European steel CRC, HDG prices falling on seasonal slowdown
Downstream flat steel prices fell further in Europe in the week to Wednesday July 16, with slow demand during the holiday season still impacting the market, sources told Fastmarkets.
However, sources also said that prices might have reached their lowest possible levels this week.
Northern Europe
Domestic prices for cold-rolled coil in Northern Europe fell in the week to Wednesday, according to market sources.
Sources estimated the workable level at €630-655 ($732-761) per tonne ex-works this week, compared with €650-660 per tonne ex-works during the previous assessment period.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Northern Europe was €630-655 per tonne on Wednesday, falling from €650-660 per tonne the previous week.
Meanwhile, CRC imports were stable in the week to Wednesday.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, import, cfr main port Northern Europe was €590-615 per tonne on Wednesday, unchanged week on week.
Domestic prices for HDG in Northern Europe also fell this week, with sources estimating the workable level at €640-670 per tonne ex-works on Wednesday, compared with €660-670 per tonne ex-works during the previous assessment period.
However, a deal was also heard at €645-650 per tonne ex-works.
Therefore, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe was €645-670 per tonne on Wednesday, widening downward from €660-670 per tonne the previous week.
Meanwhile, HDG imports were stable in the week to Wednesday.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Northern Europe was €690-700 per tonne on Wednesday, unchanged week on week.
Southern Europe
Domestic prices for CRC in Southern Europe also fell in the week to Wednesday, according to market sources.
Sources estimated the workable level at €620-630 per tonne ex-works this week, compared with €630-650 per tonne ex-works during the previous assessment period.
As a result, Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Southern Europe was €620-630 per tonne on Wednesday, falling from €630-650 per tonne the previous week.
Regarding CRC imports, sources estimated the workable level at €600-610 per tonne CFR in the week to Wednesday, compared with €590-620 per tonne CFR during the previous week.
However, offers were also heard hovering around €590-610 per tonne CFR this week.
Therefore, Fastmarkets’ weekly price assessment for steel cold-rolled coil, import, cfr main port Southern Europe was also €590-610 per tonne on Wednesday, narrowing downward from €590-620 per tonne in the previous assessment period.
Domestic HDG prices in Southern Europe also fell in the week to Wednesday, with sources estimating the workable level at €630-650 per tonne ex-works, compared with €640-670 per tonne ex-works during the previous assessment period.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Southern Europe was €630-650 per tonne on Wednesday, falling from €640-670 per tonne the previous week.
On the other hand, HDG import prices were stable this week.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Southern Europe was €660-690 per tonne on Wednesday, unchanged week on week.
IETA: European institutions should fast track remaining CBAM delegated acts
The EU’s carbon border adjustment mechanism is helping to catalyze new carbon pricing mechanisms worldwide, with countries implementing, expanding or reconsidering their approaches to their carbon pricing policies, Aurora D’Aprile, EU policy officer at the International Emissions Trading Association, told Platts.
However, the Commission should fast track the remaining implementing acts, she said, as clarity is needed on the calculation of carbon prices paid abroad and the discounts importers can obtain before the definitive period of CBAM starts in 2026.
“We strongly encourage the European institutions to fast track the implementing acts, and the recognition of how to calculate and to recognize the carbon price paid in third countries,” said Aurora D’Aprile in an interview with Platts, part of S&P Global Commodity Insights.
Fragmentation remains a key issue arising from the EU’s carbon levy, IETA said in a report published June 26.
“It’s a very fragmented, fast-paced space,” said D’Aprile. “CBAM has proved to catalyze carbon pricing evolution, carbon pricing initiatives and the evolution of emissions trading systems all over the world.”
However, CBAM cannot be seen as a purely environmental measure abroad, she warned, adding that the EU measure has to be considered in the context of geopolitical and climate trade discussions.
The first legal challenge arising as a response to the EU’s carbon border mechanism came in May, when Russia launched a formal dispute at the World Trade Organization against the bloc’s CBAM and emissions trading system.
Russia said the measures imposed by the EU were “discriminatory” and “do not concern a genuine environmental measure.”
“The decision by Russia to revert this issue to the WTO is of key relevance,” said D’Aprile. “The risk is that operating globally is going to become more and more complex and uncertain, and costly, due to fragmentation. This is not something that would benefit the climate.”
