European domestic hot-rolled coil prices rose on Monday February 2 as customers accepted higher prices amid limited import activity.
The introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM) in January 2026 resulted in the slowdown of imports overall in the steel segment, due to the uncertainty over the cost of CBAM certificates.
The effect on the HRC market was evident, since the imported volume in 2025 totaled 9.5 million tonnes, according to Global Trade Tracker statistics.
As a result, the demand for locally-produced coils increased, which allowed domestic producers to raise prices, although sales levels are still below mills’ bullish targets.
Notable strengthening was reported in Italy, where mills increased offers to €660-685 ($779-808) per tonne ex-works for April shipment, depending on supplier, with some sales heard done at €645-655 per tonne ex-works versus €630-635 per tonne ex-works heard last week.
Estimates of workable prices varied within the wide range of €640-665 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was €651.67 per tonne on Monday, up by €13.67 per tonne from €638 per tonne on Friday January 30.
The index was up by €14.17 per tonne week on week and by €28.55 per tonne month on month.
Most recent offers from integrated mills in Northern Europe came at €670-685 per tonne ex-works for April delivery coil, with sporadic bookings heard done within the range of €650-660 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was €650.83 per tonne on February 2, up by €0.83 per tonne from €650 per tonne on January 30.
The index was up by €4.58 per tonne week on week and by €23.63 per tonne month on month.
In the import segment, some minor tonnage of HRC from India was heard booked in Italy at €600 per tonne DDP last week, CBAM costs included.
Turkish HRC was on offer to Italy at €630-640 per tonne DDP, CBAM costs included.
