The implementation of the new safeguard measure and Carbon Border Adjustment Mechanism (CBAM) will have a positive impact on the European long steel market. Certain product imports, particularly wire rod and rebar, are projected to decline sharply in the new year, supporting prices, two European long steelmaking sources tell Kallanish.
In 2026, the market will continue to be boosted by several infrastructure projects funded by the post-pandemic European recovery fund. However, a French buyer notes that import patterns vary significantly between countries. While some nations rely more heavily on imports due to their geographical positions, such as Poland and the Baltic countries, others import limited volumes of rebar but higher quantities of wire rod, where quotas are already in effect. In France and Italy, market competition remains primarily among European producers.
Overall, long steel prices this month remain largely stable compared to October, though persistently frequent but small order volumes continue to weigh on sentiment. In France, prices have declined by approximately €10/tonne ($11.52/t), with similar adjustments observed in other countries depending on product.
Demand for merchant bar shows no signs of recovery, while activity for sections, rebar, and wire rod remains limited. Italian and German domestic merchant bar prices remain high, at around €650-660/t ex-works, including size extras.
Sources report that Spanish material in Italy is priced roughly €20/t lower, and in southern regions, lower-priced Turkish merchant bar is rumoured to have a base price close to €200/t. In France, merchant bar prices have fallen under pressure from cheaper Spanish material and are now at €20-30/t below Italian domestic levels.
Sections demand remains mostly stable, steelmaking sources and agents confirm. After a slow October, a modest increase in consumption is expected by mid- or late November ahead of the year-end period. In Italy and France, first-category sections are averaging at €710-730/t ex-works, while in Germany prices are hovering around €740-750/t delivered for grade S235 sections. One source notes that Germany is currently absorbing significantly lower import volumes from other European producers, including Italy.
Delivered rebar prices from western European domestic mills, including an average size extra of €265/t, range between €590-615/t in Germany. In Italy, values are lower, at approximately €520-530/t ex-works; however, Italian producers are now seeking price increases, aiming to lift rebar base levels to around €300/t ex-works.
The European wire rod market is described as “disastrous”, marked by a structural decline in consumption and falling prices across both northern and southern Europe. Prices for drawing-quality wire rod currently average at around €570/t delivered. A steelmaking source expresses a negative outlook on overall market conditions. Another tells Kallanish longs price hikes are being considered across Europe due to the current high costs of production.
Natalia Capra France
