Danieli takes stake in Novastilmec
Danieli has acquired a 30% stake in Novastilmec, an Italian supplier of high-performing processing lines for steel and non-ferrous metals, Kallanish notes.
This will allow Garbagnate Monastero-based Novastilmec to expand business volume, and Danieli to expand its product range of downstream finishing technology, Danieli says.
The firms aim to increase sales to downstream service centres worldwide, offering a larger range of slitting and cut-to-length lines.
In its fiscal year through June 2024, Danieli’s plant making division experienced revenue growth of 17% year-on-year to €3 billion, with Ebitda up 25% to €315 million. Together with Metinvest, the firm is building a €2.5 billion flat steel plant in Piombino, Italy.
Adam Smith Austria
European HRC prices steady amid muted trading; mills keep pushing for higher offers
In Northern Europe, target offers for HRC with delivery in October were looming at €590-610 ($689-712) per tonne ex-works, but no transactions at the mentioned levels have been reported so far.
On August 19 several sources told Fastmarkets that a leading European steelmaker increased HRC prices for the third time over the past month, up by €20 per tonne to €630 per tonne ex-works or delivered for November lead times. But the mentioned steelmaker didn’t return Fastmarkets’ request for comment before publication.
“Most likely they booked their capacity [for September-October] and pushed for higher prices on the last bits,” a source familiar with the matter suggested.
Nonetheless, German and Benelux suppliers managed to achieve higher prices in transaction during August, with the market rebounding from the rock bottom levels registered in July.
Notably, buyers’ estimations of tradeable values were reported at €560-580 per tonne ex-works, with transactions reported within the mentioned range lately.
Some sources claimed that €550 per tonne ex-works was still achievable for large tonnages at some suppliers.
“Producers managed to recover some €20-30 per tonne from rock bottom prices, which is a positive sign, but the increase is not driven by improved demand — rather some precautions due to expectedly lower imports,” a buyer in Germany said. “New import offers for delivery in the first quarter of 2026 will fall under CBAM [Carbon Border Adjustment Mechanism], and uncertainty also surrounds the early replacement of safeguard measures.”
Additionally, the European Commission ended its consultation on future trade measures to replace steel safeguards on Monday August 18, with most submissions from European companies and associations supporting long-term measures based on tariff-rate quotas (TRQs), Fastmarkets understands.
“This entire bullishness of the EU mills is fueled by expectations of much lower imports as of 2026,” a trading source said.
Sources claimed that this regulatory ambiguity was curbing buyers’ appetite for imports and, therefore, driving interest for domestically produced coil.
Fastmarkets’ calculation of the daily steel hot-rolled coil index domestic, exw Northern Europe was €571.25 per tonne on August 19, down by €3.96 per tonne from €575.21 per tonne on August 18.
The Northern European index was up by €0.24 per tonne week on week and up by €19.58 per tonne month on month.
Meanwhile, the Italian market was still in “holiday mode” with most sources still absent.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was €537.50 per tonne on Tuesday, stable day on day.
The Italian index was down by €2.50 per tonne week on week, but up by €12.50 per tonne month on month.
European Commission consultation on steel trade measures finds local industry favors TRQs
The Commission launched the consultation on trade measures on July 18 to address the negative trade-related effects of global excess capacity on the EU steel sector.
The consultation attracted 143 submissions, with the great majority from European companies and associations supporting long-term measures based on tariff-rate quotas (TRQs), Fastmarkets understands.
Several comments received in feedback have been published on the Commission’s website.
“The [European Steel Processors Association] believes that a well-calibrated TRQ system, combined with robust anti-circumvention measures and traceability protocols, offers the most effective solution,” ESPA (Belgium) said in its response.
“A new trade measure in the form of TRQs would not necessarily introduce new or additional administrative burden for downstream users following 8 years of safeguard TRQs,” European steel industry association Eurofer said in its feedback.
