A buyer source, however, said that mills could deliberately keep some December volumes in stock until January because of an expected price increase connected with the introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM) in January 2026.
Import regulatory measures were now considered the only driver for growth of local prices, with actual demand leaving much to be desired.
In Northern Europe, January delivery offers varied within the range of €620-650 ($716-751) per tonne ex-works, with the exception of a re-roller in the Benelux area, which offered January-rolling coil at €600 per tonne ex-works.
Estimates of workable prices were heard at €600-620 per tonne ex-works, but there have been few bookings so far, with market sources saying that the active phase will come in several weeks’ time. This price compared with €590 per tonne in the most recent sales of December-delivery cargoes.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was €610.00 ($704.23) per tonne on November 10, up from €606.67 per tonne on November 7.
The index was up by €8.75 per tonne week on week, and up by €32.50 per tonne month on month.
In Italy, the situation was similar with few volumes left for December.
Coil for January delivery was offered at €615-620 per tonne ex-works with estimates of workable prices being closer to €600 per tonne ex-works. No January bookings were heard on November 10, however.
Most recent sales of December-delivery coil were heard within the range of €580-590 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €596.25 per tonne on Monday, up by €0.25 per tonne from €596.00 per tonne on Friday.
The index was up by €1.25 per tonne week on week, and up by €51.25 per tonne month on month.
