European long steel market struggles to gain traction amid limited demand
European domestic rebar and wire rod prices remained largely unchanged in the week to Wednesday October 29, with limited demand restricting mills’ attempts to increase prices.
Producers in Italy were said to be withdrawing offers from the market in attempt to get higher prices by the end of the year.
“The situation here in Italy is rather complex. As of October 27, almost all producers have suspended sales. The goal appears to be to bring the base price for bars up to €300 per tonne ex-works (equivalent to €565-570 per tonne ex-works for an effective price),” one buyer said.
“This move is driven by balance sheet requirements: producers need to quickly bring quotes back to the levels seen at the end of 2024 to avoid reporting losses greater than expected. The 2024 financial statements already showed that all producers closed the year at a loss, and 2025 does not look promising,” the buyer added.
In Italy like in many European countries the effective price consists of base price, which is fluctuating and extras, which change rarely and are publicly available. Average extras for 8-40 mm diameter, 12 meter long steel bars assessed by Fastmarkets vary within the range of €265-270 per tonne.
The buyer reported booking a cargo of rebar at €280 per tonne ex-works base, which is equivalent to €545-550 per tonne ex-works effective, before mills quit the market.
One of the major producers in the country confirmed that mills are trying to raise prices but sees the level of €300 per tonne ex-works base as a far away possibility.
The producer assessed workable effective prices within the range of €530-550 per tonne ex-works.
Consequently, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, exw Italy narrowed upward to €530-550 per tonne on October 29, from €520-550 per tonne on October 22.
Fastmarkets’ corresponding price assessment for steel reinforcing bar (rebar) domestic, delivered Spain rose slightly to €640-645 per tonne on October 29, versus €635-640 per tonne on October 22.
Northern European mills also found it hard to increase prices.
A steelmaker from Germany reported intentions to increase base price to €360 per tonne delivered (€625-630 per tonne delivered effective for 8-32 mm diameter, 12 meter long bars), but this was not widely accepted by customers, and thus €350 per tonne base (€620-625 per tonne effective) remained workable.
In France, Switzerland and Austria, Italian rebar was heard available at €595-600 per tonne delivered.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, delivered Northern Europe widened to €595-625 per tonne on October 29, from €600-620 per tonne on October 22.
Wire rod in Northern Europe remained stable within the range of €570-590 per tonne delivered, which was also reflected in Fastmarkets’ weekly price assessment for steel wire rod (mesh quality) domestic, delivered Northern Europe, unchanged week on week.
Meanwhile, Fastmarkets price assessment for steel wire rod (mesh quality) domestic, delivered Southern Europe was €560-570 per tonne on October 29, widening down from €570 per tonne delivered on October 22.
EU green steel trading subdued, premiums stable; sector prepares for CBAM rollout
The European green steel market remained quiet during the week to Thursday October 30. Buyers negotiated purchases for next year and volumes remain steady, Fastmarkets heard.
Green flats
Trading remained muted in the European green steel market, with stakeholders said to be focusing on broader challenges, including Carbon Border Adjustment Mechanism (CBAM) and new trade measures.
Several big buyers who spoke to Fastmarkes confirmed that they were negotiating flat green steel bookings with European mills for 2026, with the intention to keep purchased tonnages in line with 2025 volumes.
“We won’t increase [green steel tonnages], the market is unlikely to grow much next year,” a steel service center told Fastmarkets.
Another buyer told Fastmarkets they were looking to book 10,000-15,000 tonnes of green steel in 2026, in line with 2025 volumes.
Under Fastmarkets’ methodology, European green flat steel is defined as material produced with Scope 1, 2 and 3 greenhouse gas (GHG) emissions capped at a maximum of 0.8 tonnes of CO₂ per tonne of steel produced.
Sources agreed that prices varied widely because transactions are largely project-based.
“Nobody buys [green steel] back-to-back; it’s project business only,” a buyer in Northern Europe said.
European mills were offering green steel premiums starting around €200 per tonne, with some aiming for €210–300 per tonne, although achievable transaction levels were lower in practice.
