Industry sources said the market for green steel remained very patchy in Europe.
“Trading remains very limited for now. We sell some small tonnages here and there, but the volumes are [minimal], and most of them go to the Nordic States,” a mill source said.
Fastmarkets’ weekly assessment of the green steel, domestic, flat-rolled, differential to HRC index, exw Northern Europe was €170-200 ($194-229) per tonne on Thursday, flat week on week.
Fastmarkets’ methodology defines European green flat steel as “steel produced with Scope 1, 2 & 3 emissions at a maximum of 0.8 tonnes of CO2 per tonne of steel.”
For steel that falls under such specifications, offers from major European suppliers were stable at premiums of €200-300 per tonne. Offers at the higher end of the range were mainly reported from Nordic-based suppliers.
Latest transactions for flat steel produced with emissions below of 0.8 tonne of CO2 per tonne of steel were reported at €170-200 per tonne for June-July shipment material, but mainly for small-size tonnages.
A major buyer told Fastmarkets they have not made any green steel booking for a few months due to poor market fundamentals.
“Unfortunately, we have other problems than green steel now — Trump tariffs, safeguards, shrinking production and consumption,” they told Fastmarkets.
“You only book green steel if you have a customer to sell it to, so it’s a back-to-back business. Nobody is buying [green steel] for stockholding,” another buyer said.
Europe’s economic slowdown — particularly the decline in major steel-consuming sectors like automotive and construction — has also impacted the green steel market, hindering the adoption of low-carbon products.
Notably, European Steel association Eurofer has downgraded its outlook for both apparent and real steel consumption in the EU’s 27 member states for 2025 in the report published on Thursday.
“The overall evolution of steel demand remains subject to very high uncertainty,” Eurofer’s report said. “No improvement in apparent steel consumption is expected before the fourth quarter of 2025, and consumption volumes are expected to remain far below pre-pandemic levels.”
Output in the automotive sector — a key consumer of green steel — is expected to decline by 2.6% this year amid growing global uncertainty and very low confidence, before a projected recovery of 1.9% in 2026, according to Eurofer. However, absolute output volumes will remain well below 2019 levels.
Meanwhile, Fastmarkets’ assessment for the green steel, differential to steel reinforcing bar (rebar), domestic, delivered Northern Europe was €20-30 per tonne on Wednesday June 4, stable week on week.
Fastmarkets’ methodology defines European green long steel as “steel produced with Scope 1, 2 & 3 emissions at a maximum of 0.5 tonne of CO2 per tonne of steel.”
Meanwhile, electric arc furnace (EAF) producers — who use scrap as feed — typically emit around 0.8 tonne of CO2 per tonne of steel.
Buyers’ estimations of achievable price came in at €20-30 per tonne in the assessment week — unchanged over the past seven days.
No fresh trades were reported.
