Sentiment remains cautious in European domestic HRC market
The market is also digesting news about leaked preliminary default values and benchmarks under the carbon border adjustment mechanism (CBAM), which is expected to come into effect on January 1, 2026 and affect the final cost of imported steel products.
In Northern Europe, market participants estimated workable prices for January-delivery coil mainly at €610-620 ($702.20-713.70) per tonne ex-works, with some bookings done within that range.
At the same time, mills’ targets remained at €620-650 per tonne ex-works.
One buyer source mentioned €630 per tonne ex-works as possible in the near term, but this level has not been widely seen in deals yet.
Fastmarkets’ daily steel HRC index, domestic, exw Northern Europe was €615 per tonne on Monday, up by €2.20 per tonne from €612.08 per tonne on November 21.
The index was up by €2.50 per tonne week on week and by €14.20 per tonne month on month.
The buyer noted that traders dealing with imported material may book now but hold stock in anticipation of better prices in 2026, which could give local mills an opportunity to push through further price increases.
Traders have increasingly stepped in to offer DDP-based import deals, taking on the associated risks on the seller’s side, but buyers remain cautious.
Asia-origin HRC scheduled for delivery in April was said to be available at €595 per tonne DDP Maastricht.
In Italy, January-delivery offer prices varied within €600-620 per tonne ex-works, depending on the producer.
Estimates of workable prices still did not exceed €600 per tonne ex-works.
Fastmarkets’ daily steel HRC index, domestic, exw Italy was calculated at €603.75 per tonne on Monday, up by €1.87 per tonne from €601.88 per tonne on Friday.
The index was up by €3.75 per tonne week on week and by €13.75 per tonne month on month.
Tata Netherlands shifts eastbound transports to trains
Tata Steel Nederland says it is replacing a significant portion of road and water transport with rail freight, particularly for deliveries to customers in southern Poland and Slovakia.
This means a shift for about 160,000 tonnes/year of steel that used to be shipped by truck and vessel to nearby ports, followed by approximately 600km of road transport. For destinations in eastern Europe, three trains loaded with steel coils will now depart every two weeks.
In the Netherlands and Germany, these trains run on “green” electricity, Kallanish learns. The CO₂ savings result from intensive cooperation with around 50 customers, including major automotive brands as well as clients in engineering, construction and packaging sectors, Tata notes. The new rail route eliminates 3.5 million road km annually and achieves a substantial CO₂ reduction of around 4,300 tonnes/year, it adds.
According to logistics director Martin van der Meer, train transport also saves packaging materials, as the steel no longer requires seaworthy protection. “And it is faster – within 30 hours, the steel reaches the customer,” he concludes.
Christian Koehl Germany
Italian rebar prices tick up
Italian rebar transaction prices are starting to edge higher, not because of stronger consumption but due to material shortages, Kallanish notes.
These shortages come from recent production cuts which steelmakers often implement to balance demand and supply, and the early-November fire at Ferriere Nord’s Osoppo plant, which will remain idle for the entire month.
Buyers report difficulties sourcing certain dimensions as well as delivery delays from Ferriere Nord. A mill source says order intake has strengthened as a result of the disruptions.
Producers are now seeking €320-330/tonne ($371.36-382.96/t) base ex-works, having accepted around €300/t until last week. Tightening availability has since made mills less flexible on pricing.
Transaction levels so far this month stand at €290-300/t base ex-works, with sellers expecting further increases in the coming days. One buyer notes that December will effectively be a half month due to the holiday period. Mills are expected to announce additional increases in December, as they usually do before the holiday shutdown.
Including size extras of €260-270/t, effective rebar transaction prices currently sit at €550-560/t ex-works. Mesh prices are also rising, with base levels at €390-400/t plus roughly €300/t in extras, while producers are targeting around €430/t base ex-works.
Natalia Capra France
EU coil buyers left scratching heads over CBAM
European coil and semi-finished steel importers are waiting for clarification of the CBAM parameters outlined in the leaked European Commission document circulating the market last week, they tell Kallanish.
As the calculation criteria stand, sources say it remains difficult to determine the real cost of importing, particularly because the figures currently available are default values.
If importers can demonstrate actual values, those should apply instead, one source notes.
Another market participant estimates that CBAM costs for material from “virtuous” or relatively low-emission producers could range between €30-60/tonne, depending on the source. Large buyers are now working closely with their third-country suppliers, effectively “training” them on how to report every element of their production process. Asian mills must provide responsible, and above all verifiable, data for all production phases, starting with energy use and energy type.
