European coil and green steel round-up: EU HRC prices hold stable, some mills increase offers
Prices for hot-rolled coil in the European Union remained stable in the week to 22 August amid a seasonally slow market, although some steelmakers increased offers.
Bullish market sentiment prevailed among market participants, but they believe that the expected price recovery in September would mainly be driven by upcoming policy changes, including the EU’s safeguard alternative and Carbon Border Adjustment Mechanism (CBAM). The risks related to those changes have made buyers less interested in imports.
“No one is crazy enough to buy import now, except for maybe from Turkey due to shorter lead times and emission certifications. Regardless, the concern of the buyers regarding CBAM and new safeguard grow, and they would rather book from local mills,” a Benelux-based distributor said.
Some buyers have received higher offers for November delivery hot-rolled coil (HRC) from a major European producer at EUR630/t delivered Northwest Europe, up by EUR20/t from the previous offer level. October delivery material from the same supplier has still been available at EUR610/t delivered, in line with official offers from other mills.
Despite higher offers, European steelmakers have been ready to give discounts to fill their order books. They have settled a few deals and given offers to customers at EUR570-580/t ex-works Northwest Europe.
Some mills have also been ready to negotiate prices down for certain specifications.
Steelmakers need to fill their production lines for the fourth quarter, and they might be less bullish in their pricing, sources said.
Significant volumes of imported steel are already on the way to the EU. And the buyers are likely to customs clear those volumes in the fourth quarter this year despite possibly exceeding safeguard quotas in order to avoid CBAM tariffs which will come into force in 2026.
“The pressure on the European mills will stay high, as demand would not improve beyond seasonal fluctuations. And the volumes of import on the way to the EU are significant, and those products were booked at significantly cheaper prices,” a service center said.
Northwest European prices for cold-rolled and hot-dipped galvanized coil have been heard at EUR660-670/t ex-works and EUR670-680/t ex-works, respectively.
Safeguard alternative and CBAM
The European Commission is expected to announce proposals for the steel safeguard replacement next month. Some market participants suggested that the new measures could come into force in January 2026, increased of July of next year – after existing safeguard measures will come to an end.
The possibility of the new measures coming into force in the start of next year has made planning for imports with longer lead times riskier, market sources said.
In addition, CBAM is due to come into force in 2026. But lack of clear regulations available regarding CBAM duty calculations has deterred European buyers from booking overseas material. Some market participants speculated that an absence of final CBAM policies at this time could indicate that the implementation of the measures could be postponed by one year. But a majority of sources argued that such a significant regulation, which is linked to a wider decarbonization policy in the EU, could not be postponed.
Some mills from China have been offering steel to the EU including not only anti-dumping and anti-subsidy duties, but also any possible CBAM tariffs if the material arrives in 2026.
European importers have estimated CBAM duties for imported coil at EUR50-70/t.
Green steel
Trading activity in the green steel segment of the European steel market remained muted due to the seasonal August slowdown. However, some sources reported a growing number of enquiries for low-CO2 material.
But spot buyers have been refusing to accept offered premiums of around EUR200/t, and workable levels in the market remained at EUR70-100/t for European HRC. Some have opted to book mass balanced material as they can pay lower premiums if they do not requite significant CO2 emissions reduction.
Some projects, funded by state authorities in Northwest Europe, however, have been ready to pay the offer premiums.
McCloskey’s reduced carbon marker was calculated at EUR50.15/t on 22 August.
