Category: Latest Updates

Sülzle Stahlpartner has announced that it has acquired another regional bender and distributor, Joseph Fien GmbH in Bad Säckingen, state Baden- Württemberg in southwestern Germany. 

Joseph Fien has been a steel distributor and iron bending company since 1978, serving the Swiss market in particular, in addition to nearby French regions, Kallanish notes.

In addition to classic reinforcing steel, the company is one of the leading suppliers of stainless steel reinforcement in Germany, Sülzle says. It underlines that Joseph Fien is the only German stainless steel bending company that stocks all materials approved by the building authorities, serving customers nationwide.

Stainless steel reinforcement is used wherever chloride-contaminated moisture can attack load-bearing or sensitive components. This would be the case in in tunnel and basement construction, car park renovations, floor slabs and underground car parks, as well as in special building areas such as hospitals, machine rooms and control rooms.

“With Bad Säckingen, we are entering a region with great market potential and gaining an experienced team that shares our values. At the same time, we are expanding our portfolio in the field of stainless steel reinforcement and thus opening up new market opportunities,” says Heinrich Sülzle, managing partner of Sülzle Group.

Sülzle now owns 19 companies around 1,000 employees at over 30 locations in Germany and France, mainly handling reinforcing bar.

 

The India-US trade deal announced on 2 February has improved sentiment across India’s industrial value chain. For steel, however, the impact remains indirect and downstream focused, Kallanish understands.

US Section 232 tariffs on steel, aluminium and copper remain at 50%, while selected auto components continue to face duties of 25%, keeping Indian direct steel exports to the US constrained.

Market participants broadly view the agreement as neutral for steel trade. A steel sector expert notes that Indian steel exports to the US were already minimal last year due to tariffs, and volumes were subdued even before recent increases. In this context, any easing of tariffs would be unlikely to materially revive exports, with “no major change” expected unless Section 232 terms are explicitly addressed.

Policy clarity also remains limited. An industry veteran cautions that details so far are confined to political statements and social media posts, and prefers to await formal documentation before reassessing the deal’s implications.

The immediate relevance for steel lies in downstream manufacturing. The reduction in reciprocal US tariffs on Indian goods to 18% from 50% materially improves the competitiveness of several export-oriented, steel-intensive sectors. Their expansion is expected to lift domestic steel consumption rather than generate direct export flows.

Engineering and capital goods represent the strongest transmission mechanism. Machinery and equipment account for 8.1% of India’s exports to the US and are identified as immediate beneficiaries, as per equity research firm SAMCO Securities’ latest note.

Lower tariffs could reduce the landed cost of Indian-made boilers, industrial machinery and nuclear equipment, which are intensive users of hot rolled coil and specialised plate. Higher order inflows in these segments typically translate into higher steel offtake.

Auto ancillaries offer a steadier but narrower upside. Export-oriented forgers benefit from improved pricing headroom, although Section 232 duties on specific components cap volume acceleration. The implication for steel demand is incremental, supporting alloy and forging-grade consumption.

Electronics manufacturing also gains at the margin. Electrical machinery is already India’s largest export category to the US by value. Tariff relief and the removal of punitive penalties support domestic production of electronic housings and solar components, reinforcing demand for galvanised and coated flat steel.

Currency movement provides an additional layer of support. The rupee strengthened by around 1.5% versus the dollar following the announcement. Brokerage firm Elara Securities expects the currency pair to trend towards INR 88.5-89/dollar in the coming weeks as external trade risks ease.

For steelmakers, rupee appreciation lowers the landed cost of imported metallurgical coal. Given India’s structural dependence on coking coal imports, this improves margin visibility, particularly if global steel prices remain rangebound.

India’s stated intent to increase purchases of US coal and energy could further stabilise sourcing, although this is viewed as a “long-term aspiration” rather than a firm commitment, says think-tank GTRI founder Ajay Srivastava.