Regional steel associations including UNESID, Italy’s Federacciai, German steel association WV Stahl and Polish Steel association HIPH also supported TRQ measures.
European steelmakers SSAB, Hydnum, Arvedi, Dillinger, Celsa, ArcelorMittal, Tata Steel and others also spoke in favor of TRQ-based measures.
ArcelorMittal and Tata Steel also both advocated for a 50% tariff on out-of-quota steel deliveries, matching the current steel tariffs imposed by the US.
Switzerland-based companies, including Swiss Steel Holding (Swiss Steel Group) (Switzerland), supported the measures, but urged the Commission to exclude Swiss companies from the scope of new measures due to their “deep integration into European value chains.”
By contrast, non-EU stakeholders raised concerns.
The government of Japan urged the EU to “cautiously consider the consistency of the measure with the international disciplines, including the [World Trade Organization] Agreement.”
South Korea’s Posco International warned that “abrupt introduction of TRQs or additional duties may adversely affect steel procurement processes and impede major projects,” and recommended implementation only after the current safeguard measures expire in mid-2026.
The Commission was expected to propose long-term TRQ-based measures in the third quarter of 2025, to replacing the current safeguards from July 1, 2026, and to provide equivalent protection against global overcapacity.
Trade sources that spoke to Fastmarkets believed that the new measures would most likely come into force sooner than July 2026, with one mill source saying: “The idea is for the new measures to be implemented as of January 2026.”
Trump administration adds to Section 232 steel-derivatives list
The US has identified more downstream manufactured products that will be subject to Section 232 tariffs on imports of steel or aluminium derivative goods, Kallanish learns from the Federal Register.
Effective Monday, the US Department of Commerce added 407 codes to the Harmonized Tariff Schedule of the US (HTSUS) list of derivative products. The steel and aluminium portions are subject to the Section 232 tariff rate, whilst the non-steel and non-aluminium content will be subject to a reciprocal tariff rate. The steel content in the imports will be charged a 50% tariff.
US domestic steel interests applaud the development by President Donald Trump’s administration.
“The Steel Manufacturers Association (SMA) congratulates President Trump and the Department of Commerce on a robust inclusions process identifying additional steel-containing products to be covered by the steel tariffs,” SMA president Philip K. Bell comments in a statement Monday. “The steel tariffs are necessary for the national security that a strong steel industry provides.”
Ohio-based steelmaker Cleveland-Cliffs notes the inclusion of electrical steel laminations and cores, as well as certain stainless steel automotive exhaust parts to the list of derivative products.
“Cleveland-Cliffs thanks President Donald Trump and Secretary of Commerce Howard Lutnick for taking decisive and concrete action that will deter tariff circumvention occurring in plain sight with stainless and electrical steel derivative products,” Cliffs president and chief executive Lourenco Goncalves says in a press release. “Since we acquired AK Steel Corporation a few years ago, we have identified and denounced circumvention schemes through Mexico and Canada involving derivative products using steel melted and poured outside of North America. This practice, which has been accepted and supported by both Canada and Mexico — despite its inherent conflict with the original intent of the USMCA trade agreement — has ultimately turned into a blatant tariff evasion subterfuge.”
The Cliffs ceo adds that the new measures provide certainty that the American domestic market will not be undercut by unfairly traded steel within the derivative products. This allows the company to continue investment in its stainless steel and electrical steel operations.
The American Iron and Steel Association (AISI) also credits the Trump administration’s efforts, emphasising military readiness.
“A healthy domestic steel industry is vital to our national defence,” states AISI president and chief executive Kevin Dempsey. “The Section 232 program recognises that steel is essential for military equipment, critical infrastructure and emergency response needs. Strengthening these tariffs helps ensure that America is not reliant on foreign imports in times of national security threats and crises.”
Six months ago, the Trump administration began compiling derivative steel items to add to Section 232 tariffs because of increased imports of certain articles that depressed demand for goods produced by domestic steel mills. Examples include welded angles, shapes and sections of iron or steel; bridges and bridge sections of iron or steel; grill, netting and fencing of iron or steel wire; parts for agricultural, horticultural or forestry machinery; modular building units of steel, and prefabricated buildings.
