European stainless coil prices decline
The European stainless flat steel market is experiencing a difficult period characterised by sluggish order intake and a downward trend in coil prices, according to stainless processors and service centres.
Several mills in Europe have reduced their prices for May delivery by approximately €20-30/tonne ($22-34), with order books remaining under pressure. A stainless steel producer is reportedly implementing a gradual weekly price reduction, with expectations for this trend to continue. The coil price increases in March did not yield the desired results, as buyers, facing market uncertainty and diminished demand, opted to reduce purchases, Kallanish notes.
Coil supply exceeds demand in Europe. According to one source, last year saw a supply and demand equilibrium, as both Acerinox and Outokumpu halted production amid social unrest.
A service centre in Italy reports its clients are engaging in minimal purchasing activity and continue to execute low-volume transactions, frequently on a back-to-back basis. Service centres are also buying limited quantities to address inventory gaps.
Multiple processors indicate first-quarter sales volumes align with those of Q1 2024; however, margins are experiencing pressure and, in some cases, are falling below cost. Efforts to raise sheet prices have encountered difficulties, with values remaining largely stable in the range of €2,550-2,620/t ex-works, contingent upon volumes and client specifications.
April and May are projected to experience a slowdown, attributed to the Easter holiday and multiple bank holidays in May, particularly in France. A service centre in northern Europe confirms the market is slow in Italy, France, and Germany, and there is no appetite for risk or speculation. The company is focusing on diversification, trying to stay away from commodity products where competition is tough and prices are under pressure.
European mills are quoting €2,450/t for stainless cold rolled coil for May delivery, inclusive of delivery costs. Hot rolled coil prices range from €130-150/t lower, based on volume.
Italian stainless flats prices remain subdued, at approximately €50/t lower than the broader European market. CRC pricing in Italy is at €2,380-2,400/t delivered. HRC in Europe stands at approximately €2,170-2,200/t delivered.
According to Italian steel trade association Assofermet’s April market note, demand for flat and long stainless steel products remains subdued in the country. Nonetheless, a potential rebalancing between supply and demand is anticipated for April. Increased focus on inventory management may limit price declines and help maintain margins.
German mills welcome incoming government’s strategy
German steel federation WV Stahl has welcomed in principle the signing of the “Coalition Contract” between the coalition partners forming the future German government. The association emphasises power prices and the associated grid fees are the top issue the new government must address.
The coalition of the conservative CDU party, social democrat SPD party, and the Green Party presented the agreement last week, outlining the issues it plans to tackle. Among the pledges is the reduction of power prices and grid fees.
This is a step in the right direction, but measures are needed to tackle basic market prices, which are too high in Germany to be internationally competitive. “What we need is a dedicated industry power price we can rely on,” Kallanish reads in the federation’s statement. It points to France and Italy as the models for this.
Another point of the Contract is that the parties intend to keep pushing the promotion of hydrogen. “We are especially pleased with the openness for a variety of hydrogen colours,” says WV Stahl managing director Kerstin Maria Rippel.
The coalition also pledges to promote the continuation of EU safeguard measures, which are imperative considering that one third of the steel used in the EU comes from third countries. Related to that, the federation hails the Contract’s clear message to protect from imports by means of the Carbon Border Adjustment Mechanism (CBAM). This needs to be widened to the larger value chain, as was worded in the EU’s Steel and Metals Action plan, Rippel notes.
WV Stahl furthermore underlines the coalition’s decision to consider steel scrap in the Contract, to facilitate the domestic supply of this important feedstock.
Last but not least, the statement addresses Germany’s Special Fund for Infrastructure that was announced a week earlier. WV Stahl warns that the money must be spent with a focus on strengthening domestic industry, and that the government needs to push ahead with creating lead markets for CO2-reduced products.
75 Jahre EUROMETAL: Die Zukunft der Stahldistribution im Fokus
EUROMETAL, die führende Stimme der europäischen Stahldistribution, feiert in diesem Jahr ihr 75-jähriges Bestehen mit einer hochkarätigen Konferenz in Luxemburg.
Unter dem Motto „Driving the Future of European Steel Distribution“ bringt die Veranstaltung am 2. und 3. Juli 2025 Entscheidungsträger und Expert*innen aus ganz Europa zusammen, um über die Zukunft der Branche zu diskutieren.
Die Jubiläumskonferenz bietet eine einmalige Gelegenheit, mit führenden Vertreter*innen aus den Bereichen Flachstahl-Servicezentren, Stahlhandel und Stahlvertrieb in den Dialog zu treten. Im Fokus stehen aktuelle Markttrends, politische Rahmenbedingungen, Innovationen entlang der Lieferkette sowie die künftige Rolle Europas in der globalen Stahlindustrie.
Was bietet die Veranstaltung?