India-US trade deal: steel impact matrix

Channel / Sector	Key Data Points & Beneficiaries	Market View	Steel Sector Implication
Direct Steel Trade	US Section 232 tariffs remain at 50%. India exported $3.0bn in articles of iron/steel in CY24	Restricted: no direct relief for primary mills	Minimal direct export upside; focus remains domestic
Engineering & Machinery	Accounts for 8.1% of US exports. Includes nuclear reactors, boilers, and heavy equipment	Immediate beneficiary: tariffs cut to 18%	Bullish: high intensity demand for HRC and heavy plate
Auto Ancillaries	Bharat Forge cited as a key gainer. Some parts still face 25% Section 232 duties	Partial relief: competitiveness boost for non-security parts	Steady pull for high-quality alloy and forging steel
Electronics & Solar	Largest export category ($12.6bn in CY24). Includes electrical machinery and mechanical parts	Strategic winner: rapid volume expansion expected	Increased offtake of coated and galvanized flat steel
Currency (USDINR)	Expected to trend towards 88.5-89. FPI flows reversing course	INR supportive: strongest level since late 2024	Margin expansion: Significantly lowers landed cost of imported coal/scrap
Energy & Upstream	India committed to $500bn in US goods, including coal and energy	Long-term aspiration: 20-year timeline for total volume	Improves long-term input cost stability for blast furnaces, but lacks policy clarity
Industrial Infra	Relief for textiles and chemicals	Indirect growth: spurred by factory/warehouse expansion	Drives demand for structural steel and PEB sections

Source: GTRI, Elara, SAMCO, Kallanish

 

European hot-rolled coil (HRC) prices were broadly flat on Tuesday February 3, lagging behind mill offers amid insufficient demand. However, sentiment remained upbeat, supported by the Carbon Border Adjustment Mechanism (CBAM) and tightening import supply, Fastmarkets heard.

HRC prices across Northern Europe continued to trail official mill offers, though the gap has been narrowing since early January. Domestic prices have been edging upward steadily but mainly fueled by import-restricting regulations — CBAM and new safeguards measures, rather than demand pick up.

“Mills are pushing to increase [flat steel] prices due to missing imports. But there is no improvement form demand side and there is no restocking,” a steel-service center (SSC) source in Germany said.

Another SSC source claimed that they purchased more HRC than usually in the fourth quarter of 2025 in order to build higher stocks ahead of CBAM rollout, and therefore, felt no urgent need to restock.

Buyers estimated achievable prices for HRC in Northern Europe at no higher than €650 ($769) per tonne ex-works on Tuesday.

Offers for April delivery from integrated mills in Germany, Sweden and the Benelux area were reported at €670-685 per tonne ex-works. March-delivery HRC was heard to be largely sold out, with only limited availability left at some suppliers.

Buyer sources suggested there was still some limited room for price rises but doubted higher levels of €700 per tonne delivered (€685-690 per tonne ex-works) could be achieved in the near term, considering lack of support from demand side.

“End users refuse to accept higher prices. In 2-3 weeks, producers will need to push for April sales, and we will see where prices settle,” a buyer in the Benelux area said.

As a result, Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was €651.07 per tonne on Tuesday, up by €0.24 per tonne from €650.83 per tonne on Monday February 2.

The index was up by €1.57 per tonne week on week and by €23.57 per tonne month on month

Fastmarkets’ corresponding daily steel hot-rolled coil index domestic, exw Italy was calculated at €647.00 per tonne on Tuesday, down by €4.67 per tonne from €651.67 per tonne a day earlier.

But the index was up by €9.04 per tonne week on week and by €23.88 per tonne month on month.

Italian mills were looking to achieve €690-700 per tonne delivered (€675-685 per tonne ex-works for April-delivery coil), however, no trades were reported at such levels.

Supplier sources estimated workable levels at no lower than €650-660 per tonne ex-works, while one producer set the bar at €650 per tonne ex-works minimum.