| European coil and green steel prices | Term | Marker | Change |
| Weekly Northwest Europe steel coil | |||
| Northwest Europe ex-works HRC | EX-WORKS | 575 | 0 |
| Northwest Europe ex-works CRC | EX-WORKS | 665 | 0 |
| Northwest Europe ex-works HDG | EX-WORKS | 675 | 5 |
| Weekly South Europe steel coil | |||
| Italy ex-works HRC | EX-WORKS | 540 | 0 |
| South Europe CIF HRC | CIF | 520 | 0 |
| Weekly Green steel | |||
| Green Northwest Europe HRC premium (scopes 1-3 CO2 0.8t) | 80 | 0 | |
| Green Northwest Europe ex-works HRC (scopes 1-3) | EX-WORKS | 655 | 0 |
| Green HRC premium (scopes 1-2 CO2 0.5t) | 80 | 0 | |
| Green Northwest Europe ex-works HRC (scopes 1-2) | EX-WORKS | 655 | 0 |
| Green HRC reduced carbon price (scopes 1-3) | 50.15 | -0.55 |
Maria Tanatar Associate Director, Steel and Green Steel
NORDWEST builds major new logistics hub in Alsfeld
NORDWEST Handel AG has announced the development of a new state-of-the-art logistics centre in Alsfeld, Hesse. Scheduled for completion in early 2026, the site will rank among the largest and most modern central warehouses in the professional trade (PVH) sector.
Covering 68,000 m² of hall space on a total site of 135,000 m², the Alsfeld facility will significantly expand capacity for NORDWEST’s growing European network of affiliated trading partners. Designed as a multi-user warehouse, it will allow wholesalers, manufacturers, and suppliers to outsource logistics functions flexibly and efficiently, including direct-to-customer delivery across Germany and Europe.
The new hub will feature leading-edge automation technologies, including a highly automated small-parts storage system (170,000 bin locations), 50,000 pallet spaces, and advanced solutions for handling bulky goods and hazardous materials. NORDWEST is also investing in next-generation packaging and robotics to ensure efficiency, scalability, and sustainability. The site aims for DGNB Gold certification for sustainable construction.
With capacity to process up to 11,000 cartons and 1,000 pallets per day, the Alsfeld logistics centre will offer NORDWEST partners improved performance, higher product availability, and cost-effective services. Operations will start in phases from 2026, with full commissioning of all automated systems planned for early 2027.
The new logistics hub marks a strategic milestone for NORDWEST, reinforcing its role as a logistics specialist for European trade and industry, and delivering added value through scalability, reliability, and sustainability.
Bandstahl-Service-Hagen and Boecker Stahl-Service – two steel service centers join EUROMETAL as new members
EUROMETAL is pleased to strengthen the network with two well-established German steel service centers, trusted for their commitment to quality, efficiency and individual customer solutions.
Bandstahl-Service-Hagen and Boecker Stahl-Service are part of the worldwide operating Niedax Group. The two Niedax subsidiaries, both based in Germany’s Ruhr area, represent the group’s dedicated steel service division. As independent and long-established steel service centers, Bandstahl-Service Hagen and Boecker Stahl-Service serve a broad customer base across Europe. Their customers represent a broad range of industries, including automotive, construction, electrical, mechanical engineering and industrial manufacturing sectors.
With state-of-the-art production facilities and experienced teams, both companies offer a wide range of services in steel processing. These include precision slitting and cutting of strip steel, efficient warehousing and reliable just-in-time delivery. Thanks to direct access to national and international procurement markets, the centers rank among the most flexible and high-performing service providers in the industry.
By offering CO₂-reduced steel and continuously optimizing supply chain processes, the companies demonstrate their commitment to responsible and forward-looking operations.
No postponement of CBAM: European Commission confirms implementation timeline
EUROMETAL has requested urgent clarification from the European Commission regarding recent press reports and market rumours suggesting a possible postponement of the Carbon Border Adjustment Mechanism (CBAM).
In his official reply to EUROMETAL, Director-General of DG TAXUD, confirmed that the current legislative timeline remains unchanged:
“The date of coming into effect of CBAM on 1 January 2026 is EU Law. It can only change with a legal proposal by the European Commission and the agreement of the European Parliament and the European Council. There is no such proposal on the table.”
The Commission also made clear that it does not comment on rumours circulating in the market.
This clarification confirms that the fiscal phase of CBAM will begin as scheduled on 1 January 2026, in line with the existing regulation.