CBAM rules require at least one physical plant inspection per year by an accredited expert to verify the accuracy of the reported information. Industry discussions also indicate that virtual tours may be added on top of physical audits.
On the risk of false declarations, a coil buyer says it is in suppliers’ interest to report accurate information, as many elements can be easily checked. Several Asian suppliers intend to remain active in Europe, and misreporting would quickly damage their reputation and market share.
Some countries are expected to face substantial CBAM charges, particularly India, where coal-based primary steelmaking is widespread. Using default values for some origins, including India, will result in punishing costs, meaning it is preferable suppliers submit accurate data.
Another coil buyer notes that CBAM effectively acts as an additional duty, adding further complexity to imports. However, the strongest barrier to overseas supply remains the EU’s quota system. A trading company says: “We are operating in fog”.
CBAM parameters and calculation values remain unclear, and the list of accredited inspectors who will verify suppliers’ emissions has yet to be released. Buyers report confusion and a reluctance to commit to new bookings. The European market is quiet, and with sufficient steel availability, there is little urgency to purchase.
A widespread concern is that quotas under the new safeguard measure, whose implementation date is still to be determined, could be exhausted within hours, with Asian suppliers prioritising large buyers who have been long-standing customers.
The average price of hot rolled coil in Europe is at €600-630/tonne base delivered, sources suggest.
The European Commission’s long-awaited draft CBAM benchmark values were provided in two columns, A for use when applying the actual emissions intensity data provided and verified by a non-EU steelmaker, and B for use with default values when actual data is not available.
Natalia Capra France
ArcelorMittal halts Spain steel powder project
ArcelorMittal Powders, the steelmaker’s unit producing high-quality steel powders for multiple additive manufacturing technologies, tells Kallanish it is halting activity.
“The company, which began operations in November 2023, has stopped its activities after the deadlines for the start of production were not met for technical reasons,” ArcelorMittal states.
The company will assess the impact of the decision taken with the representation of the 15 employees working at the new industrial plant in Avilés, Spain.
In the first week of November, ArcelorMittal Powders obtained environmental approval for the new industrial plant. The project involved installing an EAF plant and a high-pressure gas atomiser, which was to produce powders from steel scrap and use renewable energy. It was to have a large production capacity for batches of 200kg to 3 tonnes and an initial annual capacity of 1,800 tonnes/year.
ArcelorMittal’s so-called AdamIQ brand included 316L, 430L and 17-4PH stainless steel, tool steels (H11, H13, M300) and low alloy steels. Products were planned to be supplied to the aerospace, military, automotive, medical, and energy sectors.
Todor Kirkov Bulgaria
European Staal becomes a member of EUROMETAL
European Staal is headquartered in the Netherlands and managers subsidiaries across Belgium, Germany, Austria, Slovenia, France and the Czech Republic. The Austrian subdivision, established in 1789 as S. Ehrenletzberger Eisenwarenhandlung in Linz, is the company’s longest-operating location.
The company offers a wide product range including hot-rolled and forged bars in carbon and alloy steel with diameters up to 800 mm. Its portfolio also includes structural shapes, rebars, flat products as well as stainless steel and aluminum.
Beyond distribution, European Staal provides various services including cutting, drilling, bending, welding, sandblasting and laser processing. With integrated warehousing, optimized logistics and consignment stock solutions European Staal ensures reliable supply and full traceability of all materials. Through its facilities in Western and Central Europe the group combines technical expertise with customer-focused service.
Joining EUROMETAL marks another step in European Staal’s continued commitment to strengthening collaboration, sharing expertise and driving progress within the European steel distribution sector.
Discover more: europeanstaal.eu
EU: No tariff agreement expected in the first trade talks with the US
U.S. and European Union officials are continuing preparations for the first round of trade negotiations, but the Brussels side has stated that an agreement on reducing tariffs on steel and other products is unlikely at this stage.
The European Union has emphasized that the priority of this visit—considered the starting point of critical contacts—will be to conduct a comprehensive assessment of the current situation.
EU Commissioner for Trade and Economic Security Maros Sefcovic said in a briefing with journalists ahead of the talks, “The main agenda of the first meeting will be reviewing the current state of play between the two sides.”
