they were expecting the uptrend to persist in the upcoming weeks — supported by restocking and limited availability of imports due to safeguards review and pending anti-dumping probe into certain origins.
Notably, the European Commission was expected to complete the steel safeguard measures review by the end of March, with any potential adjustments taking effect the following month.
Meanwhile, in Southern Europe, Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €612.50 per tonne on Friday, stable day on day.
The index was up by €5.42 per tonne week on week and by €30.00 per tonne month on month.
In Italy, most buyers estimated achievable prices at €610 per tonne ex-works on Friday.
Italian producers were offering April-May delivery HRC at €620-640 per tonne delivered, which would net back to €610-630 per tonne ex-works.
Trading was subdued in the nation, with buyers delaying purchases and awaiting more clarity on the steel safeguards measures review.
In the week to Friday, import HRC offers were broadly stable compared with the previous week.
From Asia, offers were reported at €550-580 per tonne CFR to Italy.
From Turkey, offers were reported at €590-600 per tonne CFR to Italy.
Overseas suppliers were offering HRC to Europe with lead times in the second quarter, so importing coil was getting increasingly risky since new safeguard measures were expected to take effect in April.
Unesid calls for protecting steel industry, value chain
Spanish steel association Unesid has urged the European Union to take unified action to secure competitive energy prices, strengthen trade control instruments, and introduce new financing options to ensure the steel sector’s viability.
The association was part of the Ministerial Conference on Steel, organised on Thursday by French industry and energy minister Marc Ferraci and his Italian counterpart, Adolfo Urso, to discuss the future of Europe’s steel industry, Kallanish notes. The Paris meeting received support from Poland, Luxembourg, Slovakia, Greece, Austria, Hungary, Romania, Belgium, and the European Commission.
During the meeting, Unesid president Bernardo Velázquez emphasised the need for a coordinated European response to safeguard the sustainability and competitiveness of the steel sector amid global challenges.
“To ensure the sector’s viability, European governments must work together to establish a commercial and regulatory framework that allows the steel industry to compete on equal terms in the global market,” Velázquez said.
Unesid highlighted key priorities, including accelerating anti-dumping proceedings by allocating more resources to the European Commission. It also stressed the importance of greater control of imports, saying the origin of steel products should be determined based on the “melt and pour” system, which guarantees reliable traceability and avoids the circumvention of trade measures.
Unesid confirmed its support for the Carbon Border Adjustment Mechanism (CBAM), while calling for a compensation mechanism to help European steel exporters offset additional costs from CBAM and the Emissions Trading System (ETS).
The association also stressed the importance of strictly monitoring CBAM to ensure that imported steel meets EU standards, preventing unfair competition and trade circumvention.
Todor Kirkov Bulgaria
Danieli completes Lusosider pickling line upgrade
Brazil-based CSN’s Portuguese subsidiary, Lusosider Aços Planos, has issued the final acceptance certificate to Danieli for the successful commissioning of the new entry section at pickling line No.2 in Aldeia de Paio Pires, the technology supplier tells Kallanish.
“The project consisted of replacing the existing mandrel with a new, tailor-made designed equipment, along with on-site advisory services for erection and commissioning,” Danieli explains.
The contract included an external bearing to limit the current deflection of the mandrel under coil loading and strip tension. “Tests conducted during the commissioning phase showed a precise integration with the pickling line and robust behaviour of the supplied equipment,” the supplier adds.
Complete with main gears and bearings, and equipped with three additional sets of adapters to cover all the internal diameters of the coils, the mandrel is capable of a wide expansion range, from 570mm to 660mm.
Todor Kirkov Bulgaria