EUROMETAL will continue to closely monitor CBAM implementation and provide regular updates to its members as official information becomes available.
UK Steel calls for tariff-free deal implementation
Industry association UK Steel has said the UK government needs to implement the tariff-free agreement previously agreed with the US, following a further expansion to the Section 232 steel-derivatives list, Kallanish reports.
Earlier this week, US President Donald Trump expanded his tariffs to cover 407 additional downstream products. These include car parts, machinery, fire extinguishers, plastics and speciality chemicals containing steel or aluminium.
Despite an agreement between the US and UK happening back in May, it has yet to be implemented. UK Steel says the lag leaves domestic exports “at a disadvantage.”
The UK is currently paying a 25% tariff on steel exported to the US, whilst other countries face 50%.
In a statement, the association notes that the new duties will be applied in addition to the country rate on the non-steel and non-aluminium content, 10% in the UK’s case. That means UK exporters could face another significant cost increase when selling into the US.
Peter Brennan, UK Steel’s director of trade and economic policy, comments: “This is another blow to the ecosystem of the UK steel industry as any impact on demand for downstream products will work its way through the supply chain. At a time of weak steel demand generally, this development makes it even more important that the UK government achieves the tariff-free deal it promised for UK steel producers who depend on access to the US market.”
The statement calls for “urgent action” to secure the tariff-free access.
Carrie Bone UK
Liberty Steel official calls SSUK’s compulsory liquidation ‘irrational’
Liberty Steel’s chief transformation officer has described Speciality Steel UK (SSUK) being pushed into compulsory liquidation by the high court in London as “irrational”, Kallanish learns.
Jeffrey Kabel says in a statement that the decision “especially when we have support from the world’s largest asset manager to resume operations and facilitate creditor recovery is irrational.”
The company will now enter administration. It has been placed under the control of special managers appointed by the government’s official receiver.
SSUK previously announced a restructuring in November 2024 and had a winding up petition adjourned in the same month. In May this year, another hearing was adjourned amid a potential sale. The company employs around 1,450 people within the speciality business.
Kabel adds that the plan Liberty’s parent, GFG Alliance, presented to the court “would have secured new investment in the UK steel industry, protecting jobs and establishing a sustainable operational platform under a new governance structure with independent oversight.”
“Instead, liquidation will now impose prolonged uncertainty and significant costs on UK taxpayers for settlements and related expenses, despite the availability of a commercial solution,” he says.
Liberty says it has pursued all options to make SSUK viable, including efficiency improvements, reorganisations and customer support. There have been several attempts to find a buyer for the business and intensive negotiations with creditors to restructure debt liabilities. The company notes that its shareholder has invested nearly £200 million ($268m).
The company says it will now continue to advance its bid for the business in collaboration with prospective debt and equity partners and will present its plan to the official receiver.
“GFG continues to believe it has the ideas, management expertise and commitment to lead SSUK into the future and attract major investment. GFG’s other significant business interests in the UK remain unaffected,” it adds.
In a separate statement, industry association UK Steel says the company provides vital steelmaking capacity in aerospace, defence and power generation. The association welcomes the government’s move.
UK Steel director general Gareth Stace says: “UK Steel welcomes the government’s recognition of the importance of the Liberty Speciality Steel assets and hopes that a new owner is found quickly and can inject the investment and working capital required to return production volumes to previous levels.”
“The assets produce high quality, specialist steels that serve high value markets. The low production levels of recent years have left significant holes in the domestic supply chain that have been filled by imports. We hope to see these holes quickly filled by UK-made steel,” he adds.
Carrie Bone UK
Eurofer: EU-US trade framework leaves steel exposed
European steel association Eurofer warns that the new EU-US trade framework leaves EU steel exports highly vulnerable, as the 50% US tariff on around 4 million tonnes of steel will remain in place until a binding agreement is finalised.
Director general Axel Eggert says the vague wording of the deal risks long delays. Eggert urges the European Commission to introduce in September a strong new trade defence measure in line with the EU Steel Action Plan. He stressed that immediate action is needed to restore preferential access for traditional EU steel exports to the US, Kallanish notes.
