
Italian coil prices tick higher
Coil prices in Italy are seeing a gradual increase, primarily driven by the low volume of import contracts.
According to sources, hot rolled coil values have hit €590-600/tonne ($615-625/t) base delivered. Both buyers and sellers anticipate transactions will reach €620/t base delivered in February, Kallanish hears.
Hot-dipped galvanised coil is at approximately €670-680/t base ex-works on average. Producers are requesting prices in the range of €700-720/t delivered for the commodity grade.
Current lead times are for March and April; however, some quotes are still indicating the end of February.
Cold rolled coil existing contracts are trailing behind at €650-660/t base delivered. Competitive CRC import offers are exerting downward pressure on prices, reportedly in the range of €640-650/t cfr Italy.
One producer tells Kallanish he is asking for €730/t base delivered for HDG and €720/t for CRC. He says he is achieving these levels but only for small orders.
Both buyers and sellers concur that demand has been limited in January, and consumption continues to underperform as volumes are absent. While raising current prices may contribute to revenue, it is insufficient to achieve profitability.
Compared to pre-Covid, the €150/t spread between HRC and HDG is no longer sufficient. Given elevated energy prices and various high production costs, including HRC safeguard duties that steel importing processors have incurred in recent months, HDG levels should be in the range of €770-780/t delivered. However, the market is currently not approaching this benchmark.
“We are making small steps forward with prices. Increases are slow to happen but compared to the figures we had in December, we have achieved much better values considering that demand is at its lowest levels,” a producer comments.
Current demand from eastern Europe is the most robust within the EU; however, enquiries are also emerging from other locations, including Spain, France, and notably Germany, following a long absence, two sellers agree.
Italian demand appears to be subdued, as buyers acquired significant volumes both in the domestic market and through imports during November.
Natalia Capra France

US leads available EU stainless CRC TRQ
Significant portions of EU fourth-quarter tariff rate quota (TRQ) allocations for stainless cold-rolled sheet and strip remain available for several countries, with the exception of Taiwan and Turkey, Kallanish notes from the EU customs portal.
Taiwan completely exhausted its allocation of 46,583 tonnes on 28 October. Turkey consumed 85% of its allocation, leaving only 3,493t available out of a Q4 allocation of 22,910t.
South Korea, having the largest single-country allocation of 63,756t in Q4, has 29,845t or 47% still available. South Africa has also shown moderate usage, with 14,817t or 48% of its TRQ available.
Countries subject to safeguard measures have 70,101t or 64% of their total TRQ allocation available.
India has also underutilised its Q4 quota allocation, having 45,863t or 84% of its allocation available as of 11 December.
The US has the highest available quota, with 45,955t remaining, representing 97% of its total Q4 allocation.
Origin | Quota 01.10.24- 31.12.24 |
Transferred | Total | Balance | Awaiting allocation |
Available | Available TRQ % |
South Korea | 50,182 | 13,575 | 63,756 | 35,014 | 5,169 | 29,845 | 47 |
Taiwan | 46,535 | 48 | 46,583 | – | – | – | – |
India | 31,103 | 23,381 | 54,483 | 46,027 | 164 | 45,863 | 84 |
South Africa | 27,064 | 3,607 | 30,672 | 14,958 | 141 | 14,817 | 48 |
United States | 25,305 | 22,190 | 47,496 | 45,990 | 34 | 45,955 | 97 |
Türkiye | 21,057 | 1,853 | 22,910 | 3,546 | 53 | 3,493 | 15 |
Countries subject to safeguard measures | 66,853 | 42,373 | 109,226 | 70,488 | 387 | 70,101 | 64 |
United Kingdom* | 32 | 22 | 54 | 49 | – | 49 | 90 |
*to Northern Ireland from other parts of the UK
Source: EU TARIC, as of 11 December. Calculated by Kallanish
Elina Virchenko UAE

Northwest Europe CRC prices come under pressure
Coil prices in Europe continue to soften further as the summer nears its end, with cold-rolled coil struggling to maintain its value against hot-rolled and galvanized coil.
CRC production can cost nearly the same as galvanized-coated coil, according to a German industry senior. The re-rolling requires re-heating, while the process for galvanising HRC undergoes a heating effect during the zinc bath.
“That’s why certain sorts of CRC match the costs of galvanized coil,” he says.
Additionally, many mills can roll HRC to low thicknesses under 1mm that elsewhere require extra cold-rolling.
Traditionally, hot-dip galvanized coil tends to be at least €100/tonne ($110) higher than HRC, and CRC around €80 higher.
Some buyers in Germany and the Benelux confirm this relation, giving the lower current end for HRC from domestic mills at €580/t ex-works, and that of CRC at €660-670. HDG remains stronger, still holding at above €700.
Until a month ago, CRC prices had also held at above €700, but have since notably given in.
For months, mills had little interest in making CRC because of import pressure, industry observer tells Kallanish.
When European prices were still €20-30 higher a month ago, CRC imports could be had for €660/t delivered Ruhr. Domestic pricing has meanwhile closed in on import prices.
One German consultant with a proprietary forecast model assessed CRC already last month at around €680. That was only €60 above the HRC price of €620 that prevailed then, and confirmed the impression of many that the HRC-CRC gap is narrowing.
A Dutch service centre points at the “low appetite” from the automotive sector, a main consumer of CRC. This is especially painful for the integrated mills with their automotive-grade qualities.
According to him, demand from automotive for steel is 10-15% lower than last year.
Christian Koehl Germany