Buyers’ estimation of achievable prices were heard at €630-650 per tonne ex-works on Tuesday.

Such a huge gap was due to lack of actual trading, sources said.

“SSCs are not in the market to restock yet, trading is limited,” a buyer in Italy said.

“There is no real restocking yet, wait-and-see attitude at big buyers,” a second buyer said.

Market sources indicated that interest in new import purchases remained subdued, largely due to uncertainty surrounding the EU’s CBAM framework, the transition toward the new trade system, and a lack of clarity over how much safeguard quota remains available.

That said, participants noted a notable development in how CBAM costs are being handled for the limited number of import transactions currently taking place. For these deals, buyers and sellers were increasingly relying on actual emissions data, provided by sellers, rather than default values when estimating CBAM-related charges.

One source familiar with the matter said that definitive emissions verification is not expected until early 2027, following the completion of 2026 emissions reporting.

Buyers largely maintained a preference for DDP-based import bookings to help offset CBAM costs, with a number of European trading houses offering these terms.

But trade sources pointed out that, even in DDP offers, CBAM costs were usually “paid up to a certain threshold.”

Sources reported offers of Indian-origin HRC around €600 per tonne DDP, with CBAM-related costs factored in. Offers for Turkish material into Italy were meanwhile heard at approximately €630–640 per tonne DDP, also inclusive of CBAM costs.

HRC from Saudi Arabia, meanwhile, was offered in Italy at €620 per tonne DDP, including CBAM costs.

 

At a time when large parts of Europe’s steel value chain are under increasing pressure, European Staal is pursuing a different path, centred on industrial recovery, reinvestment and long-term development within Europe.

Around a year and a half ago Belgian investor Amaury Hellssen took over several former subsidiaries of the Russian Mechel Group located in Belgium, Netherlands, Austria, Czech Republic and Germany. According to a press release issued by the company, the first months following the acquisition were marked by significant operational and structural challenges inherited from the former ownership.

Thanks to sustained efforts by the management teams across the group’s subsidiaries, combined with strong commitment from employees, European Staal progressively stabilised its operations. In 2025, the group succeeded in restoring its market position, and the current year is expected to mark its return to profitability.

For Amaury Hellssen, however, financial recovery alone is not the end goal. “My objective is not simply to make the various entities of my group profitable,” he explains, “but rather to implement innovative, environmentally responsible solutions to ensure the future of the companies I have acquired.”

In line with this ambition, European Staal has already invested in modern, high-quality equipment designed to reduce energy intensity and improve operational efficiency. At the same time, the group is assessing options to improve the environmental performance of its industrial sites. As Hellssen notes, “we have already invested in less energy-intensive equipment, and we are also exploring how to make our buildings more eco-friendly.”

The group is also expanding the range of solutions offered to its customers. Through the integration of Technochim, a newly acquired subsidiary specialised in surface coating technologies, European Staal will soon be able to deliver higher value-added finished products. These solutions are expected to serve demanding sectors such as luxury goods, pharmaceuticals, automotive and chemicals.

Looking ahead, European Staal’s development strategy continues to evolve. Negotiations are currently underway for the acquisition of an additional company in Austria, which would further complement the group’s service offering. In parallel, the group intends to rely heavily on its partnership with Technochim to develop new areas of activity in France, Belgium, Germany and Austria. “The story will not end here,” Hellssen emphasises. “We are already preparing the next steps and I look forward to reviewing where we stand in a year’s time.”

Source: europeanstaal.eu

Kloeckner Metals (KMC) has announced the acquisition of Camalloy, a stainless steel and aluminium service centre in Pennsylvania. This strategic move aims to enhance Kloeckner’s ability to deliver solutions across the sector, particularly in its core automotive and industrial end markets, supported by a more integrated North American supply chain, Kallanish learns from press release.

