Domestic prices for steel hot-rolled coil in Europe moved in different directions on Thursday September 25. While in Northern Europe prices moved sideways, in the south prices picked up somewhat, amid limited offers.
In Northern Europe, market participants estimated the workable price for HRC around €570-580 ($666-677) per tonne ex-works, but with no sales heard during the day.
Fastmarkets’ calculation of the daily steel hot-rolled coil index, domestic, exw Northern Europe, was €575.00 per tonne on Thursday, stable day on day.
The Northern European index was down by €5.50 per tonne week on week, and down by €1.25 per tonne month on month.
The Italian market was also largely quiet. One key regional supplier was firm in his position because local supply was limited, while buyers which formerly procured foreign material put this business on pause.
“Third-country imports are ruled out at the moment, no matter the offer price, because long lead times create a high risk of these goods being customs-cleared only after January 1, 2026,” a mill source told Fastmarkets. This will be the date when the EU’s Carbon Border Adjustment Mechanism (CBAM) comes into force.
A trading source confirmed that there was no interest in bookings of imported material at the moment.
In such conditions several sources reported local material to be available at prices below €570 per tonne ex-works, but for large tonnages a price of €550 per tonne ex-works was said to be possible.
Nevertheless, no business was heard done at these higher prices.
“At the moment, the market is in standby mode because real demand is pretty flat, while stocks are at average-high levels,” a seller source said.
Earlier this week, market participants estimated the workable to be in the range of €530-550 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €550.00 per tonne ex-works on Thursday, up by €6.67 per tonne from €543.33 per tonne on Wednesday.
The Italian index was down by €0.63 per tonne week on week, but up by €9.17 per tonne month on month.