“Work must start immediately to get back to preferential access for traditional EU steel volumes to the US as no deadline is set and we already see the huge delay, for instance, in the implementation of the US-UK deal,” Eggert explains.
Eurofer highlights that higher tariffs endanger steel-intensive EU exports such as vehicles and machinery and could wipe out longstanding EU steel trade with the US. Since 2018, the European steel sector has lost around 30mt of demand due to global overcapacity, US Section 232 tariffs, and weaker EU demand, with the latest additional US tariffs of 25% in March and 50% in June worsening the situation.
The joint EU-US statement on Thursday confirms the 28 July deal between President Donald Trump and European Commission President Ursula von der Leyen. The framework includes a 15% tariff on most EU products but a 50% tariff on EU steel, aluminium and derivatives, with the possibility of moving toward a tariff-rate quota (TRQ) system. Both sides pledged to cooperate on shielding their markets from global steel overcapacity whilst ensuring secure bilateral supply chains.
2025.08.21 EUROFER press release US-EU framework
Elina Virchenko Ukraine
German rebar players shore up prices via surcharges
Following an increase in the cost of size extras on rebar products, German observers say that such surcharges are an attempt to end the lull of market prices in which some mills cannot be profitable.
The deterioration of base prices found a rest at around €350/tonne ($407/t) by July, and has since remained at around that mark, with only little success for mills to charge much more.
For the first time in ten years, two rebar mills in Germany and Austria recently announced an increase of their size extras that are the fixed price component, in combination with a base price that is subject to the market.
The previous size extra for the standard thickness of 12mm was €265/t. This would bring the low end of the final delivered price to €615/t. In the new lists, that surcharge is now €280/t, making a delivered price of €630/t.
The size extras vary by thickness from €270/t for 22mm to as much as €350/t for 6mm.
According to a buyer in central Germany, the new pricing brings a shift in the ratio, bringing the extras for bar and coil now closer, but could not explain the logic behind such a move.
A manager at a distributor in eastern Germany agrees that the system of size extras is not necessarily understood at distributors. He sees the adjustment of size extras as a tool to bring up the final delivered prices somewhat.
“Mills are having a hard time bringing up the base price, there is too much competition from imports,” one manager tells Kallanish. “So now they try to support prices via the size extras.”
Downstream, too, benders are banking more on surcharges to break even, the manager says. Benders are charging extra for some services, for example for stirrup bending or for “positioning” – labelling bars according to the position in the construction – he explains. “The competition among benders for construction jobs is fierce, he notes. Via the surcharges, they have some way of making the €70/t on top of the steel intake price they need to break even, he says.
Christian Koehl Germany
European HRC market remains muted as holidays continue, sellers optimistic
Nevertheless, local producers were optimistic about the post-summer uptick in prices amid uncertainty over future regulation on imports.
The most recent offers for material scheduled for delivery in October from mills in the Northern European region varied mainly within the range of €590-610 per tonne ex-works ($686-710), while workable levels were said to vary within the range of €560-580 per tonne exw, depending on volume and supplier.
Fastmarkets’ calculation of the daily steel HRC index, domestic, exw Northern Europe, was €573.75 ($667.34) per tonne on August 22, unchanged day-on-day.
The Italian market continues snoozing due to the ongoing Ferragosto period; therefore, no fresh bookings were heard, with estimates of workable price varying within the range of €540-545 per tonne exw.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €540.83 per tonne on Friday, stable day on day.
Italian mills’ price targets for October tonnages are voiced at €570-580 per tonne exw, while some producers from Northern Europe also reported intentions to increase offers further after the summer break.
Mills’ optimism stems from expectations of lower import volumes in the fourth quarter of 2025 because delivery and custom clearance of these volumes will take place at the beginning of 2026 when the Carbon Border Adjustment Mechanism (CBAM) will come into force, while steel delivered prior to this date may be subject to stricter safeguard measures.
