Quiet trading keeps European domestic steel HRC prices flat
European domestic prices for steel hot-rolled coil (HRC) were largely stable on Monday January 19 with trading activity remaining muted.
Mills continued to seek higher prices for material with delivery from March onward amid the uncertainty in the import sector caused by the introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM).
Suppliers in Northern Europe were offering March-delivery coil at €650-670 per tonne ex-works with some business said to be done at €630-645 per tonne ex-works.
Meanwhile, material for April delivery was offered at €670 per tonne ex-works and higher, but these prices have so far failed to gain traction with customers.
A seller from the Benelux region reported sales of April-delivery cargoes at €640 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was €640.63 per tonne ($745.67) per tonne on January 19, up by €0.13 per tonne from €640.50 per tonne on January 16.
The index was also up by €5.00 per tonne week on week and by €16.88 per tonne month on month.
Italian producers were also hoping for higher prices with offers of March delivery coil within the range of €640-650 per tonne ex-works.
Workable prices so far have not exceeded €635 per tonne ex-works, according to market sources.
Service centres were said to have sufficient stocks built from domestic and import bookings made previously, with demand currently coming mainly from pipe makers.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €631.67 per tonne on Monday, up by just €0.42 per tonne day on day.
The index was also up by €4.17 per tonne week on week and by €17.92 per tonne month on month.
ArcelorMittal increases coil offers in Europe
ArcelorMittal increased its offer prices for steel coil in Europe on 20 January, according to trading sources.
The new target prices across Europe for April shipment hot-rolled coil (HRC) are EUR700/t delivered, for cold-rolled coil (CRC) – EUR830/t delivered and for hot-dipped galvanized coil (HDG) – EUR820/t delivered. These are around EUR30-40/t higher than the previous official rise announced in the middle of December 2025.
European coil prices have started to recover from the middle of January supported by the Carbon Border Adjustment Mechanism (CBAM) which came into force this year, seasonal demand recovery and an anticipated reduction in import quotas in the second half of 2026.
McCloskey’s weekly assessment for domestic HRC prices in Northwest Europe was EUR635/t ex-works on 16 January, up EUR15/t on the week.
The introduction of CBAM has made imports riskier as buyers face substantial duties based on default values unless the exporters can verify their actual emissions. This has made buyers either turn to European mills or to book from big trading companies on a DDP basis, making prices higher.
Most market participants anticipate that prices will continue to rise as the market share of European mills will expand due to the impact of CBAM and trade measures.
The CRC segment is expected to be particularly impacted by the new regulations, as European buyers have been mainly relying on imports for supply of commodity grade material. European mills have preferred to trade either HRC and HDG due to higher costs and lower prices for CRC.
ArcelorMittal’s new CRC offer price is slightly higher than that for HDG, reflecting a shift in the market. Traditionally HDG has traded at a premium to CRC.
The anticipated decision in the EU’s anti-dumping probe started in September against CRC imports from Japan, Turkey, Vietnam and Taiwan, China is expected to support the change in the market.
