A Europe-based mill source said the revised default values were “impossible to work with,” estimating that the additional CBAM cost for some origins could reach Eur140-600/metric ton unless importers provide verified emissions data.
“They are practically prohibiting imports with these values,” he said, adding that verification will quickly become the only workable route for buyers next year.
Market participants said most buyers had already closed their 2025 purchasing and were unwilling to take further positions ahead of the year-end. Mills across Europe were reportedly sold out for January 2026, with February order books now under discussion.
A Northern Europe-based service center source said that while official domestic offers remained at Eur620-640/mt ex-works Ruhr, achievable levels were typically around Eur610-620/mt, with mills showing limited flexibility.
“Some producers are willing to close deals below their targets, but availability is still reasonable,” the same source said.
In Southern Europe, tradable values were indicated around Eur600/mt ex-works Italy for February delivery, with official offers heard at Eur620-630/mt. Several Italian mills had accepted small end-of-year discounts to secure tonnages, although buyers remained hesitant to commit.
The import market remained constrained by both quota uncertainties and CBAM-related risks. Second-hand offers were reported at Eur600-620/mt DDP Antwerp for Turkish-origin material, including CBAM costs, while large-tonnage Southeast Asian cargoes were heard at Eur470-480/mt CIF Italy, excluding CBAM. However, participants said the risks associated with using default values made such deals difficult to execute.
Platts assessed domestic HRC at Eur615/mt ex-works Ruhr in Northern Europe and at Eur600/mt ex-works Italy in Southern Europe, both unchanged day over day.
Platts assessed imported material into Northern Europe at Eur500/mt CIF Antwerp, and assessed prices in Southern Europe at Eur495/mt CIF Southern Europe, both unchanged day over day.