- Exklusive Einblicke: Hochkarätige Keynotes von Branchenführern und internationalen Organisationen
- Vernetzung: Treffen Sie zentrale Akteure der europäischen und globalen Stahlwirtschaft
- Wissenstransfer: Diskutieren Sie über nachhaltige Strategien und digitale Transformation
- Feierlicher Anlass: Seien Sie Teil des 75-jährigen Jubiläums von EUROMETAL – einem Meilenstein für die Branche
Bestätigte Speaker:
- Henrik Adam – Tata Steel
- Guido Kerkhoff – Klöckner & Co
- Antonio Marcegaglia – Marcegaglia
- Anthony de Carvalho – OECD
- Axel Eggert – EUROFER
- Edwin Basson – World Steel Association
- Julian Verden – Stemcor
- Cosmin Bakai – Autoliv
- Alexander Julius – EUROMETAL
Jetzt anmelden und dabei sein, wenn Europas Stahlbranche die nächsten 75 Jahre in den Blick nimmt.
Mehr Informationen und Registrierung sind hier zu finden.
Polish rebar prices rise amid pick-up in domestic demand, with imports limited by weaker zloty
Most Polish mills were aiming to sell May production rebar at 2,700 zloty ($703) per tonne CPT, with only one small supplier heard offering the material at 2,600 zloty per tonne CPT, sources said.
The offers from the small supplier were not considered as indicative of the wider market because it does not provide a full range of rebar specifications, but it still had some impact on the Polish market, Fastmarkets understands.
Most market participants estimated the tradable market level at 2,650-2,700 zloty per tonne CPT.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Poland was 2,600-2,700 zloty per tonne on Friday, up by 70 zloty per tonne from 2,600-2,630 zloty per tonne on April 4.
“Demand looks much better now compared with two weeks ago,” a distributor source told Fastmarkets, adding that the improvement was due to seasonal factors.
Germany, which until recently was actively exporting rebar to Poland has now halted shipments to focus on its own domestic market.
One leading German rebar supplier has yet to resume operations since stopping production in December.
And a second German rebar producer, whose main production capacities are located close to the Rhine river, has reduced its output due to struggling to secure scrap supplies because transportation costs have increased due to low water levels in the river, sources told Fastmarkets.
The weak Polish zloty has also made imports more expensive. According to the OANDA currency converter, €1 was worth 4.25 Polish zloty on April 11. In comparison, on March 11, €1 was equivalent to 4.19 Polish zloty.
“A rebar price at 2,700 zloty per tonne CPT is not that high, considering the current exchange rate. Mills could easily sell at this level amid the uncertainty related to the exchange rate and limited supplies from Germany to Poland,” a producer source told Fastmarkets.
The source said that Poland was now exporting rebar to Germany.
In terms of other imports, a Lithuanian distributor was rumored to have purchased 35,000 tonnes of rebar from Turkey and is now offering the volumes to Poland at €610 ($661) per tonne DAP, Fastmarkets understands. However, the transaction could not be widely confirmed by the time of publication.
Rebar from Ukraine was on offer to Poland at €575-580 per tonne delivered on the border.
Wire rod
Polish domestic prices for low-carbon drawing-quality wire rod also increased slightly in the week to Friday, sources told Fastmarkets, with Polish mills offering the material at 2,850-2.950 zloty per tonne CPT.
Sources estimated the tradable market level at 2,770-2,850 zloty per tonne CPT.
Fastmarkets’ price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 2,770-2,850 zloty per tonne on Friday, up by 20 zloty per tonne from 2,750-2,850 zloty per tonne on April 4.
European HRC prices stable amid cautiously positive sentiment
Transaction prices, however, remained below the targeted offer levels by producers, Fastmarkets understands.
German mills continued offering June-July delivery HRC at €670 ($743) per tonne ex-works.
A major Benelux-based mill was aiming for €670-680 per tonne ex-works for coil with June-July lead times, industry sources told Fastmarkets.
A leading integrated European steelmaker was still offering HRC at €700 per tonne ex-works or delivered, depending on location.
Italy-origin coil was heard offered to Germany at €680 per tonne delivered.
Buyer sources, however, estimated the tradeable market price at €640-660 per tonne ex-works.
Some low-tannage deals were reported at €650-660 per tonne delivered Germany, Fastmarkets understands.
“No trading is happening anywhere near €700 [per tonne for HRC],” a Benelux-based buyer source told Fastmarkets.
“Current momentum in the HRC market is not demand-driven. But the situation with imports and limited supply at some mills in the second quarter supported domestic prices,” a second buyer source based in Germany said.
As a result, Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at €654.38 per tonne on Friday, down marginally by €0.20 per tonne from €654.58 per tonne on Thursday April 10.
The Northern European index was up by €2.55 per tonne week on week and by €18.55 per tonne month on month.
