European hot-rolled coil prices remained stable on Oct. 28 as market participants shifted their view to 2026 with the introduction of CBAM and enhanced safeguard measures.
After the market recently converged at the Blechexpo trade fair Oct. 21-24, one mill noted the atmosphere was surprisingly positive, despite sellers raising offer levels for material recently.
However, the mill raised concerns over the threat of cheap finished goods entering the market in 2026, which could limit the effectiveness of the European Commission’s safeguard proposals and CBAM, since they are not currently covered in the regulation.
Tradable values for domestic HRC in Northern Europe were reported at Eur620-630/mt ex-works Ruhr for January 2026 deliveries, with second-hand deals said to be concluded at those levels.
In Southern Europe, offers for domestic HRC were reported at Eur600-610/mt ex-works Italy.
Platts assessed domestic HRC in Northern Europe at Eur595/mt ex-works Ruhr, and in Southern Europe at Eur585/mt ex-works Italy, both stable day over day.
The outlook on imports seemed unclear as participants shared different views on the availability of material.
“Nothing makes sense, it’s actually a mix of feelings in the market,” an Italian-based trader said. “Some people still think they can buy imports for safe arrival by year-end, especially from India.”
A North Europe-based trader noted that many traders were beginning to offer material on a DDP basis to Antwerp for 2026 as end-users look to reduce their involvement with CBAM. He added that he was unsure how deals on a CIF basis would currently be negotiated for next year.
Import offers in Southern Europe were reported between Eur600-700/mt DDP Italy, inclusive of potential CBAM costs, for Taiwanese and Turkish material.
Platts assessed imported HRC in Northern Europe at Eur490/mt CIF Antwerp, and in Southern Europe at Eur485/mt CIF South Europe, both unchanged day over day.