Carbon prices paid abroad
The EU’s CBAM regulation states that importers can claim a reduction in the number of certificates they must surrender, corresponding to the carbon price already effectively paid in the country of origin for the declared embedded emissions of CBAM goods.
The EC defines the carbon price as a “monetary amount paid in a third country, under a carbon emissions reduction scheme, in the form of a tax, levy or fee in the form of allowance under a greenhouse gas emissions trading system”.
However, the EC is still working on several implementing and delegated acts before the definitive phase of the regulation kicks in. The publication of the implementing act that is set to further address the deduction of carbon prices paid in third countries is expected by the end of 2025.
“This is a central element of key importance for all the businesses that operate globally and will have to consider this to assess their strategies and their liabilities,” D’Aprile said.
The transitional phase of CBAM runs from October 2023 to December 2025. During this period, importers of carbon-intensive products such as iron and steel, cement, fertilizer, aluminum, hydrogen and electricity are only required to report the greenhouse gas emissions embedded in their imports.
Companies are required to purchase certificates starting in February 2027 for goods imported in 2026, according to the latest simplification package put forward by the EU. However, market participants have previously said that several challenges remain ahead of the definitive period.
International credits
The regulation on reductions for carbon prices paid in third countries only extends to compliance carbon schemes such as emissions trading systems or carbon taxes and does not mention international carbon credits or Article 6 units under the Paris Agreement.
“The role of international credits is something that IETA encourages to be put into the discussion,” said D’Aprile.
She welcomed the EC’s decision to greenlight the use of international credits and Article 6 units toward meeting the bloc’s 2040 climate targets, saying that this was a positive signal.
The amendments to the bloc’s climate law earlier in July will allow the “limited use of high-quality international credits” under Article 6 of the Paris Agreement starting from 2036. The regulation will allow for 3% of the bloc’s 1990 net emissions to be counted toward the 2040 target.
The use of these Article 6 units toward obtaining discounts under the EU’s carbon border levy, however, has not been addressed by the EC.
“This is something that may, in the future, enter into the conversation, but as of now, the priority should be how to recognize the carbon price effectively paid,” D’Aprile said.
The role of Article 6 will likely become part of the CBAM discussion in the future, she said, because the EU’s trade partners are already considering Article 6 in their compliance mechanism.
Singapore and Japan have recently issued policies that may encourage the trading of Article 6.2 carbon credits, with Japan establishing a tailored system, the Joint Crediting Mechanism, which only accepts bilateral methodologies approved by JCM partners.
Once the regulation enters the definitive period, the price of CBAM certificates will be calculated based on the quarterly average of EU Allowances in the first stage, before the calculation moves to a weekly average.
Platts assessed the weekly average price of EU Allowances for the nearest December 2025 delivery at Eur70.71/mtCO2e ($82.66/mtCO2e) on July 11.
EUROMETAL seeks inclusion of traders, distributors in trade measures
EUROMETAL has urged the European Commission to engage with member states to ensure that service centers, traders and steel distributors are included in discussions relating to trade measures, board member Julian Verden said July 17.
“EUROMETAL is fully behind the Commission’s endeavours to support the European steel industry, which we strongly believe is vital for Europe,” Verden, who is also managing director of Stemcor Europe, said during a telephone interview with Platts. “However it is not necessary that measures should go to the exclusion of imports.”
“I would suggest that the new measures that the EC is likely to put in place should be similar to the existing measures,” he said. “Some changes and reductions in volumes could be reasonable, but the EC should discuss them with us as we represent companies employing many workers and creating considerable taxes. We are happy to work to help propose optimal solutions so that the EC is not just hearing the steel producer side.”
EUROMETAL represents all operators of the steel intermediation chain.
When addressing Eurofer’s recent rumored requests for a 50% increase in safeguard duties and a reduction in quotas, Verden expressed strong reservations. He emphasized that doubling the existing 25% duty is unreasonable and would worsen the challenges faced by end customers. “We’re seeing real hardship,” he said, pointing out that the current duties are already burdensome for many in the industry. While he acknowledged that some adjustments to quotas might be warranted, he argued that a 50% reduction is unjustified, given that the market has only declined by about 15%.
The discussion also touched on the implications of the Trump administration’s tariffs, particularly regarding raw materials exports from Europe to the US. He hinted that if tariffs remain in place, they could lead to significant challenges for European traders selling to the US, particularly for pig iron and other semi-finished products, and higher costs for US steel companies, which probably lobby to lower the tariffs.
