European steel market participants expect prices, inventories and production levels are to remain stable in July, Platts European Steel Sentiment Survey data showed July 30.
Price index
Participants’ price expectations were mostly steady for July, with the overall index for July standing at 47.50 points, down from 64.29 in June and now the third month in a row where expectations have fallen.
Trader, stockholder and service center sentiment on price was measured at around 45 points, while producers were neutral on 50 points.
Buyers’ have largely adopted a wait-and-see approach in recent weeks in anticipation of the final country-specific quotas for the new safeguard mechanism, which were published June 30, leaving activity on a subdued level. Market reaction has remained limited, but participants expect the situation to develop over the next few weeks and months when the safeguards effect truly kicks in.
“I think safeguards will have some positive effect on prices, maybe not up like a rocket, but I think by September there will be increases,” one Germany-based distributor said.
Platts, part of S&P Global Energy, assessed domestic hot-rolled coil in Northern Europe at Eur680/mt ex-works Ruhr, steady month over month.
Platts last assessed rebar in Northwest Europe June 24 at Eur675/mt ex-works, also stable across the same time period.
| Month: | Feb 2026 | March 2026 | April 2026 | May 2026 | June 2026 | July 2026 |
| Index: | 76.88 | 91.67 | 92.50 | 75 | 64.29 | 47.50 |
Production index
The overall index for production stood neutral at 50 points, down from the 57.14 points observed in June, suggesting the market feels production will remain steady in July.
Trader, stockholder, and service center sentiment increased over the month from 39.3 points in June to 50 in July. Producer sentiment decreased from 75 points to 50.
The market usually enters a quieter stage in the summer months as participants take holidays and producers conduct maintenance in their plants, as reflected in current sentiment.
| Month: | Feb 2026 | March 2026 | April 2026 | May 2026 | June 2026 | July 2026 |
| Index: | 68.75 | 58.33 | 61.25 | 47.50 | 57.14 | 50 |
Inventory index
The overall index for inventory was measured at 48.33 points, a marginal uptick from the 46.43 points seen in June.
This was made up of around 55 points from traders, service centers and stockholders, and around 42 points from producers.
Sources have continued to note throughout June that inventory levels are high after another month of low activity and weak demand, with the index suggesting this will be the case in July too.
| Month: | Feb 2026 | March 2026 | April 2026 | May 2026 | June 2026 | July 2026 |
| Index: | 53.75 | 33.33 | 52.50 | 50.83 | 46.43 | 48.33 |
Author: Riley Waters