John Isaacson USA
CBAM autumn pricing influence questionable, says consultant
The assumption that the Carbon Border Adjustment Mechanism (CBAM) will deter importers from buying overseas, leading to a European domestic price recovery, could be overstated, warns German consultant Andreas Schneider.
“The EU’s increasingly protectionist course is likely to lead to lower imports in conjunction with CBAM,” he concedes. But “how quickly and to what extent this will be felt on the market is difficult to predict.”
The overall picture is made up of international price discrepancies, exchange rates, demand in the EU and other EU import duties or quantity restrictions, he finds.
“Recent weeks in particular have shown that even high EU import duties can be at least partially offset by favourable exchange rates and significant price advantages offered by third-country suppliers,” he argues. He also warns that imports could be ordered in excess of actual demand in the short term, to avoid CBAM costs. “It is therefore difficult to predict the extent to which CBAM will divert some of the demand for imports to EU plants,” he notes.
On the European domestic coil market, mills have hiked prices twice in quick succession, aiming to prepare the market for higher transaction prices. Hot rolled coil deal values have since inched above the bottom line of €550/tonne ($642) ex-works, but remained way below the €600/t envisaged by some mills.
According to a Dutch observer, prices for hot-dip galvanised coil are also showing a slight increase, with the level now at around €655/t ex-works for delivery in September to October.
Paid prices could even be higher, for HDG as well as for cold rolled coil, a German buyer says. He finds the two are nearly identical in price these days. “While were are used to price gaps of €10-20 [between CRC and HDG], you will hardly see one at the moment,” he tells Kallanish.
A Scandinavian source notes he has not bought HDG lately, but supplies projects with larger volumes of CRC, for which he pays less than a premium of €100/t on top of HRC.
An Austrian manager also sees CRC values being lower than HDG, but adds he generally dismisses discussion about fluctuations in the CRC/HDG premium. “This is just very relative, subject to the mill’s respective energy cost structure at a given moment,” he asserts.
“I deal with mills that have kept their premium differentials for years,” he states, adding the price relativity is often just a matter of how suppliers define their bases. “Some mills have an €80 premium for CRC and ask for €30 more for HDG. Others charge €100+ for CRC, and ask for €10 more for HDG. In both cases, you end up with €110,” he notes.
Christian Koehl Germany
German steel industry is calling for comprehensive EU trade measures to address global overcapacity
The alliance comprises the chambers of Ostbrandenburg, Saarland, Braunschweig, Potsdam, Osnabrück–Emsland–Grafschaft Bentheim, Ostthüringen zu Gera, and Niederrheinische IHK Duisburg-Wesel-Kleve, collectively representing all steel-producing regions across Germany.
In its statement, the alliance affirmed its commitment to ensuring that steel production takes place under fair and comparable competitive conditions, free from unfair advantages derived from low environmental and safety standards or harmful subsidies. The European steel industry plays a critical role in industrial value chains and employment, supporting thousands of direct jobs and millions more indirectly. The alliance emphasized that Europe’s ecological transformation depends on a stable and fair market environment that enables long-term investments. The steel sector has significant potential to reduce CO₂ emissions, and its expertise can be exported to support decarbonisation processes globally.
According to the CCI-Steel Alliance, protecting the European steel industry from unfair global competition is not only an economic necessity but also a strategic imperative for Europe’s autonomy and green transition. The European steel sector is under unprecedented pressure, especially due to overcapacity originating from Asia. This has triggered a surge in low-cost imports, threatening the viability of domestic production. In regions with high steel output, this has translated into lower capacity utilization, declining competitiveness, and stagnation in green technology investments.