Central Europe
Central European HRC prices rose in the week to Wednesday August 20, despite slow demand from buyers, market sources told Fastmarkets.
According to sources, mills are “pushing for higher prices” following months of muted market growth.
This week, market sources assessed the workable market for domestic HRC at €550-570 per tonne ex-works, compared with €545-565 per tonne ex-works during the previous assessment period.
However, suppliers are finding resistance from buyers, with a distributor source saying that Europe needs to “make a turn” to reverse the “low demand” that has been observed in key segments of the market over recent months.
“The automotive industry is not buying [HRC], instead they are reducing volumes because of high energy costs, while the Asian market remains more competitive,” the source said.
The source also stated that the introduction of the Carbon Border Adjustment Mechanism (CBAM) in January 2026 could also have an effect on the market.
“The CBAM is also going to increase prices, but it’s not going to help the industry because costs will also go up as a result of the duty,” they said.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, domestic, exw Central Europe, was €550-570 per tonne on Wednesday, rising from €545-565 per tonne the previous week.
Green steel premiums flat in Europe, demand muted as buyers await regulatory boost
Green flats
Fastmarkets’ methodology defines European green flat steel as “steel produced with Scope 1, 2 or 3 emissions at a maximum of 0.8 tonnes of CO2 per tonne of steel.”
Such steel was on offer at a minimum price of €200 per tonne ($233) among the European mills. However, some suppliers indicated that, on large volumes, €150-180 per tonne was achievable.
Buyers estimated tradable values for green flat products with such specs at €100-120 per tonne and even below €100 per tonne in some cases, citing insufficient demand.
One supplier source said categorically that such low levels, notably below €100 per tonne, were impossible for physically produced green steel due to high costs of production.
“We don’t have many suppliers in the EU who can offer such steel [with emissions below 800 kg per 1 tonne of steel] without mass-balancing. And we have to pay for green electricity for Environmental Product Declarations – there has to be a premium to compensate for that,” a mill source said.
Another supplier confirmed that demand for green steel has recently been more concentrated in Nordic countries, with the Germany and Benelux area “catching up.”
“Green steel demand should be generated through public procurement – and we mainly see that in Scandinavia so far,” a second mill source in Europe said.
Fastmarkets’ assessment of the green steel domestic, flat-rolled, differential to HRC index, exw Northern Europe was €120-170 per tonne on Thursday, unchanged week on week.
Green longs
In the long steel segment, it remains traditionally more difficult for producers to push through premiums among customers, owing to the initially more environmentally friendly nature of production.
Most mills are equipped with electric-arc furnaces (EAFs), which give a maximum of 0.8 tonnes of CO2 emissions per tonne of steel under their standard Environmental Product Declaration (EPD).
Following the improvement of EPD, mills in Europe can provide material with CO2 emissions varying within the range of around 0.2-0.4 tonnes of CO2 per tonne of steel.
Some mills, however, have initial EPDs of 0.35-0.45 tonnes of CO2 per tonne of steel, while customers – mainly located in the countries of Northern Europe such as the Netherlands, Finland, Norway and Denmark – have asked for long steel with an EPD of 0.35-0.5 tonnes CO2 per tonne of steel in their recent tenders, a seller source told Fastmarkets.
Fastmarkets’ methodology defines European green long steel as “steel produced with Scope 1, 2 or 3 emissions at a maximum of 0.5 tonne of CO2 per tonne of steel.”
Green longs premium offers heard in the week to August 20 varied within the range of €30-40 per tonne, according to several sellers.
Nevertheless, in actual deals it is difficult to get even €20 per tonne, one of them said, adding that in most cases no premium is charged.
They added, however, that emission requirements set by customers cut off any material produced outside Europe because mills overseas have not reached EPDs equal to those in Europe.
Fastmarkets’ assessment for the green steel, differential to steel reinforcing bar (rebar), domestic, delivered Northern Europe was €20-30 per tonne on August 20, stable week on week.