European steel hollow-sections prices widened upward in the week to Wednesday November 19, with market participants attributing the upward pressure to expected future costs related to the EU’s Carbon Border Adjustment Mechanism (CBAM) amid broader trade-policy uncertainty.
“The rise in prices can only be [because of] CBAM,” one trader said.
Fastmarkets’ monthly price assessment for steel sections (medium), domestic, delivered Northern Europe, was €710-760 ($819-877) per tonne on Wednesday, widening upward by €20 per tonne from €710-740 per tonne a month earlier.
Similarly, Fastmarkets’ monthly price assessment for steel sections (medium), domestic, delivered Southern Europe, was also €710-760 per tonne on Wednesday, also widening upward by €20 per tonne month on month.
A second trader and importer said that sections customers have been very quiet while “waiting for the start of 2026,” with CBAM’s phase 2 scheduled to begin on January 1. It will see EU importers move from reporting only, to paying CBAM charges on embedded emissions, via the purchase of CBAM certificates linked to the EU carbon price.
The same source added that CBAM considerations were causing slight price increases but that most traders would not be fully exposed to the associated risks, with the uncertainties being faced only by those involved in importing goods.
Hot-rolled coil feedstock costs have also moved up over the month, due largely to CBAM-cost considerations for the first quarter of 2026. Market participants said, however, that this was largely due to uncertainty around CBAM and new safeguards and the effect on imports, rather than real demand improvement.
Fastmarkets’ daily calculation of its steel hot-rolled coil index, domestic, exw Northern Europe, was €613.33 per tonne on Wednesday, up by €22.08 per tonne compared with €591.25 per tonne a month earlier.
