European steel HRC markets quiet with little urgency in trade as Easter holidays approach

Trading was still subdued in European domestic markets for steel hot-rolled coil on Monday March 30 with neither sellers nor buyers under pressure to book new volumes.

Mills were said to have almost sold out their material scheduled for delivery in May, and to be well booked for June deliveries. Meanwhile, buyers preferred to avoid overstocking in the current uncertain market conditions and with Easter holidays approaching.

A market source from Northern Europe reported that, in the sheet steel sector, there was still a lot of May-delivery material available for sale, which was affecting coil business.

Offers of May- and June-delivery material in the region were reported within the wide range of €700-750 ($803-860) per tonne ex-works.

Nevertheless, no fresh bookings were heard on Monday with estimates of workable prices varying within the range of €700-730 per tonne ex-works.

Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at €718.75 ($8274.02) per tonne on March 30, up by €1.25 per tonne from €717.50 March 27.

The index was up by €1.25 per tonne week on week and up by €32.68 per tonne rfom the last day of February.

Preliminary offers for July-delivery HRC in Northern Europe were heard in the range of €750-780 per tonne ex-works.

The rise in the domestic prices was expected, considering the rises in import prices as well as the introduction of a new tighter safeguard system in July.

The Italian market was also quiet on March 30 with no new transactions heard.

“The market is extremely quiet. If any deals are made, their volume is very small,” a local source said. “People are afraid of the negative economic outlook amid a tense global geopolitical situation, so they do not want to exaggerate with new volumes.”

Market participants said that workable prices for June-delivery coil, and for what was left of May allocations, still varied within the range of €690-700 per tonne ex-works. This was was reflected in the steel HRC index, domestic, exw Italy, which was €695.00 per tonne on Monday, down by €2.50 per tonne day on day.

The index was down by €0.63 per tonne week on week but up by €24.37 per tonne compared with February 27.

Author: Vlada Novokreshchenova

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Polish domestic long steel prices rise on cost pressure; demand remains low

Polish domestic rebar and wire rod prices increased in the week to Friday March 27, supported by growing production costs and higher offer levels ahead of the Easter break.

The US-Iran conflict has caused spikes in global oil and gas prices, which have in turn rump up production costs for producers across Europe as mills deal with high energy prices.

Meanwhile, disruption to international trade routes, paired with the introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM), has limited volumes of imported materials into Europe.

Offers for rebar were heard at 2,720 zloty ($730) per tonne CPT during the assessment period, with estimates of workable levels heard around 2,700 zloty per tonne CPT.

According to sources, the growth in offer levels for rebar matches mills’ increase in production cost, while also noting that prices should soon stabilize at these higher levels amid distributors holding sufficient inventory coverage.

“Most of the big distributors are already stocked up, so April will be weaker in terms of purchases from mills,” a distributor source said.

Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, cpt Poland was 2,650-2,720 zloty per tonne on Friday, widening up from 2,650-2,700 zloty per tonne the previous week.

Prices for domestic wire rod, drawing quality, also grew in the week to Friday amid reports of producers aiming for higher offer levels.

Local producers were heard to be targeting higher offers for domestic wire rod for end of April delivery. However, sources also noted that real demand levels in Poland remain low.

Fastmarkets’ weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 2,815-3,000 zloty per tonne on Friday, rising from 2,730-2,815 zloty per tonne the previous week.

The new range reflects the latest indications in a low-liquidity market, with the lower end assessed on workable value and the upper end estimated to offers heard at 3,000 zloty per tonne, delivered.

Author: Davide Montagner

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Green Steel: a commercial and operational transformation for steel service centers

SteelOrbis talked to Tolga Kısacıkoğlu, chairman of the Board of Galva Metal, about the role of steel service centers in the industry.

How do steel service centers play a strategic role between the producer and the end consumer?

Steel service centers are not merely an “intermediary” between the producer and the end consumer; they serve as a strategic solution partner managing the efficiency, speed and sustainability of the supply chain. First and foremost, as Galva Metal, we bridge the scale gap between integrated facilities producing large volumes and industrialists making smaller, more flexible purchases. We don’t just hold inventory; we perform value-added processing. Through operations such as slitting, cutting to length, packaging, quality control and logistics planning, we prepare the product to be directly integrated into the customer’s production line. This provides both operational efficiency and cost advantages for the end consumer. In summary, steel service centers act as a buffer mechanism in the supply chain. They manage the differences in time, quantity and product specifications between production and consumption; they balance financial and operational risks. Under today’s conditions, this role has evolved far beyond the traditional trading function, transforming into a strategic partnership.

What is the state of demand and competition in the Turkish domestic market?