Prices for European CRC, HDG slide on weak demand
For cold-rolled coil, producers were avoiding giving firm offers, because they were unable to compete with much cheaper imports, several sources said.
“Energy costs remain quite high again across Europe, and annealing [the heat treatment procedure for CRC production] is very energy-intensive,” a mill source in Europe said.
“CRC is normally a product coming from Northern EU mills to Italy and [Northern EU mills] are not interested in supplying Southern EU/Italy at competitive prices,” a distributor said.
Buyers estimated tradable prices for CRC in Southern Europe at €800-820 ($860-881) per tonne ex-works.
Offers were reported around €840-850 per tonne delivered (€825-835 per tonne ex-works).
As a result, Fastmarkets’ price assessment for steel cold-rolled coil domestic, ex-works Southern Europe was €810-825 per tonne on Wednesday, down by €15-20 per tonne week on week from €830-840 per tonne.
Sources said that competitive offers from overseas suppliers were also dragging European prices downward. Transaction for South Korea- and Taiwan-origin CRC with April shipment was reported at €740-750 per tonne CFR to Southern Europe in early February.
During the assessment week, the import market was quiet due to Lunar New Year celebrations in Asia.
HDG
Competition from imports was less intense in HDG market because overseas mills were unable to supply the full range of grades and dimensions required by European buyers, Fastmarkets understands.
However, slow real demand was pushing prices down, source said.
Southern European producers were heard to have reduced offer prices to €850-860 per tonne per tonne ex-works for HDG, in comparison with the €880 per tonne ex-works reported in January.
Most suppliers could still offer April-delivery HDG, which indicated weak order books, sources suggested.
Buyer’s estimation of tradeable values for HDG was no higher than €860-870 base delivered (€845-855 per tonne ex-works)
As a result, Fastmarkets’ price assessment for steel hot-dipped galvanized coil domestic, ex-works Southern Europe was €845-855 per tonne on Wednesday, down by €15 per tonne from €860-870 per tonne seven days ago.
Overseas HDG offers to Europe were rare due to Lunar New Year celebrations in Asia.
The most recent offers from Vietnamese suppliers for 0.5mm HDG with Z100 coating were said to be aiming for $880-890 per tonne CFR to Southern
Europe. However, due to a persistent downtrend in global HRC markets, most sources expect Vietnamese suppliers to return with lower offers next week.

EUROFER welcomes anti-circumvention investigations on imports of stainless CRC
The Commission initiated on 14 August two anti-circumvention investigations regarding possible circumvention via Taiwan, Turkey and Vietnam of the anti-dumping and anti-subsidy measures imposed in 2021 and 2022 against imports of stainless steel cold rolled flat products from Indonesia. EUROFER welcomes the openings and the immediate registration of the imports from those countries towards a possible retroactive application of the existing duties.
“Since the imposition of both anti-subsidy and anti-dumping measures, the direct imports of Indonesian stainless steel cold rolled flat products (SSCR) virtually disappeared”, said Axel Eggert, Director General of the European Steel Association (EUROFER). “However, the unfair practices and in particular the massive support granted to local producers by the Indonesian and Chinese governments through raw material manipulation and financing under the Belt and Road initiative are now exported from Indonesia to third countries as stainless slabs or stainless hot rolled coils that are then re-exported as finished stainless steel, including SSCR, into the EU27 market”.
A massive amount of EU imports of SSCR from the targeted third countries are in fact indirect imports from Indonesia, with Indonesian slabs or hot rolled coils undergoing only limited processing before being re-exported to the Union. These flows of indirect imports constitute a significant share of the exports of SSCR from these countries to the EU, starting to pick up over the course of the investigations in 2021 and skyrocketing after the imposition of the measures in 2022.
“Those indirect imports show clear evidence of circumvention, similar to the practices already recognized and addressed by the Commission in the previous circumvention investigation on imports of stainless hot rolled sheets and coils from Turkey. The immediate registration of the imports from Taiwan, Turkey and Vietnam is therefore crucial to ensure the effectiveness of the existing measures”, concluded Mr. Eggert.

Summer demand slump downs Turkey’s coated steel prices
Turkey’s coated flat steel market experienced reduced activity on Monday, with prices slightly down due to sluggish demand both domestically and in export markets amid the ongoing holiday season, market participants inform Kallanish.
Availability of September-shipment coated steel from domestic mills exerted some pressure on prices. However, this situation was anticipated and therefore the impact on prices was limited.
On exports, some producers expected increased demand for Turkey-origin coated steel from Ukraine, whose buyers will use this to substitute for China-origin supply after Ukraine imposed a definitive anti-dumping duty on Chinese product effective 12 August.
Turkish domestic prices
Product | Price, ex-works, cash | W-o-w change, $/t |
CRC 1 mm | $760-800/t | -20/+10 |
HDG 0.50mm Z60 | $830-855/t | 0/-15 |
HDG 0.50mm Z100 | $830-875/t | 0/-15 |
PPGI 0.50mm Ral 9002 5+15 | $925-980/t | 0/-10 |
HDG 2.00mm Z60 | $760-800/t | -10-15 |
Source: Kallanish market survey
Elina Virchenko UAE