The alliance stressed the need for an effective trade defense mechanism to enhance the resilience of EU steel production and processing facilities against unfair practices. Proposed measures include the consistent penalization of unfair competition, the implementation of a Tariff Quota Regime (TQR), comprehensive quota setting for all steel products and countries of origin, and the introduction of additional duties for volumes exceeding quotas. Other key recommendations include the adoption of a “Melted & Poured” origin rule for greater transparency, the creation of a crisis mechanism to respond to short-term supply or demand shocks, quarterly quota allocations, and annual reviews.
Furthermore, the alliance urged the extension of protective measures to steel-intensive downstream sectors and called for the swift implementation of the European Commission’s Steel and Metals Action Plan. Additional recommendations include the formation of an EU-US “Metals Alliance,” improvements to the Carbon Border Adjustment Mechanism (CBAM), securing competitive energy prices and critical raw materials, and strengthening the Global Forum on Steel Excess Capacity (GFSEC). The alliance also underlined the strategic importance of steel for Europe’s autonomy, defense, and security.
The CCI-Steel Alliance expressed concern that the EU’s current trade defense instruments are insufficient. Unchecked global overcapacity continues to increase import pressure – particularly from Asia – while high U.S. tariffs are further exacerbating the situation. The alliance called on the EU to establish a robust and forward-looking trade defense tool, including strict import limits and clearly defined sanctions such as additional duties when quotas are exceeded.
The statement concluded by stressing that a strong domestic steel industry is essential to Europe’s strategic autonomy. Germany is the largest steel producer in the EU and ranks seventh globally. The sector directly employs over 80,000 people in Germany, while approximately 4 million workers are employed in steel-intensive industries. The steel industry also plays a systemic role in industrial resilience and defense and provides valuable training opportunities for young people.
To conclude, the alliance highlighted that low-emission steel is a key enabler of the green transition, with strategic relevance across sectors ranging from wind turbines to electric vehicles. A strong and sustainable European steel supply will reduce dependence on carbon-intensive imports and contribute to global decarbonisation efforts. The alliance reiterated its call for a comprehensive EU trade defense tool to safeguard Europe’s strategic autonomy, competitiveness, and green transformation goals.
Sudden tariff crisis on UK steel imports: Producers prepare lawsuit
The British Government’s sudden introduction of tariffs on imports of crude steel from Asia has triggered a major crisis in the sector. The Confederation of British Metalforming (CBM) emphasized that producers are facing high costs and delivery delays, and are preparing to file a lawsuit against the government.
Trade Secretary Jonathan Reynolds decided during the summer to reduce the amount of steel that could be imported duty-free from Vietnam and South Korea. Although the measure aimed to protect domestic producers from cheap imports, the fact that the sector was informed only 24 hours in advance sparked strong criticism.
The new regulation imposed a 25% customs duty on shipments that had already been paid for, leaving thousands of tons of steel waiting at UK ports. The CBM described the situation as a “tsunami of problems, with rising costs and logistical issues.”
According to The Guardian, Paul Whitehouse, Managing Director of Steel & Alloy Gonvarri Industries near Birmingham, stated that the additional tariffs would cost his company more than GBP 500,000: “We operate on very small margins. In a sector where profits are at 1-2%, this additional burden is a heavy blow.”
The measure came at a time when major producers like Tata Steel and British Steel were already facing difficulties. The sector was already searching for new markets due to a decrease in demand from the automotive and construction industries.
While the government defends its decision by saying it was based on the recommendations of the Trade Remedies Authority (TRA), the CBM has expressed that the policy was harsher than anticipated. The TRA had recommended that the duty-free import quota be limited to 40%, but Reynolds immediately implemented the decision and reduced the quota to 15%.
Stephen Morley, President of the CBM, stated that the accumulation of steel at the ports has led to additional costs and logistical bottlenecks, creating a “domino effect.”
Industry representatives support protecting domestic production but emphasized that the sudden implementation of the policy has put firms in an even more difficult position. It has been reported that CBM members have begun raising funds for a judicial review of the decision.