U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, who will arrive in Brussels this week, will be holding their first talks in the EU since the trade agreement signed between the two sides in July. Under that agreement, the U.S. imposed a 15% tariff on many EU-origin products, while the EU pledged to remove tariffs on certain agricultural and food products, as well as some U.S. industrial goods. Both sides also agreed to continue working toward reducing tariffs on EU steel and aluminum.
Lutnick and Greer will meet with EU trade ministers at a working lunch in Brussels to discuss the implementation of the agreement. Sefcovic noted that the meeting would also include “a political assessment of EU-U.S. bilateral relations.”
EU officials are expected to raise concerns particularly about Washington’s decision to expand the 50% tariff applied to aluminum and steel. Washington, on the other hand, argues that Brussels has been slow in implementing its commitments because the agreement has not yet been formally approved by the European Parliament. The U.S. administration is also continuing to press the EU to soften obligations related to its digital and environmental regulations.
Source: Bloomberg
French steelmaker unveils Solterra modular solar structure
The French steel producer Manorga, which entered the solar energy sector about two years ago, has developed a new-generation solar power plant structure that can be dismantled and reassembled without harming the land.
The company designed this steel structure, named Solterra, specifically for ground-mounted solar power plants, targeting projects that require temporary use or fully reversible installations. The Solterra system consists of completely removable and modular components. It can be installed on site without the need for large-scale construction work and can be just as easily dismantled and reassembled in another location. This provides a significant advantage for short-term projects, temporarily allocated lands, or sites whose intended use may change in the future.
Manufactured from the company’s proprietary steel, the structure offers high resistance to outdoor conditions and mechanical stresses. Thanks to this material, the risk of deformation or damage remains minimal even after repeated assembly and disassembly cycles, making the system suitable for multiple installation rounds.
Solterra’s modular infrastructure has been engineered to adapt to various ground types. The system is compatible with pile, concrete foundation, or ballasted anchoring methods. This allows the same structure to be reused across sites with different geographical or surface characteristics.
Manorga designed Solterra to minimize on-site intervention time. Most components undergo pre-manufacturing at the factory and can be quickly assembled on site using standardized parts. This significantly reduces both labor costs and installation time.
The company emphasizes that Solterra is particularly suitable for developing plots, regions intended for temporary use, or land without long-term designated purpose. Thanks to its “non-intrusive removable” structure, no permanent alteration is made to the land; once the system is dismantled, the site can easily revert to its original function.
Approval has been granted for SSAB’s new electric arc furnace facility in Luleå
The Swedish Land and Environment Court of Appeal has issued its decision approving SSAB’s permit to build and operate a new steel plant in Luled. With this ruling, the legal uncertainties surrounding the construction of the electric arc furnace (EAF) facility-set to replace the company’s existing blast-furnace-based production site-have now been resolved.
In December 2024, SSAB received approval for the new facility from the Land and Environment Court at the Umeå District Court. The permit allowed the company to secure its long-term competitiveness and reduce carbon dioxide emissions from production by up to 90%. However, the decision was appealed, and the case was brought before the Land and Environment Court of Appeal.
The Court of Appeal reviewed the parties’ written submissions, issued its ruling, and upheld the original decision. This has cleared the way for SSAB to continue its work on the new facility without interruption, following the activation of part A of the permit in June. A formal groundbreaking ceremony was held in Luleå on 17 September, with Swedish Minister for Energy, Business and Industry Ebba Busch in attendance.
Carl Orrling, SSAB’s President, Chief Technology Officer and Head of the Transformation Office, welcomed the court’s decision, stating: “We are pleased that the Court of Appeal has addressed the unresolved issues relating to the permit for our new steel plant in Luleå. Eliminating this uncertainty provides clarity and stability for our transformation process. The new facility will offer a stronger cost position, a more attractive product range of premium steels, and greater flexibility to manage fluctuations in demand. Once we shut down the existing production, we will virtually eliminate carbon emissions from Luleå.”
In its ruling, the court also emphasized that the site is appropriate for the facility and that electric arc furnaces meet the criteria for “best available technology.” It further noted that emissions monitoring will not be left solely to the supervisory authority but will instead be regulated in detail under the permit. This framework defines not the method of monitoring, but the scope under which it is included in the permit.
Sara Arvidson, SSAB’s Head of Environment and Energy, said the decision gives the project additional momentum: “We are very pleased that the Court of Appeal has approved our permit and that the transformation project can proceed as planned. After commissioning, certain reviews will be carried out during a trial period. We will now continue our work to meet the specified conditions and ensure that the project is implemented responsibly.”