The US steel market has experienced significant volatility this year, which has largely benefited domestic raw steelmakers. The current tariff policy has supported finished steel product prices, although it has not significantly affected US producer costs.
Despite a decline in US Midwest hot-rolled coil prices from their mid-March highs, prices remain up 25% in the year to date, according to Platts pricing data.
According to the American Iron and Steel Institute, the Netherlands, the UK and Sweden are the top three exporters of scrap to the US.
Verden also raised concerns about the current challenging geopolitical climate, which is resulting in some shipping routes becoming more difficult to use, in particular after Houthi rebels attacked and sank two ships earlier in July, killing at least four seafarers after months of calm.
The Red Sea is a critical waterway for commodities shipping but traffic has dropped sharply since Houthi attacks off Yemen’s coast began in November 2023. Verden noted that while the freight market remains soft, insurance costs are increasing, pushing up operational costs for traders.
EU postpones sections quota adjustment to August
The removal of the 15% cap on the EU’s safeguard quota for steel sections will be postponed till 1 August, as the initial date of 1 July could not be upheld, the EU says in a note to the WTO Committee on Safeguards.
The adjustment affects Category 17 – angles, shapes, and sections of iron or non-alloy steel, under CN codes 7216 31 10, 7216 31 90, 7216 32 11, 7216 32 19, 7216 32 91, 7216 32 99, 7216 33 10, and 7216 33 90, Kallanish notes.
To swiftly restore traditional trade flows, the EU said previously it plans to remove the 15% country-specific import cap and reintroduce country-specific quotas for the UK, Türkiye, and Korea, along with a residual quota.
A 40% limit will apply to the residual quota, and quota holders will be excluded from accessing it during the final quarter of the safeguard year.
For the transition period from 1 August to 30 September 2025, quota volumes will be allocated on a pro-rata basis, based on remaining global quota balances as of 31 July.
Additionally, the EU proposes corrections to technical inaccuracies, including adjustments to footnotes and the removal of a cap in Category 4B.
The EU safeguard measure will remain in place until 30 June 2026, with a continued annual liberalisation rate of 0.1%.
Consultations with interested exporting members are scheduled for 22 and 23 July.
| Country | 1.7- 30.9.2025 | 1.10- 31.12.2025 | 1.1- 31.3.2026 | 1.4- 30.6.2026 |
| Ukraine | 31,663 | 31,663 | 30,974 | 31,318 |
| United Kingdom | 27,507 | 27,507 | 26,909 | 27,208 |
| Türkiye | 22,892 | 22,892 | 22,395 | 22,643 |
| South Korea | 5,335 | 5,335 | 5,219 | 5,277 |
| Other countries | 12,555 | 12,555 | 12,282 | 12,419 |
| United Kingdom to Northern Ireland | 14,255 | 14,255 | 13,945 | 14,100 |
Elina Virchenko Ukraine
WBB to install new production line for wear-resistant steel sheets with Polish state support
Poland-based coal producer Węglokoks Group has announced that its steelmaking subsidiary Walcownia Blach Batory (WBB) will install a new production line for manufacturing wear-resistant steel sheets. The project is backed by the Polish government’s Reprivatization Fund.
Accordingly, the company aims to produce high hardness wear-resistant steel sheets directly at its rolling mill. In the first stage of the project, WBB has joined forces with INOXIHP Poland to purchase a descaling machine, a key component of the planned production line.
WBB produces steel sheets, low-carbon steel sheets, alloy steel sheets, and steel sheets with special physical properties, such as abrasion resistance, corrosion resistance, and heat resistance.
UNESID: Spanish steel output up 0.5 percent in May 2025 from April
According to the Spanish steelmakers association UNESID, in May this year Spain’s steel production totaled 1.14 million mt, up by 0.5 percent month on month and by 2.9 percent year on year. In the January-May period of this year, the country’s steel production totaled 5.55 million mt.
In the given month, the Spanish steel industry recycled 930,000 mt of scrap to be used for new steel products, rising by 4.7 percent compared to the previous month and by 4.4 percent year on year. In the first five months of the current year, the industry recycled 5.04 million mt of scrap.
Polish automotive production sinks to record low
Polish automotive production has reached record lows in 2025, due to weakening sales of vehicles across Europe, thereby depriving the Polish economy of an important growth engine, Kallanish notes.