Domestic demand continues to follow a cautious and fragile trajectory in the first half of 2026. The slowdown in industrial production, high financing costs and businesses’ reluctance to maintain inventory are causing orders for flat steel to be shorter-term and lower in tonnage. We observe that capacity utilization rates in the automotive parts industry and white goods and general manufacturing sectors are lower compared to previous years.

How do you interpret the price trend?

Domestic demand is remaining weak in the first part of the year. The slowdown in industrial production, high financing costs and companies’ tendency to operate with low inventories are exerting downward pressure on prices. Therefore, it seems unlikely we will see a strong price increase in the short term. On the other hand, cost pressures are also preventing prices from falling sharply. Scrap, energy and financing costs remain a significant burden for producers. Although not all of these cost increases can be fully passed on to sales prices due to weak demand, a certain floor has been established.

Globally, protectionist policies and China’s export strategy will continue to be decisive factors. Restrictions in export markets can periodically lead to a shift in supply toward the domestic market and result in price pressure.

Overall, we expect a market in 2026 characterized by periodic fluctuations – rather than sudden spikes – driven by demand and cost dynamics, as it seeks to find equilibrium.

As a steel service center, what do you look for when purchasing steel sheets? What criteria, besides price, are prioritized?

While price is important in sheet metal purchases, it is not the sole determining factor. Consistency in quality and reliability of mechanical properties and surface and coating standards are critical for us, because we process the product in a way that it goes directly into the customer’s production line. Therefore, working with suppliers that produce with low error margins and consistent quality is our priority.

That said, payment terms are particularly crucial during periods of weak demand and high financing costs. Flexible payment terms, a variety of financial instruments, and business models based on mutual trust directly impact our risk management. In today’s market conditions, strong collaboration gains meaning not just through price, but also through quality, delivery discipline and payment flexibility.

EU quotas remain in place, and quota volumes are expected to decrease further in the coming period. Meanwhile, the US has raised tariffs back to 50 percent. How is this wave of protectionism generally affecting the market?

The increase in protectionist measures is forcing producers and trading firms to seek alternative markets by narrowing export channels. The tightening of EU quotas and the US’ high-tariff policy mean that significant volumes of flat products cannot enter traditional markets. This is creating a shift toward more intense competition in regions such as the Middle East and North Africa.

However, every market has a limited absorption capacity. As supply shifts toward alternative markets, price competition intensifies and margins narrow. During periods when exports are curtailed, a portion of this volume returns to the domestic market. In an environment where domestic demand is already weak, increased supply creates serious pressure on prices and can disrupt market balance.

As a steel service center, we view this situation as a process that requires careful management and poses significant risks. While rising domestic supply may seem to create a short-term price advantage, unsustainable price levels could lead to capacity reductions on the production side and supply instability in the long term.

What changes does the concept of green steel bring for steel service centers?

The concept of green steel is not merely an environmental issue for steel service centers, it also signifies a commercial and operational transformation. Customers are now questioning not only price and quality but also the product’s carbon footprint. This requires steel service centers to assume new responsibilities across various areas, from supplier selection to inventory management, and from traceability infrastructure to reporting.

However, the most critical issue here is the uncertainty surrounding the Carbon Border Adjustment Mechanism (CBAM) process. Although the reporting period under CBAM, implemented by the European Union, has begun, how carbon costs will be priced, which emission values will be used as a basis, and the implementation details during the transition period remain unclear. This uncertainty raises serious concerns regarding pricing and long-term contract management for both manufacturers and service centers.

Since service centers act as intermediaries, they must anticipate how and to what extent they will pass on the carbon costs from manufacturers to the end customer. However, making a reliable cost projection is quite difficult until the final regulatory framework is clarified.

In your opinion, what is the most urgent structural problem the sector needs to address?

In our view, the sector’s most urgent structural issue is the imbalance resulting from exports shrinking due to various quotas and protective measures while imports remain at high levels.

Quotas and trade restrictions implemented in many markets, particularly the European Union, are severely limiting the export capacity of Turkish steel producers. While producers struggle with exports, domestic demand remains weak. Despite this, the continued strong inflow of imports – especially in certain product groups – is creating a supply surplus and price pressure in the domestic market.

This situation is squeezing domestic producers from both sides: market loss abroad and intense price competition at home. Unsustainable price levels are eroding profitability, dampening investment appetite, and negatively impacting capacity utilization rates in the long term.

As steel service centers, we are also directly feeling this imbalance. For a healthy market, export channels must become more predictable, and imports must be balanced within the framework of fair competition. Otherwise, the sector will be condemned to a structure that operates under constant pressure and struggles to make long-term plans.