Buyer sources indicated that achievable premiums for green flat steel generally ranged between €100 and €150 per tonne, with larger-volume transactions typically concluded at €120–150 per tonne. Mill representatives, however, pointed to a slightly higher range of €150–180 per tonne.
Fastmarkets’ weekly assessment of the green steel domestic, flat-rolled, differential to the HRC index, ex-works Northern Europe was stable at €100-170 per tonne on Thursday, unchanged since September 11.
Green longs
In the long steel segment, it remains harder for producers to push through premiums among customers, owing to the initially more environmentally friendly nature of production.
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 Thursday varied within the range of €15-50 per tonne, according to several sellers.
Demand remained subdued, but supplier sources expect that after CBAM implementation, demand for green steel in Europe will increase.
The same sources noted that demand for green longs was mainly coming from private projects.
But other sources argued that public construction projects, especially in Nordic states, were procuring green steel.
“There are requirements regarding carbon emissions per square meter in some countries, and these regulations push construction companies to procure green steel,” a trading source said.
Requirements for carbon emissions per square meter vary by jurisdiction and building type, but often set maximum limits on a building’s life-cycle or operational emissions. For example, in Denmark, new buildings larger than 1,000 square meters must comply with a life-cycle climate-impact threshold of 12 kg CO2-equivalent per square meter per year since 2023.
Meanwhile, in France, the regulation RE2020 demands new residential and tertiary buildings to meet life-cycle carbon limits (embodied and operational). For single-family housing, for instance, the embodied-carbon benchmark is 640 kg CO per square meter for 2022, reduced to 415 kg CO2 per square meter by 2031.
Vlada Novokreshchenova in Dnipro contributed to this report
EU HRC prices flat; sentiment firm on CBAM, trade measures impact
The European hot-rolled coil market was quiet on Thursday October 30, with only sporadic activity reported lately. Prices held steady but still below the target offers, sources told Fastmarkets.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was €603.75 ($702.24) per tonne on Thursday, stable day on day.
The index was up by €3.75 per tonne week on week and by €26.25 per tonne month on month.
Italian HRC was offered in Germany at €640-650 per tonne delivered for January delivery. Coil with December lead times was largely sold out, with some “leftover volumes” offered at €620 per tonne delivered.
Integrated mills in Germany and the Benelux area were aiming for €620-650 per tonne ex-works for January delivery coil.
The new levels have not been gradually accepted in deals yet, but customers admit that eventually this will become the reality, considering the significant cuts expected in import volumes as a result of the introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM), as well as a new system that will replace the current safeguards.
Although deals were sporadic at €610–620 per tonne ex-works, overall market sentiment remained upbeat.
“Trading is not booming exactly, but we have more inquiries and sell some minor volumes,” a mill source in Northern Europe said.
“Buyers hold back, but we are not in a hurry — we closed 2025 volumes already and can wait. In the first quarter of 2026, [HRC] prices will be higher — but mainly due to CBAM and safeguards impact, demand won’t improve,” a mill source in Germany said.
Buyers’ idea of an achievable price for January was reported at €600-620 per tonne ex-works.
Some buyer sources estimated the market lower — at €580-590 per tonne ex-works, but the majority of sources agreed that prices below €600 per tonne ex-works were “in the past.”
Fastmarkets’ corresponding daily steel hot-rolled coil index domestic, exw Italy was calculated at €593.33 per tonne on Thursday, down by €0.05 per tonne from €593.38 per tonne on Wednesday October 29.
The Italian index was up by €3.33 per tonne week on week and by €43.33 per tonne month on month.
Italian suppliers said they were achieving €590-600 per tonne ex-works in deals for December delivery of HRC.
One integrated mill in the nation was looking to achieve around €630 per tonne delivered (about €610-615 per tonne ex-works) for January delivery HRC.
An European mill offered January delivery HRC at €680 per tonne delivered to local steel-service centers.
Buyers put their price idea at €580-600 per tonne ex-works, with little rush to restock.
In the secondary market, a 4 mm HR sheet was trading around €660-680 per tonne CPT —compared with around €630-650 per tonne CPT at the beginning of October.
The imported coil market in Italy remained quiet in anticipation of the new safeguards’ announcement and persistent uncertainty over the CBAM. No fresh offers were reported on Thursday.
