The summer holiday period was in full swing across Europe, so trading for green steel was close to zero.
“Green steel is still a niche market [in Europe] and during vacation period there is almost no trading going on,” one trading source in the Benelux region told Fastmarkets.
Fastmarkets’ methodology defines European green flat steel as steel produced with Scope 1, 2 & 3 emissions at a maximum of 0.8 tonne of CO2 per tonne of steel.
Buyers estimated tradable values for green flat products at €100-120 ($116.50-139.80) per tonne, while sellers indicated €170-200 per tonne. No fresh transactions were reported.
Fastmarkets’ assessment of the green steel domestic, flat-rolled, differential to HRC index, exw Northern Europe was €120-170 per tonne on Thursday, unchanged week on week.
Fastmarkets’ assessment of the flat steel reduced carbon emissions differential, exw Northern Europe was also unchanged at €40-60 per tonne on Thursday.
For steel produced in blast furnaces with reduced carbon emissions of 1.4-1.8 tonnes of CO2 per tonne of steel, offers for premiums were indicated at €60-70 per tonne during the assessment week. Buyers’ estimates of tradeable values were €40-50 per tonne.
Sources expect little change in the market until the end of August.
But several sources told Fastmarkets that overseas flat steel suppliers were exploring options of selling their products with reduced carbon emissions content to Europe.
“CBAM is just around the corner and suppliers from Asia are testing waters with green plate, slab, hot-rolled coil offers. However, a lack of clarity regarding CBAM, even just months ahead of the implementation, remains a stumbling block,” a German trader told Fastmarkets.
A public consultation on CBAM, launched by the European Commission in July, will be closed on August 26.
It is aimed at refining the framework and closing potential loopholes, with final legislative proposals amending CBAM expected in the fourth quarter of 2025.