Author: SteelOrbis Editorial Team

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EU approves EUR 6 billion aid for Italy’s renewable hydrogen production

The European Union (EU) has approved a EUR 6 billion public support scheme aimed at supporting the production of renewable hydrogen in Italy for use in the transport and industrial sectors.
The European Commission stated that the program is in line with EU state aid rules.
The statement emphasized that the program will contribute to the EU’s hydrogen strategy and clean industry objectives. Under the scheme, Italy aims to support the production of 200,000 tonnes of renewable hydrogen per year. The support will cover hydrogen produced via electrolysis using electricity from renewable energy sources, as well as hydrogen produced through biological and thermochemical processes.
Within the scope of the program, support will be provided through two-way Contracts for Difference. The reference price for hydrogen will be determined through a competitive tender process, and if alternative fuel prices fall below this level, Italy will pay producers the difference.
The program is expected to remain in force until 31 December 2029. The European Commission is responsible for ensuring that member states provide state aid only in ways that do not distort competition and are in line with the public interest.

Author: SteelRadar Editorial Team

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EU to introduce new carbon regulation for exporters: Scope expands to finished products

The draft regulation published by the European Union Council on March 24, 2026 aims to establish a stricter framework in combating carbon leakage by significantly expanding the scope of the Carbon Border Adjustment Mechanism.
The new regulation expands carbon cost obligations beyond raw materials to include a wide range of downstream finished and semi-finished products across the production chain.
According to the draft, a broad group of products particularly those with high steel and aluminum content will be included in the mechanism as of January 1, 2028. Within this scope, many items will fall under CBAM obligations, including fasteners such as screws, bolts, and nuts, as well as pipes, tanks, construction components, and railway materials. In addition, more complex products such as engines, pumps, white goods, industrial machinery, electrical equipment, and certain commercial vehicles will also be covered.
The regulation also introduces changes to the emission calculation methodology for imported electricity starting January 1, 2026, while requiring the first reports for newly included products to be submitted by September 30, 2027. Full-scale carbon pricing will begin on January 1, 2028.
One of the key highlights of the draft is the introduction of measures against “abusive practices.” Accordingly, if companies artificially restructure supply chains to underreport emissions or manipulate actual emission data, stricter inspections will be triggered. The Commission will closely monitor import declarations and emissions data, identify high-risk cases, and request additional documentation where necessary.
The scrap metal calculation methodology is also being revised. Pre-consumer scrap, which is currently treated as “zero-emission,” will now be included in emissions calculations under the new framework. This aims to prevent the understatement of emissions in imported products through scrap usage, while post-consumer scrap will remain excluded.
The draft also allows recognition of accreditation bodies from third countries by the EU, providing more flexibility in certification processes. This is expected to facilitate cooperation with local verifiers for companies in exporting countries such as Türkiye.
Meanwhile, an emergency clause in the regulation allows certain products to be temporarily excluded from the mechanism in case of serious supply chain disruptions or extreme price volatility.
Overall, the draft demonstrates the EU’s intention to extend carbon cost obligations beyond basic industrial inputs across the entire manufacturing chain, requiring exporters to manage emissions more comprehensively throughout their production processes.

Author: SteelRadar Editorial Team

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EU launches safeguard investigation into imports of grain-oriented electrical steel

The European Commission has launched a new investigation to assess whether safeguard measures are needed on imports of grain-oriented electrical steel (GOES). The investigation aims to examine the situation of domestic producers in the European Union in the face of increasing import pressure.
Grain-oriented electrical steel (GOES), used in power transformers that transmit electricity from power plants to end users, is considered critical for the security of the EU’s energy infrastructure. For this reason, import developments related to this product group are being closely monitored.
EU-based producers state that high-volume imports—particularly from third countries led by China—are creating significant pressure, especially in the context of growing global overcapacity. As part of the investigation, the Commission will assess whether the increase in imports is causing injury to the domestic industry.
If the investigation concludes that rising imports are causing serious harm to EU industry, safeguard measures may be introduced in line with the Union’s interests. The situation of transformer manufacturers using GOES will also be taken into account during this process.
For safeguard measures to enter into force, approval by a qualified majority of EU member states is required. If the necessary conditions are found to be met during the investigation, provisional measures could be implemented within four to five months. Should such measures be imposed, definitive measures are expected to enter into force within 200 days, and no later than 9 to 11 months.
The scope of the investigation also includes laminations and cores used in power transformers, which are produced through further processing of GOES.
Meanwhile, GOES products are already subject to anti-dumping measures on imports from China, Japan, South Korea, Russia, and the United States. These measures consist of specific duties based on minimum import prices per tonne. However, as market prices have risen above these levels over time, the protection provided by the existing measures for EU producers has become limited.

