European steel-beam prices have fallen in the month to Wednesday November 19, even as other steel markets – particularly hot-rolled coil (HRC), plate and hollow sections – have strengthened.
Fastmarkets’ monthly price assessment for steel beams, domestic, delivered Northern Europe was €700-740 ($806-853) per tonne on Wednesday, down by €10-30 per tonne from €730-750 per tonne a month earlier.
Similarly, Fastmarkets’ monthly price assessment for steel beams, domestic, delivered Southern Europe was €700-740 per tonne on Wednesday, down by €10-30 per tonne month on month from €730-750 per tonne.
Flat steel prices have risen sharply in recent weeks, with expectations of future Carbon Border Adjustment Mechanism (CBAM)-related carbon costs underpinning higher levels, while broader trade-policy uncertainty – including around CBAM and possible EU safeguard measures – has contributed to reduced import competition.
Phase 2 of CBAM, set to begin on January 1 2026, will see EU importers move from reporting only to paying CBAM charges on embedded emissions, via the purchase of CBAM certificates linked to the EU carbon price.
The recent strength in HRC has led to the hollow-sections market widening upward because HRC is the product’s main feedstock.
Beams prices, however, have moved against the trend. The product continues to face weak demand in Europe, and its scrap-based production route is expected to incur significantly lower CBAM-related costs than flat steel, which is largely produced via a higher-emissions blast-furnace/basic-oxygen-furnace (BF/BOF) route.
As a result, domestically delivered beams in European markets have not benefited from the same CBAM-driven price support seen in flat steel markets in recent weeks.
One trader noted that while CBAM could lend support for higher beam prices next year, “the main effect will be on flat products,” adding that market sentiment currently remains clouded by political uncertainty around both CBAM and possible safeguard measures.
Despite these structural factors, any sustained recovery in European steel prices will still depend on improvements in underlying economic activity and demand, the source added.
Market participants also said it was still too early to gauge exact CBAM costs, noting the provisional nature of the latest leaked EU’s draft benchmarks and adopting a wait-and-see approach.
Meanwhile, scrap feedstock costs moved up in the month.
Fastmarkets’ calculation of its daily index for steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey was $351.33 per tonne on Wednesday, up $7.40 per tonne month on month from $343.93 per tonne.
