European domestic prices for hot-rolled steel were virtually unchanged on Wednesday, November 12, as uncertainty remains over new trading rules and subdued demand keeps prices stable, trade sources told Fastmarkets.
According to a distributor source, demand was "terribly low" while the market was preparing for new trade rules, including the EU Carbon Border Regulation Mechanism (CBAM), which is due to enter into force on January 1, 2026.
The source also said that the new rules have become key factors in price growth in the market, while real demand remains low.
In Northern Europe, real prices were estimated at 600-620 euros (694-717 dollars) per ton from the factory.
Fastmarkets' daily hot-rolled steel roll price index for domestic consumption, exw in Northern Europe, was 611.67 euros per tonne on November 12, rising slightly from 610.88 euros per tonne on Tuesday.
The indicator increased by 11.67 euros per ton week-on-week and by 34.17 euros per ton on a monthly basis.
Meanwhile, prices for HRC in Italy declined slightly on Wednesday.
On Wednesday, some estimates of acceptable prices for January shipments at the level of 600-620 euros per ton from the plant were announced.
Later prices for rolls delivered in December were in the range of 580-600 euros per ton from the factory.
The daily price index for Fastmarkets hot-rolled steel for domestic consumption (exw, Italy) on Wednesday was 597.92 euros per ton, which is slightly lower than 598.75 euros per ton on November 11.
The indicator increased by 3.75 euros per ton week-on-week and by 52.92 euros per ton month-on-month.
David Montagner
Fastmarkets.com