Camalloy serves a diverse regional customer base across the Mid-Atlantic and Midwest with shortened lead times and consistent material availability. The facility in Washington, Pennsylvania, serves key markets across Pennsylvania, Ohio, New Jersey, New York, Indiana, Maryland, Delaware, Kentucky and West Virginia. The acquisition bolsters Kloeckner’s regional delivery coverage while enhancing its support for industrial customers..

The 35,000-square-foot space is equipped with shearing and PVC application capabilities, expanding Kloeckner’s processing footprint and expertise.

John Ganem, chief executive of KMC, comments: “Camalloy raises the bar for our non-ferrous business, helping us deliver faster service and more dependable supply to stainless and aluminum customers.”

KMS operates as a subsidiary of Klöckner & Co with about 2,800 employees in 45 sites in the US and Mexico.

 

Troubled Romanian steelworks Liberty Galati will seek a strategic investor to acquire its steel mill through a tender in March, says Remus Borza, president of Euro Insol, the company’s bankruptcy administrator.

“We will organize the international auction on 12 March and the participation guarantee will be 7%,” he is reported as saying in Ziarul Financiar.

“The asset valuation was carried out by the Romanian company Darian, which specialises in industrial and real estate asset valuations. As part of the sale procedure, 13 investors have expressed interest in taking over the plant so far,” he adds.

Among those interested are industrial groups from India, China, Turkey, Ukraine and Iraq, as well as the Romanian company UMB Grup, Kallanish notes.

Also on the list of potential buyers are JSW Steel and Jindal Group from India, DeLong Steel from China, KMC Steel from Turkey, Galiawa Group from Iraq and Metinvest from Ukraine. The Ukrainian group is already present in Romania, after its acquisition of the ArcelorMittal Tubular Products factory, which completed in December.

Liberty Galati and Euro Insol had not replied to requests for comment by Kallanish at the publication deadline.

Liberty Galati has amended an earlier restructuring plan proposed by the two administrators, which was approved by the Galati County Court.

The plant has annual production capacity of around 2.5 million tonnes of steel for the construction, naval, oil and gas, and power generation sectors. It was acquired by Liberty Steel Group from ArcelorMittal in July 2019.

The plant is part of the Liberty Group and entered into a preventive arrangement in March 2024, in an attempt to avoid bankruptcy. Since then, the plant’s activity has been severely affected.

Last summer, Liberty Galati resumed operations at its metallurgical plant following a pause of almost a year.

 

Heavy plate prices and availability will be particularly impacted by the Carbon Border Adjustment Mechanism (CBAM), according to German consultant Andreas Schneider of Stahlmarkt Consult. 

In contrast to most other products, Europe’s plate market is a hungry absorber of slab as the semi-finished input material used by many re-rollers in Italy, and other countries. The CBAM fees will be imposed on imports of plate as well as slab, meaning that this value chain will see barriers on both channels, Schneider says.

“The effect of CBAM on the costs of heavy plate and slab is even more unclear than for other product groups,” he tells Kallanish. The fee on plate could well range between €100-300/tonne ($118-354/t), he adds.

The EU’s gradual phasing out of Russian slab until 2028, or its potential ban from July this year as part of the new trade regime, has already caused a diversion to Asian sources. But countries like China and Indonesia will easily face default fees of €300/t or more, which will render them unattractive.

Most recently, slab from traditional Asian suppliers, excluding CBAM costs, were still reported at around $520/t cfr southern European ports (see Kallanish 30 January).

Among European re-rollers, the subsidiaries of NLMK in Belgium and Denmark are most dependent of material from Russia and will need to gradually divert to other sources. Although European mills have excess capacity of slab for coil production, these are normally thinner and cannot be easily used for rolling heavy plate.

European integrated mills are reportedly tempted by the low prices of Russian and Brazilian slab. Market sources suggest they occasionally do buy slab from import, rather than using their own production, and such transactions are sometimes heard in the market, but remain unconfirmed.

According to Schneider, “it’s one of the best-kept secrets – that [European] mills buy slab from overseas imports.”