More deals for domestic hot-rolled coil (HRC) in Northwest Europe were settled at lower prices in the week to 17 April as some steelmakers need to fill their production lines.
Contrary to earlier market expectations that European mills would increase offers during the Dusseldorf Tube & Wire trade fair held on 13-17 April, target prices have not changed, and some mills continued to give discounts. Other steelmakers, however, are understood to be mulling raising offers by around EUR20/t next week.
Target prices for domestic HRC remained at EUR720-750/t delivered across the EU.
In Northwest Europe, deals have been settled at EUR680-700/t ex-works, with higher number of transactions heard closer to the upper end of the range.
A major steelmaker concluded a deal for 40,000 tonnes of June shipment HRC at EUR685/t delivered to a big buyer in Northwest Europe. This price is the equivalent of around EUR660/t ex-works, according to market sources. Such prices, however, were not available for smaller lots.
Market sources cited lack of demand recovery and the restart of blast furnaces (BFs) in France in Poland as a reason for some price softening.
The geopolitical situation in the Middle East also contributed to concerns regarding demand development. Notably, regarding rising prices and scarcity of plastic car components caused by oil shipment interruptions, as well as disruption of aluminium supply are harming steel demand from automotive industry.
Despite the demand fears majority of the market participants do not view recent deals as a drastic change of trend and they expect prices to remain stable or even pickup in the second half of the year. The reduction of quotas coming into force from 1 July could drive domestic prices higher, sources said.
“There is lack of clarity in the market, so every minor change is used an excuse for pessimism, but this will change as soon as we see the new quota system. Demand is normal, it is not improving, but we also do not know what quota distribution will be between the countries,” a trader said.
The European Council presidency and the European Parliament have reached a provisional agreement on a new regulation aimed at tackling the negative effects of global overcapacity on the EU steel market, the European Commission announced in a press release 13 April.
The EU authorities have not disclosed a full proposal of the new measures, including the country-specific quotas, details on melt-and-poured clause, unused quota carryover, etc.
In Italy, where the market is more dependent on access to imports, domestic prices have remained unchanged at around EUR700/t ex-works.
Green steel market
While activity in the spot green steel market remained muted as buyers focused on dealing with the changes in the traditional steel market, higher demand was reported from construction projects.
Spot market premiums have been heard at EUR80-100/t, reaching around EUR160/t for projects or deals with end users.
Offered premiums were reported at around EUR200/t from both existing installations and projects currently under construction.
| Weekly European steel coil | |||||
| EUR/t | Term | 17-Apr-26 | Change | ||
| Weekly Northwest Europe steel coil | |||||
| Northwest Europe ex-works HRC | EX-WORKS | 695.00 | -25.00 | ||
| Northwest Europe ex-works CRC | EX-WORKS | 825.00 | -5.00 | ||
| Northwest Europe ex-works HDG | EX-WORKS | 820.00 | -5.00 | ||
| Weekly South Europe steel coil | |||||
| Italy ex-works HRC | EX-WORKS | 700.00 | 0.00 | ||
| South Europe CIF HRC | CIF | 600.00 | 25.00 | ||
| Source: McCloskey by OPIS. | © 2026 Dow Jones Energy Limited. | ||||
| Weekly green steel | |||
| EUR/t | Term | 17-Apr-26 | Change |
| Green Northwest Europe HRC premium (scopes 1-3 CO2 under 0.8t) | 100.00 | 15.00 | |
| Green Northwest Europe ex-works HRC (scopes 1-3) | EX-WORKS | 795.00 | -10.00 |
| Green HRC premium (scopes 1-2 CO2 under 0.5t) | 100.00 | 15.00 | |
| Green Northwest Europe ex-works HRC (scopes 1-2) | EX-WORKS | 795.00 | -10.00 |
| Green HRC reduced carbon price (scopes 1-3) | 61.36 | 9.21 | |
Author: Benjamin Steven and Maria Tanatar
