Day: 27 January 2026

The tone of European domestic market for steel hot-rolled coil (HRC) continued to strengthen despite cautious demand while competition against imports weakened following the introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM), Fastmarkets heard on Monday January 26.

“End-user demand remains cautious, but expectations for a gradual price increase persist amid CBAM-related uncertainty, encouraging buyers to prioritize European material,” a buyer from the Benelux area said.

A producer from the same region reported that official offers of HRC scheduled for delivery in April were €685 ($803) per tonne ex-works, in line with the market leader.

Nevertheless, estimates of workable prices for April delivery varied within the range of €650-660 per tonne ex-works. This was still up from €640-645 per tonne ex-works heard in recent estimates of workable prices for March-delivery coil that was still available from some suppliers in Northern Europe.

Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was €646.25 ($764.64) per tonne on January 26, up by €3.75 per tonne from €642.50 on January 23.

The index was also up by €5.62 per tonne week on week and by €18.75 per tonne month on month.

In Italy, offers of February- and March-delivery HRC were heard at €650 per tonne ex-works, with some suppliers ready to give concessions down to €630 per tonne ex-works but others remaining firm.

Estimates of workable prices varied within the range of €630-640 per tonne ex-works.

As a result, Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €637.50 per tonne on Monday, up from €635.00 per tonne on Friday.

The index was up by €5.83 per tonne week on week and by €14.38 per tonne month on month.

“Coil prices in Italy have edged upward slightly, supported by limited import competition and a growing shift toward EU suppliers,” one market source said.

Asia-origin HRC was quoted at €610-620 per tonne DDP, while a Turkish HRC offer was heard at €510 per tonne CFR, excluding anti-dumping duty and CBAM-related costs.

“Most service centers remain reluctant to take on CBAM exposure,” the source added, “and prefer prices that fully incorporate these costs.”

Polish domestic rebar and wire rod prices climbed further during the week to Friday January 23 amid growing feedstock costs caused by tighter availability.

Market participants cited increasing scrap and electricity costs as the primary reason for mills’ higher offers, which is a trend common in many European markets.

Harsher-than-normal winter weather is also slowing scrap collection across the region.

“We sold several [scrap] cargoes earlier this month but we cannot deliver them,” one trader said, referring to weather conditions.

Ukraine has also imposed a complete ban on exports of scrap out of the country for 2026, while in 2025 the country delivered around 300,000 tonnes, according to the trader.

In addition, the introduction of the Carbon Border Adjustment Mechanism (CBAM) on January 1, 2026 has caused uncertainty in the import sector, resulting in delays in bookings of import billet and competing import long steel products.

In such conditions, mills in Poland have raised offers for both rebar and wire rod.

Rebar offers were between 2,550 zloty ($716) and 2,700 zloty per tonne CPT, with workable levels estimated at 2,550-2,600 zloty per tonne CPT.

Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Poland was 2,550-2,600 zloty per tonne on Friday, up from 2,480-2,550 zloty per tonne one week prior.

Wire rod offers varied within 2,600-2,700 zloty per tonne delivered, with workable prices said to be within 2,600-2,650 zloty per tonne delivered.

Fastmarkets’ weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 2,600-2,650 zloty per tonne, stable week on week.

While prices were rising on higher feedstock costs, demand was said to be muted due to slower activity at construction sites as well as sufficient customer stocks.

Offers of Italian rebar were heard at €605-610 ($715-721) per tonne CPT in the reported week.

Wire rod of the same origin was offered at €630-640 per tonne CPT.