Meanwhile, in Southern Europe, Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €631.67 per tonne on Friday, up by €0.42 per tonne from €631.25 per tonne on Thursday.
The index was up by €4.17 per tonne week on week and by €11.67 per tonne month on month.
Domestic HRC prices in Italy have not show the same growth momentum as in Northern Europe recently. Sources said this was mainly due to muted downstream demand and buyers’ higher inventory levels.
The latest domestic offers for HRC with delivery in four to five weeks were heard at €660-670 per tonne delivered, equivalent to €650-660 per tonne ex-works.
An integrated European mill was still offering June-delivery HRC in the Italian market at €680-700 per tonne delivered, Fastmarkets understands.
However, no major transactions were heard in the Italian market, with most buyers estimating the tradable market level at €620-630 per tonne ex-works.
The market for imported HRC remained largely quiet with no fresh offers or deals heard in the market.
Thyssenkrupp may sell distribution arm, sources say
Earlier this week, international media reported Thyssenkrupp’s intention to sell its distribution arm, Thyssenkrupp Material Services, as a part of a major restructuring effort intended to increase efficiency by divesting less profitable parts of the company.
“Our goal is to transform Thyssenkrupp into a high-performance and sustainable company with a portfolio of sectors geared to profitable growth,” the company’s spokesperson told Fastmarkets on April 11. “We want every single Thyssenkrupp business to develop in the best possible way and to achieve a sustainable competitive position.
“The declared aim is to generate a permanently positive value and cash flow contribution for the group, and a reliable dividend payment to our shareholders,” the spokesperson added.
“We will continue to pursue our strategy, with a focus on the separation of the Steel and Marine divisions. The primary aim for all sectors is to increase growth and performance. This may include growth through partnerships and portfolio activities, provided this makes sense strategically and technologically,” the spokesperson said.
In August 2024, the company sold a 20% share in its steel business to a Czech private energy company, and was discussing the sale of a further 30% stake.
Thyssenkrupp Materials Services is the group’s trading arm, offering a wide range of processing and logistics services, and employing around 16,000 people. In the fiscal year 2023/24, Thyssenkrupp Materials Services’ adjusted earnings before interest and taxes (EBIT) was €204 million ($231 million). The division’s sales for the same period were €12.1 billion.
By 2030, Thyssenkrupp, which is the largest steelmaker in Germany, intends to cut steel output by 2.5 million tonnes per year, with 11,000 jobs likely to be eliminated by the fundamental changes taking place across the European steel market.
Thyssenkrupp is currently building a 2.5 million tpy DRI module in Duisburg that was expected to have capacity for around 5 million tpy of low-CO2 steel by 2030.
In March 2025, Thyssenkrupp put on hold a hydrogen tender for its green steel plant due to elevated prices, but said that it was still committed to the Duisburg site’s green transformation.
Crisis in European steel market
According to the Organization for Economic Co-operation & Development (OECD), the nominal crude steelmaking capacity in Europe is well over 200 million tonnes per year, but actual output volumes have been lagging far behind that in recent years.
In 2022, crude steel production across Europe amounted to 136.30 million tonnes, down from 152.60 million tonnes in 2021, according to data from the World Steel Association (worldsteel). The decline was due to massive output cuts that were implemented by European mills in the third and fourth quarters of 2022, due to deteriorating demand and falling steel prices.
In 2024, steel output rebounded slightly to 129.5 million tonnes compared with 126.3 million tonnes in 2023, according to worldsteel. But the total volume was still below the 159.4 million tonnes recorded pre-Covid in 2019.
Steel production in Germany amounted to 37.23 million tonnes in 2024, up by 5.2% from 35.4 million tonnes in 2023.
But despite that slight rebound, steel production in Germany remained lower, and has been below 40 million tonnes for three years in a row, German steel federation WV Stahl said.
Earlier this week, Dutch steelmaker Tata Steel Nederlands (TSN) added to the problems in the European steel sector when it announced plans to undergo a large-scale transformation that will lead to the loss of about 1,600 jobs at its IJmuiden facility.
In March this year, the European Commission presented a Steel and Metals Action Plan to support the struggling industry, but it remained to be seen how the plan will be implemented and what results it will bring.
So far, the European Commission has focuses on tightening trade policies to protect the local market from unfair imports.
On April 1, the Commission introduced new, tighter, steel safeguard measures to support the domestic steel sector.
And from April 7, the EU has imposed anti-dumping duties on imports of hot-rolled coil from Egypt, Vietnam and Japan.
Europe’s steel sector was still at the heart of several regional economies, with approximately 500 production sites across 22 EU member states, the Commission said. According to EU data, the European steel sector contributes around €80 billion to the bloc’s gross domestic product and supports more than 2.5 million jobs.