The European HRC market remained quiet on Monday December 29, with most players absent due to year-end holidays. Many sources said they will return to work after the first week of January.
As a result, no fresh business was heard during the day.
Before the Christmas holidays, buyers secured sufficient volumes for January delivery and partly for February, while mills began offering coils for March delivery.
Sellers’ post‑holiday expectations were bullish, driven by upcoming changes in import regulations — notably the Carbon Border Adjustment Mechanism (CBAM), which takes effect on January 1, 2026, and the introduction of a new safeguard system later that year.
The latest official offers for February/March-delivery HRC from Northern European mills were heard at €630-670 ($742-789) per tonne ex-works or delivered, but recent deals and tradable values were still hovering below at €620-630 per tonne ex-works.
With the quiet market, Fastmarkets’ calculation of the daily steel HRC index, domestic, exw Northern Europe was €627.5 ($738.53) per tonne on Wednesday December 29, unchanged since Wednesday December 24. The index was up by €1.25 per tonne week on week and by €12.5 per tonne month on month.
The corresponding, Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €623.12 per tonne ex-works on Monday, stable from Wednesday. The index was up by €3.12 per tonne week on week and by €20.62 per tonne month on month.
Offers of February-delivery HRC were heard at €610-640 per tonne ex-works, depending on supplier.
Latest buyers’ estimates of workable prices came at €610-620 per tonne ex-works before Christmas.
