Demand for imported steel hot-rolled coil remained flat in the week to Wednesday November 26, with the market’s appetite for coil still subdued amid prolonged regulatory uncertainty, sources told Fastmarkets.
The market is still awaiting more clarity on the potential costs associated with the EU Carbon Border Adjustment Mechanism (CBAM) and how that might impact imports, sources said.
According to a distributor, there is “no demand” in the market now and more change can be expected from next year when CBAM and other trade regulations are set to come into force.
Meanwhile, a trader source said that market participants are “not looking to take risks” at the moment, adding that they will “wait to see” what changes in the market.
Fastmarkets’ weekly price assessment for steel hot-rolled coil import, cfr main port Southern Europe was €475-520 ($551-603) per tonne on Wednesday, unchanged week on week.
HRC offers from Asia for January shipment were reported around €475-500 per tonne CFR, without CBAM costs.
Another offer was reported around €475-520 per tonne CFR, without CBAM costs.
Fastmarkets’ weekly price assessment for steel hot-rolled coil import, cfr main port Northern Europe was €480-520 per tonne on Wednesday, also unchanged week on week.
An offer from Indonesia was reported around €490-495 per tonne CFR, without CBAM costs.
Buyers estimated achievable prices at €480-520 per tonne CFR, without CBAM costs.
Considering the market’s need for clarity on CBAM-related costs on imports, Fastmarkets launched a DDP import steel price assessment for flat steel products on Wednesday.
The introduction of new DDP assessments for imported flat steel in Europe is intended to offer clearer insight for market participants as they navigate the changing trade landscape shaped by CBAM.
By factoring in the influence of CBAM-related costs, these assessments aim to mirror how the spot market is likely to function from 2026 onward, reflecting underlying supply-and-demand dynamics. As a result, CBAM certificate costs may not always be fully priced in or passed through in spot DDP transactions.
Accordingly, the published prices do not incorporate any explicit, calculated CBAM certificate cost. Such costs can vary significantly across data submissions due to differences in brand and origin, the timing of customs clearance and applicable CBAM cost at that moment and the share of carbon costs already covered in the country of origin.
Fastmarkets’ weekly price assessment for steel hot-rolled coil import, ddp Southern Europe was €580-620 per tonne on Wednesday.
A deal from Turkey was reported at €620 per tonne DDP.
A range of offers from Asia — notably from South Korea, Vietnam and Indonesia — was reported around €580-610 per tonne DDP.
Fastmarkets’ weekly price assessment for steel hot-rolled coil import, ddp Northern Europe was €595-620 per tonne on Wednesday.
An offer from Turkey was reported at €620 per tonne DDP.
An offer from South Korea was also reported at €620 per tonne DDP.
An offer was reported at €595 per tonne DDP for Indonesian material.
Buyers, however, pointed out that they were avoiding bookings from Indonesia and India due to high default emissions values for those countries revealed in leaked CBAM drafts.
“We have some Indonesian offers with CBAM partially included risks at sellers’ side; but with CBAM costs at over €500 per tonne estimated for Indonesia under default CO2 values, there is a risk of such deals to be revoked due to force majeure,” a buyer in Italy said.
