Demand for imported hot-rolled coils in Europe remained mostly stable in the week to Wednesday, October 5, with activity low despite additional pressure from the looming new EU regulatory framework, Fastmarkets sources said.
The sources said that current price levels are "acceptable", but the expected introduction of the Carbon Emissions Control Mechanism (CBAM) and new protective measures for steel in 2026 creates some uncertainty.
"There are offers, but you can't be completely sure about CBAM and guarantees," one source said, adding that some market participants don't want to "risk" trading given the uncertainty about the new rules.
"There are many questions, especially in connection with the new guarantees, which will be very tough for importers," the source added.
In October, the European Commission unveiled its new plans to limit steel imports, which aim to reduce duty-free import quotas by about 47% while imposing a 50% ad valorem duty on all volumes exceeding the threshold.
Fastmarkets' weekly price estimate for HRC steel imported to cfr's main port in Southern Europe was 480-520 euros ($551-597) per tonne on Wednesday, down from 470-520 euros per tonne the previous week.
It was reported about Turkey's offer at a price of 520 euros per ton CFR, including the EU anti-dumping duty.
And offers from Indonesia and Malaysia came at a price of about 480-490 euros per ton CFR.
.Other offers from Asia came at a price of about 515-530 euros per ton of CFR, excluding the cost of CBAM.
In Northern Europe, HRC was offered from India at a price of about 495-500 euros per ton CFR.
. An offer from Indonesia was reported at a price of 485 euros per ton CFR, while other offers from Asia were reported at a price of about 515-530 euros per ton CFR, excluding CBAM costs.
Fastmarkets' weekly price estimate for HRC steel, import, cfr's main port in Northern Europe on Wednesday was €485-520 ($557.06-597.26) per tonne, unchanged week to week.
David Montagnier
Fastmarkets.com