Production of passenger cars in Poland totalled only 9,000 units in May, according to the latest figures, down 60% on-year. This took January-May output to 42,100 vehicles, down 68% on a year earlier, according to Statistics Poland (GUS) data compiled by the Polish Automotive Industry Association (PZMP).
This means an average of 8,400 passenger cars has been produced in 2025 each month, compared to 18,000 units in full-year 2024 and 24,900 units in 2023.
Commercial vehicle output declined 11% in the five months to 135,808 units; however, this is from a high base after it reached an all-time record in full-year 2024.
Output of buses fell 12% in January-May to 2,618 units.
Adam Smith Austria
SSAB, UK roofing firm expand partnership
SSAB and UK company Metal Solutions have entered a long-term partnership for the supply of decarbonised steel, Kallanish learns.
According to SSAB, Metal Solutions is the UK’s premier supplier and fabricator of all traditional metal roofing materials, systems and components to the roofing and cladding industry.
Its new collaboration with SSAB builds on a longstanding partnership with the Swedish mill group and “represents a shared vision for responsibility, and sustainable transformation across the metal roofing and cladding sector”, SSAB says.
SSAB’s GreenCoat colour coated steel is already among Metal Solution’s most popular material choices for metal roofing and cladding, the steelmaker notes. It forms the beginnings of a wider strategy – “moving on through low emission recycled steel and eventually on towards a fully fossil-free steel future”, SSAB continues.
“We are happy to add fossil-free steel to our collaboration with Metal Solutions, which already uses our GreenCoat colour coated steel, containing rapeseed oil in the coating,” says SSAB Swedish Steel managing director Dave Williams.
Christian Koehl Germany
AST invests in AI-based systems to boost efficiency
Italian stainless steelmaker Acciai Speciali Terni (AST), part of the Arvedi Group, is investing in the modernisation of its Terni facility, with a focus on intelligent manufacturing systems and sustainable process innovations. The project includes the upgrade of the plant’s cold annealing and pickling line to improve production efficiency and increase throughput.
The investment comes in response to rising demand from key sectors such as food, chemical, construction, and automotive. To carry out the upgrade, AST has contracted engineering group Fives, Kallanish notes.
Central to the upgrade is the integration into the annealing section of induction heating technology, specifically the CELES EcoTransFlux transverse flux induction heater. This system enables ultra-rapid heating at extremely high temperatures, even for non-magnetic stainless steel grades, eliminating current furnace limitations during product transitions, Fives notes. The upgrade is expected to deliver a production increase of over 16% on certain product lines.
In addition to boosting productivity, the use of induction technology significantly reduces NOx and CO2 emissions, aligning with Arvedi’s broader sustainability and environmental goals.
As part of the upgrade, a new digital thermal process solution called Virtuo-L will be installed to control the heating section, aiming to reduce fuel consumption and enhance mechanical properties through precise transition management. Based on advanced predictive modelling, Virtuo-L enables highly accurate furnace control by automatically adjusting heating power and optimising strip temperature transitions, independent of operator shifts.
“The direct benefits are a reduction in coil rejections by more than 5% and better heating management resulting in lower gas consumption. In addition, an AI-based cooling model will be introduced to regulate the cooling speed of the strip … We firmly believe that the electrification of processes and the implementation of advanced digital solutions, including sophisticated artificial intelligence algorithms, are an integral part of our decarbonisation plan for the strategic development of the site,” says Arvedi AST chief technology officer Gian Luca Gigli.
AST has invested in digitisation over recent years to boost production management, quality control, and production issue detection. Fives has already installed an intelligent quality management system, “Eyeron”, with the aim of streamlining the production process (see Kallanish passim).
Natalia Capra France
Steel rebar prices in Italy increase amid higher costs, healthy demand
Steel rebar prices in Italy moved up in the week to Wednesday July 16 due to higher energy costs and healthy demand.
One market source said that the effects of the summer holiday season were “starting to be felt,” with imminent mill closures leading to increased demand on expectations of tightened supply.
Market participants also said that higher energy costs were supporting the upward moves in prices.
Deals have been reported at €530-570 ($614-661) per tonne in the past seven days.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, was €520-570 ($603-661) per tonne on July 16, a rise of €10-20 per tonne from €510-550 per tonne a week earlier.
