Nevertheless, local producers were optimistic about the post-summer uptick in prices amid uncertainty over future regulation on imports.
The most recent offers for material scheduled for delivery in October from mills in the Northern European region varied mainly within the range of €590-610 per tonne ex-works ($686-710), while workable levels were said to vary within the range of €560-580 per tonne exw, depending on volume and supplier.
Fastmarkets’ calculation of the daily steel HRC index, domestic, exw Northern Europe, was €573.75 ($667.34) per tonne on August 22, unchanged day-on-day.
The Italian market continues snoozing due to the ongoing Ferragosto period; therefore, no fresh bookings were heard, with estimates of workable price varying within the range of €540-545 per tonne exw.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €540.83 per tonne on Friday, stable day on day.
Italian mills’ price targets for October tonnages are voiced at €570-580 per tonne exw, while some producers from Northern Europe also reported intentions to increase offers further after the summer break.
Mills’ optimism stems from expectations of lower import volumes in the fourth quarter of 2025 because delivery and custom clearance of these volumes will take place at the beginning of 2026 when the Carbon Border Adjustment Mechanism (CBAM) will come into force, while steel delivered prior to this date may be subject to stricter safeguard measures.
Central Europe
Central European HRC prices rose in the week to Wednesday August 20, despite slow demand from buyers, market sources told Fastmarkets.
According to sources, mills are “pushing for higher prices” following months of muted market growth.
This week, market sources assessed the workable market for domestic HRC at €550-570 per tonne ex-works, compared with €545-565 per tonne ex-works during the previous assessment period.
However, suppliers are finding resistance from buyers, with a distributor source saying that Europe needs to “make a turn” to reverse the “low demand” that has been observed in key segments of the market over recent months.
“The automotive industry is not buying [HRC], instead they are reducing volumes because of high energy costs, while the Asian market remains more competitive,” the source said.
The source also stated that the introduction of the Carbon Border Adjustment Mechanism (CBAM) in January 2026 could also have an effect on the market.
“The CBAM is also going to increase prices, but it’s not going to help the industry because costs will also go up as a result of the duty,” they said.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, domestic, exw Central Europe, was €550-570 per tonne on Wednesday, rising from €545-565 per tonne the previous week.
