On Thursday, October 30, the European hot-rolled steel market was quiet, with only sporadic activity reported recently. Prices remained stable, but still below the target offers, Fastmarkets sources said.
The daily price index for Fastmarkets domestic hot-rolled steel, exw in Northern Europe, was 603.75 euros ($702.24) per ton on Thursday, unchanged from day to day.
The indicator increased by 3.75 euros per ton week-on-week and by 26.25 euros per ton month-on-month.
The Italian HRC was offered in Germany at a price of 640-650 euros per ton for delivery in January. The roll delivered in December was mostly sold out, and some "remaining volumes" were offered at a price of 620 euros per ton.
.Integrated plants in Germany and the Benelux countries were counting on 620-650 euros per ton of finished products for delivery in January.
The new levels have not yet been gradually implemented into transactions, but customers recognize that this will eventually become a reality, given the expected significant reduction in imports as a result of the introduction of the EU Border Carbon Control Mechanism (CBAM), as well as a new system that will replace the current safeguards.
Despite the isolated transactions at a price of 610-620 euros per ton from the plant, the overall market mood remained optimistic.
"Trade is not exactly booming, but we have more requests, and we sell small volumes," said a source at the plant in Northern Europe.
"Buyers are holding back, but we are not in a hurry — we have already closed the volumes for 2025 and we can wait. In the first quarter of 2026[HRC]prices will be higher, but mainly due to the impact of CBAM and protective measures, demand will not improve," said a source at the plant in Germany.
According to buyers, the January price may be 600-620 euros per ton from the manufacturer.
Some customer sources estimated the market lower at 580-590 euros per ton from the factory, but most sources agreed that prices below 600 euros per ton from the factory were "in the past."
The corresponding daily price index for Fastmarkets hot-rolled steel in the domestic market, exw in Italy, was calculated on Thursday at 593.33 euros per ton, which is 0.05 euros lower compared to 593.38 euros per ton on Wednesday, October 29.
The Italian index rose by 3.33 euros per tonne week-on-week and by 43.33 euros per tonne month-on-month.
Italian suppliers said they were receiving 590-600 euros per tonne of finished products as part of deals to supply HRC in December.
One integrated plant in the country expected to receive about 630 euros per ton of shipped products (about 610-615 euros per ton of finished products) for delivery in January.
The European plant offered to supply HRC in January at a price of 680 euros per
