European CRC, HDG prices hold in quiet market; rumored AD probe likely to curb appetite for Asian CRC
Meanwhile, a rumored multi-country anti-dumping investigation into cold-rolled coil is expected to curb appetite for imports further.
Trade regulations affect demand for imports
Demand for imported steel had already been curbed due to the expected implementation of the EU’s Carbon Border Adjustment Mechanism (CBAM) in 2026 and new steel safeguard measures, Fastmarkets reported previously.
“We expect revisions of safeguard mechanisms as we approach the end of September, which will generate more movement in the market by late October or early November,” one source told Fastmarkets.
Several sources familiar with the matter also told Fastmarkets that the European Commission will open a new anti-dumping (AD) investigation into steel cold-rolled coil imports from India, Turkey, Japan and Taiwan.
The complaint was reportedly lodged by European steel association Eurofer on behalf of European steel mills at the end of August, with the official investigation expected to be begin in September.
Eurofer declined to comment when contacted by Fastmarkets.
“We never comment on trade cases – potential or ongoing,” the spokesperson said.
The Commission did not return Fastmarkets’ request for comment by the time of publication.
Sources expect that with the AD investigation in place, buying appetite for CRC imports will be even lower and therefore a stronger reliance on European CRC could support domestic prices in the long run.
A similar AD case was launched by the Commission against hot-rolled coil originating in Egypt, India, Japan and Vietnam in August 2024.
Provisional duties were implemented in April 2025, with final rates expected to be published in September.
Northern Europe
Domestic CRC prices in Northern Europe narrowed upward slightly during the week to Wednesday, but were still below target offers, according to market sources.
Offers were heard hovering around €660-700 ($703.34-745.96) per tonne ex-works this week. But sources argued that the lower end of the range was no longer offered by integrated suppliers.
Deals were reported at €670-680 per tonne ex-works during the week.
Fastmarkets’ weekly price assessment for steel CRC, domestic, exw Northern Europe was €670-685 per tonne on Wednesday, narrowing upward by €10 from €660-685 per tonne the previous week.
Import prices for CRC also rose during the assessment week, with higher offers from Taiwan heard at €650-660 per tonne CFR on Wednesday, while offers from Turkey were reported in the range of €620-630 per tonne CFR.
Fastmarkets’ weekly price assessment for steel CRC, import, cfr main port Northern Europe was €620-650 per tonne on Wednesday, widening upward by €20 from €620-630 per tonne the previous week.
Both domestic and import prices for hot-dipped galvanized (HDG) coil remained stable this week, according to market sources.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe was €670-690 per tonne on Wednesday, unchanged week on week.
Local mills unsuccessfully tried to push offers to €700 per tonne ex-works and above, but demand was not supportive of such rises.
Italian HDG was offered to Germany at €700-730 per tonne delivered.
But buyers ‘estimations of achievable species did not exceed €670-690 per tonne ex-works.
Sources also mentioned muted demand from core industries such as the automotive sector, among other factors limiting price growth.
For imported HDG, market sources estimated the workable market at €690-700 per tonne CFR, in line with previously reported prices.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Northern Europe remained €690-700 per tonne on Wednesday.
Southern Europe
Domestic CRC prices also inched up slightly in Southern Europe, according to sources.
This week, market participants estimated the workable market for CRC at around €640-650 per tonne ex-works, compared with prices of around €630-650 per tonne during the summer period.
Target offers remain higher at €690-700 per tonne ex-works in Italy and Spain, but no trades were reported.
Fastmarkets’ weekly price assessment for steel CRC, domestic, exw Southern Europe was €640-650 per tonne on Wednesday, narrowing upward by €10 from €630-650 per tonne the previous week.
Meanwhile, CRC import prices were stable this week, with offers heard hovering at €610-650 per tonne CFR on Wednesday, stable with offers seen in the previous assessment period.
Higher-end offers were still coming from Taiwan at €650 per tonne CFR, while lower-end offers at €610 per tonne CFR are coming from Vietnam.
Fastmarkets’ weekly price assessment for steel CRC, import, cfr main port Southern Europe was €610-650 per tonne on Wednesday, unchanged week on week.
Domestic HDG prices in Southern Europe also moved up slightly this week, mirroring trends in the CRC and HRC markets.