Author: SteelRadar Editorial Team

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BENTELER and SMS group modernized the SRM line in Germany with a next-generation automation system

BENTELER Steel/Tube GmbH & Co. KG and SMS group have successfully completed the modernization of the stretch-reducing mill (SRM) line at the Paderborn-Schloss Neuhaus plant in Paderborn. As part of the project, the existing CARTA® automation system was replaced with SMS group’s next-generation CARTA®neo SRM technology.
As part of the modernization works, the system’s crop end control (CEC) and wall thickness control (WTC) modules were also upgraded. It was stated that these improvements not only ensure long-term system availability but also enhance product quality and strengthen the plant’s competitiveness by enabling more stable and efficient SRM operations.
The next-generation CARTA®neo SRM platform is described as representing the latest technology in automating the stretch-reducing process used in seamless pipe production. By utilizing real-time measurement data, the system enables production within tighter tolerance ranges, improves wall thickness accuracy, and increases efficiency. This allows operators to achieve more consistent production results while maintaining reliable quality levels even at high production speeds.
It was emphasized that the modernization eliminated limitations caused by outdated hardware and unsupported software components. The new system operates in a virtualized server environment based on SMS group’s X-Pact® real-time technology, significantly reducing the risk of system failures, removing dependency on single hardware components, and ensuring long-term sustainability through the use of open-source operating systems and database components.
The transition process was carried out during BENTELER Steel/Tube GmbH & Co. KG’s scheduled annual maintenance shutdown, preventing unplanned production losses. During commissioning, regular testing, updates, and customer-specific optimizations were performed by SMS group, allowing production to continue with minimal interruptions.
Within the scope of the project, the motor control strategy of the SRM line was also redesigned. The new approach reduces peak loads on drives, minimizes unnecessary load cycles, improves coordination with the flying saw at the end of the line, and enhances process stability at high pipe speeds.
The implemented CARTA®neo SRM system is supported by a long-term service package, including remote maintenance, troubleshooting, software updates, and customer-oriented enhancements, ensuring that the system remains up-to-date, secure, and ready for future expansions.

Author: SteelRadar Editorial Team

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Global steel producers fall short in decarbonization

A new assessment of the global steel sector has revealed that the world’s leading producers are significantly lagging behind in the decarbonization process. The first Corporate Scorecard prepared by SteelWatch shows that none of the 18 major steel producers operating worldwide are sufficiently prepared to transition to near-zero emission production.
According to the report, while many companies have committed to long-term climate targets, coal dependency remains the norm across the sector, and efforts to scale up green iron production are still at an early stage.
The assessment, published today, covers iron and steel producers headquartered in 11 countries with production sites in 29 countries. By consolidating previously fragmented and non-transparent company data, the study provides one of the clearest pictures to date of the sector’s climate performance. None of the companies evaluated scored above 50 out of 100, with even the top performers showing significant shortcomings.
Caroline Ashley, Executive Director of SteelWatch, said: “Shamefully, not a single steel producer scored above 50 out of 100. Even the top-ranked companies have major gaps to close before they can claim to be acting responsibly on the climate crisis.”
Accounting for around 10% of global CO₂ emissions, the steel industry remains a critical sector in addressing climate change. Companies assessed in the report include Baosteel, Nippon Steel, POSCO, Tata Steel, ArcelorMittal, thyssenkrupp and Cleveland-Cliffs. All of these companies continue to rely on coal-based blast furnace technology, which accounts for up to 90% of sector emissions.
One of the key findings of the report is the “transition readiness gap,” referring to the discrepancy between the actions required for a credible near-zero emissions transition and those actually taken by companies. While most producers have announced net-zero targets, they lack concrete plans, investments and implementation.
Continued investment in coal-based blast furnaces and the limited scaling of green iron production remain major barriers.
The report also highlights that performance in scaling green iron production and renewable energy use remains weak, with average scores below 1 out of 25 in these areas, indicating that the sector is far from the required pace and scale of transformation.
At the company level, SSAB ranked highest with 46.2 points, followed by thyssenkrupp with 41.9 points. These companies stand out for avoiding reinvestment in coal-based assets and for having plans to develop green iron production and phase out blast furnaces. However, the report notes that even these companies need to accelerate implementation.
Meanwhile, Hyundai Steel (21.2 points), Nippon Steel (16.8 points) and HBIS Group (8.3 points) ranked among the weakest performers, driven by high dependence on coal-based production, limited progress in renewable energy and a lack of concrete steps in green iron development.
Despite the overall negative outlook, the report points to some limited progress. Most companies are no longer building new blast furnaces, while some producers have increased direct reduced iron (DRI) capacity, which could be shifted toward near-zero emissions. SSAB was also noted for achieving a notable share of renewable energy use. However, the report stresses that progress must go beyond announcements and be backed by concrete action.
The SteelWatch Corporate Scorecard covers a wide range of companies, including SSAB, thyssenkrupp, ArcelorMittal, Ternium, JSW Steel, Cleveland-Cliffs, NLMK, U.S. Steel, Gerdau, Tata Steel, Baosteel, JFE Steel, MMK, Oyak, POSCO, Hyundai Steel, Nippon Steel and HBIS Group.
The assessment is primarily based on companies’ annual reports published in 2025, covering the 2024 fiscal year. It notes that investments made during this decade will be critical in reducing coal dependency and scaling green production, and that progress across companies will be closely monitored.