Fastmarkets’ weekly assessment for steel hot-rolled coil import, cfr main port Southern Europe was set at €470-520 per tonne on Wednesday, narrowing from €465-520 per tonne seven days ago.
The price didn’t include CBAM costs.
The lower end of the range reflected offers from Indonesia, while the upper end reflected offers from Turkey and Saudi Arabia.
Metinvest to acquire ArcelorMittal Tubular Products Iasi
Metinvest plans to acquire full control over ArcelorMittal Tubular Products Iasi S.A. (AMTP Iasi) in Romania, according to a European Commission notification dated 29 October.
Under the proposed deal, Metinvest, a vertically integrated mining and steel group controlled by Ukrainian businessman Rinat Akhmetov and Smart Steel Limited (Cyprus), will purchase all shares of AMTP Iasi, a Romanian producer of small welded carbon steel tubes currently controlled by ArcelorMittal S.A. (Luxembourg).
Neither Metinvest nor ArcelorMittal responded to request for comment on Wednesday.
ArcelorMittal Tubular Products Iasi, part of the ArcelorMittal Sustainable Solutions segment, decommissioned its pipe mill #2 (R220) in July 2024, according to ArcelorMittal’s 2024 annual report.
Metinvest is looking to expand its production capabilities in the EU, which include Promet Steel in Bulgaria, and Trametal and Ferriera Valsider in Italy. The Ukrainian firm recently confirmed to Kallanish its interest in acquiring troubled Romanian steelmaker Liberty Galati. It is also building a low-emission flat steel joint venture plant with Danieli in Piombino, Italy.
Elina Virchenko UAE
Italian rebar makers lift prices
Italian rebar producers are targeting a €40/tonne ($46/t) increase for November contracts, citing unsustainable current price levels and the need to restore margins.
The move follows a successful mid-October price increase which pushed transactions to the level of €250/t base ex-works. Transaction prices are largely unchanged this week compared to last week. Market participants report no significant supply shortages, though one mill has limited availability across certain dimensions, Kallanish hears.
Buying levels are reported this week at €250-260/t base ex-works, depending on order volumes. For November, producers are pushing for €290-300/t base ex-works, depending on supplier. Including size extras of €260-270/t, effective transaction prices currently stand at €520-530/t ex-works.
In parallel, producers are also seeking to lift mesh base prices to €390-400/t for November. Mesh prices remain stable week-on-week at around €360/t base ex-works, excluding an additional €300/t in size extras.
Natalia Capra France
EU Steel Distribution activity stabilized, confidence in a sustained recovery remains weak
The latest European Federation of Steel, Tubes and Metals Distribution & Trade (EUROMETAL) Market Sentiment Survey for October 2025 reveals a cautious mood among European steel distributors.
While current market activity appears to have stabilized after months of decline, confidence in a sustained recovery remains weak. The industry continues to face fragile demand, low visibility, and defensive strategies heading into the final quarter of the year.
The assessment of current business activity held steady in October, marking the second consecutive month without further deterioration. Although activity remains slightly below neutral, this stability suggests that the market may have reached its lowest point following the sharp decline over the summer.
Outlook for Q4 turns slightly weaker
Expectations for the next quarter slipped modestly, reversing the cautious optimism recorded in September. The softening sentiment indicates continued uncertainty over demand and economic headwinds across major EU markets, with distributors maintaining a wait-and-see approach.
Inventory outlooks remain largely unchanged, with most distributors pursuing defensive stock strategies and expecting stable volumes. However, price expectations rose for the third consecutive month, showing the strongest positive reading since early spring 2025.
This trend suggests that distributors anticipate moderate price increases in the coming months, potentially reflecting tightening supply and restocking cycles in Q4.
Industry remains cautious despite improving price sentiment
The October survey highlights a sector in holding pattern, where stability in operations contrasts with subdued forward confidence. Although sentiment on pricing is improving, distributors remain wary amid weak demand fundamentals and limited visibility for recovery.
According to EUROMETAL, the continuation of this cautious optimism could mark the first stage of market consolidation – but only if underlying demand begins to recover in late 2025.
