Demand for imported hot-rolled coil in Europe remained mostly stable in the week to Wednesday October 5, with activity subdued despite added pressure from the EU’s impending new regulatory framework, sources told Fastmarkets.
Sources said the current price levels were “workable,” but the expected implementation of the Carbon Border Adjustment Mechanism (CBAM) and new steel safeguard measures in 2026 was creating a degree of uncertainty.
“There are offers, but you can’t really be sure with CBAM and safeguards,” one source said, adding that some in the market participants do not want to “take the risk” of trading given the uncertainty over the new regulations.
“There are a lot of question marks, especially with the new safeguards, which will be very tough on importers,” the source added.
The European Commission unveiled its new steel import safeguards plans in October, which aim to cuts tariff-free import quotas by about 47%, while imposing a 50% ad valorem duty on all volumes exceeding the threshold.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Southern Europe was €480-520 ($551-597) per tonne on Wednesday, narrowing up from €470-520 per tonne the previous week.
An offer from Turkey was reported at €520 per tonne CFR, including the EU anti-dumping duty.
And offers from Indonesia and Malaysia were reported at around €480-490 per tonne CFR.
Other offers from Asia came in at around €515-530 per tonne CFR, excluding CBAM costs.
In Northern Europe, HRC was on offer from India was at around €495-500 per tonne CFR.
And an offer from Indonesia was reported at €485 per tonne CFR, with other offers from Asia reported at around €515-530 per tonne CFR, excluding CBAM costs.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Northern Europe was €485-520 ($557.06-597.26) per tonne on Wednesday, unchanged week on week.