Author: SteelRadar Editorial Team

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EU wire rod sees highest quota utilization in the first quarter

The first quota period of the year covering January 1–March 31 under the EU steel quotas has come to an end. Data for the period shows that many countries fully utilized their allocated quotas across various product categories.
According to data compiled by SteelRadar based on European Commission figures, South Korea fully utilized its quotas of 38,622 tons for category 3B electrical sheets and 37,148 tons for category 4A metallic coated sheets. Taiwan also reached 100% utilization in its 22,536-ton quota for organic coated sheets.
Turkey was among the countries that fully exhausted quotas across the highest number of product categories in the first quarter. The country filled its quotas of 97,074 tons of wire rod, 93,454 tons of rebar, 15,559 tons of organic coated sheets, 1,715 tons of railway materials, 37,698 tons of other welded tubes, and 14,782 tons of large welded tubes.
India reached 100% utilization in its quotas of 31,416 tons for stainless bars and light sections, and 5,821 tons for stainless seamless pipes.
China fully used its quotas of 6,929 tons of sheet piling, 34,005 tons of other seamless pipes, and 7,992 tons of other welded pipes.
North Macedonia was also among the countries that fully utilized its quota, filling its 25,948-ton allocation for hollow sections.

Author: SteelRadar Editorial Team

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UK prepares to fully nationalize British Steel

British Steel is expected to be fully nationalized within the next few weeks. According to The Guardian, full economic control is expected to pass into public ownership about a year after the government took over the daily management of the loss-making business from its Chinese owner, Jingye Group.
The company, which employs around 3,500 people at its Scunthorpe plant, was taken under government control in April last year amid concerns over Jingye’s plans to shut down the facility. However, ownership of the company still remains with Jingye. British Steel continues to operate the UK’s last two blast furnaces, playing a critical role in the country’s primary steel production capacity.
According to sources familiar with the matter, the UK government is taking steps to classify the steel sector as a strategically important area for national security. This approach is seen as a development that could pave the way for the company’s full nationalization.
Meanwhile, it is reported that Chinese investors offered around GBP 100 million for British Steel earlier this month, but the offer was rejected. Jingye is said to have initially sought a valuation exceeding GBP 1 billion. The government is also considering giving Jingye a limited timeframe to reach an agreement.
If the plant were to close, the UK’s primary steel production capacity would effectively come to an end. Blast furnaces enable steel production from raw materials without reliance on scrap. However, according to National Audit Office data, the company’s operating costs had reached GBP 377 million by the end of January, and if the current trend continues, this figure could exceed GBP 1.5 billion by 2028.
These developments are seen as the latest efforts to turn British Steel into a sustainable business. The company was acquired by Greybull Capital in 2016, but went bankrupt three years later and was subsequently taken over by Jingye.
Although the UK steel sector has significantly shrunk compared to its peak in the 1970s, British Steel remains a major employer in Scunthorpe and provides indirect employment to tens of thousands of people across the wider steel supply chain. Network Rail, which manages the country’s railway infrastructure, sources around 95% of its rail requirements from this facility.
Jingye’s Scunthorpe plant is reported to be losing approximately GBP 700,000 per day, and the company announced plans to shut down the facility in March 2025. During this period, authorities attempted to increase production in order to improve profitability. Any potential new investor would likely need to invest hundreds of millions of pounds to replace fossil fuel-based, high-emission blast furnaces with electric arc furnaces.
Earlier in March, the government announced that it would double tariffs on imported steel and tighten import quotas in order to protect the sector from oversupply caused by low-cost Chinese imports.
A government spokesperson stated that protecting steel production in the UK remains a priority, adding: “We continue to engage with the company’s owner to find a solution that safeguards jobs, production, and national interests.”

Author: SteelRadar Editorial Team

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