Market participants estimated the workable market for HDG at €650-670 per tonne ex-works in Italy and Spain on Wednesday, compared with €650-660 per tonne ex-works during the previous assessment period.
Offers were heard at €685-700 per tonne ex-works on Wednesday.
As a result, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Southern Europe was €650-685 per tonne on Wednesday, widening upward by €25 from €650-660 per tonne the previous week.
Regarding imports, sources estimated the workable market for HDG in Southern Europe around €700 per tonne CFR on Wednesday, compared with €660-690 per tonne CFR during the previous assessment period.
Firm offers were rare, with many suppliers having exceed their third-quarter allocations quickly and a similar situation expected for the fourth quarter, Fastmakrets reported. As well, Asian suppliers were offering late arrival – potentially in 2026 – which would mean facing CBAM risks.
One offer was reported from Vietnam for 0.58mm HDG with Z140 coating at €810 per tonne CFR to Southern Europe, Fastmarkets heard. Bids for such material were heard lower by €30-40 per tonne at €770-780 per tonne CFR. The price was not included in the final range due to being out of Fastmarkets’ specifications.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Southern Europe was €690-700 per tonne on Wednesday, up €10-30 rising from €660-690 per tonne the previous week.
Northern Italian rebar prices under pressure, domestic market widens downward
Fastmarkets’ weekly price assessment for domestic steel reinforcing bar (rebar), ex-works Italy, widened downward to €550-620 per tonne on Wednesday September 10, compared with €560-620 per tonne on September 3.
One trader said that rebar prices in Northern Italy were under further pressure this week.
“Demand remains low, and some producers are pushing to sell, offering low prices,” the same trader added.
Meanwhile, other market participants noted greater stability at the upper end of Fastmarkets’ assessed range, with prices in southern Italy said to be fairly stable.
However, continuing market uncertainty and a widespread wait-and-see stance among participants continued to limit trading activity.
In Spain, prices remained stable.
Fastmarkets’ price assessment for steel reinforcing bar (rebar) domestic, delivered Spain was €640-645 per tonne on September 10, unchanged week on week.
And, in Northern Europe, prices were under slight downward pressure.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, delivered Northern Europe was €625-640 per tonne on September 10, widening downward by €5 per tonne from €630-640 per tonne on September 3.
Market activity in the region has been slow to pick up after the summer holiday period, with market participants adopting wait-and-see attitudes, sources said.
Demand for green steel remains niche across Europe, premiums soften
Fastmarkets’ assessment of the green steel domestic, flat-rolled, differential to HRC index, exw Northern Europe was €100-170 per tonne on Thursday, widening downward from €120-170 per tonne seven days ago.
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.”
Premiums for such steel were set at a minimum price of €200 ($233) per tonne among European mills, with some offers reported as high as €300 per tonne in the Nordics.
Buyers estimated achievable prices much lower, at €100-130 per tonne, adding that mills were willing to grant discounts for volumes above 2,000 tonnes.
Suppliers estimated achievable prices higher at €150-170 per tonne.
One mill reported a bid for 25 tonnes of green steel at €70 per tonne, but said it was rejected.
“Some bids we receive are ridiculously low. Green steel production is expensive, and we can’t sell [steel] produced with emissions below 800 kg per tonne at such a price,” the mill source said.
At the same time, mill sources confirmed that demand for green steel was very niche, and the number of inquiries they were receiving had declined in the past few weeks.
“Buyers say they have other issues on the table to deal with: CBAM, safeguards 2.0, poor demand, bad economy etc, etc, etc,” a second mill source said.
A buyer in Germany confirmed that they were holding back on new purchases of green steel due to subdued demand.
In contrast, a source in Norway claimed that local companies were procuring green steel for public projects, although they admitted that volumes remained limited.
Meanwhile, Fastmarkets’ assessment of the flat steel reduced carbon emissions differential, exw Northern Europe was also unchanged week on week at €40-60 per tonne on Thursday.
For steel produced in blast furnaces with reduced carbon emissions of 1.4-1.8 tonnes of CO2 per tonne of steel, offers for premiums were reported at €60-70 per tonne during the assessment week.
Buyers’ estimates of tradable prices were around €20-50 per tonne, with most of the estimations reported at €50 per tonne.