Market participants said European hot-rolled coil producers’ order books are well-filled for 2026 despite muted demand in recent weeks. Reduced imports following the introduction of a stricter safeguard system in July this year were one of the key factors supporting local producers.
In these conditions, mills in Northern Europe are gradually testing the market with higher prices. The market leader was heard voicing offers at €800 ($896.27) per tonne delivered, equivalent to €780-785 per tonne ex-works. Another seller from Northern Europe said he expects the price to reach €800 per tonne ex-works by the end of the year.
These levels, however, have not yet materialized in transactions, with the highest price heard achieved at €760 per tonne ex-works during the day.
A buyer source reported a recent transaction in the region at €750 per tonne ex-works, while another buy-side source provided an indication at €740-750 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at €753.75 ($844.456) per tonne on Monday, October 26, up by €4.75 per tonne day on day from €749 per tonne on Friday, October 23.
The index was up by €5 per tonne week on week and by €12.08 per tonne month on month.
In the Italian market, suppliers were also trying to achieve higher prices.
“Everyone is trying to increase to €760-770 per tonne delivered (€740-755 per tonne ex-works),” a buyer from Italy said, adding that the lowest sales prices available now are €740 per tonne ex-works.
Another market source estimated tradeable levels in Italy within a wider range of €730-750 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €741 per tonne on October 26, up by €1.94 per tonne day on day from €739.06 per tonne on October 23.
The index was down by €0.88 per tonne week on week but up by €3.5 per tonne month on month.
Several market sources reported that Northern European suppliers were increasing activity in the southern region due to reduced availability of material, caused by production issues that local suppliers encountered over the past few months, as well as lower imports.
One source said transactions took place at €780-790 per tonne delivered, but this information could not be confirmed by the time of publication.
