European hot-rolled steel prices remained stable on Friday, November 14, and sellers were optimistic about short-term sales, despite stable end-user demand and sluggish activity in the spot market, Fastmarkets sources said.
Factories across Europe kept their offers at the same level ahead of negotiations on long-term contracts for 2026, market participants said, adding that manufacturers were focusing on securing favorable terms for long-term contracts with car buyers, while avoiding price cuts on spot sales that could weaken their negotiating positions.
According to the sources, the ongoing uncertainty surrounding the implementation of the EU Border Carbon Control Mechanism (CBAM) for imports and its impact on costs continues to reinforce the optimistic attitude of enterprises.
Northern Europe
The daily price index for Fastmarkets hot-rolled steel in the domestic market, exw in Northern Europe amounted to 612.92 euros per ton on November 14, having increased by 0.59 euros per ton from 612.33 euros per ton on November 13.
.The indicator increased by 6.25 euros per ton week-on-week and by 24.17 euros per ton on a monthly basis.
Trading in the region remained sluggish, as most buyers had sufficient stocks and little need for new volumes, the sources said, while offers from regional plants remained virtually unchanged at about 620-650 euros per ton for January-February delivery.
There were reported supply deals in January at a price of 600-620 euros per ton from a plant in the Benelux region and in Germany.
"The factories are holding back their offers so as not to undermine negotiations on long-term contracts," said one German buyer. "They insist on a significant price increase of more than 100 euros per ton for the 2026[long-term]contracts, but buyers are not ready to agree with this.
Steel Maintenance Centers (SSC) reported that they were purchasing only small amounts, citing weak demand in the secondary market and difficulties in transferring higher raw material costs to their customers.
"In the current conditions, it is impossible to raise prices," said a source in the German SSC. "In addition, import offers are emerging at prices 20-30 euros per ton lower than European prices – not much cheaper, but this is enough to diversify supplies."
Market participants agreed that in the short term, trading activity is likely to remain low, and only small purchases based on necessity will be made.
Italy
In Southern Europe, meanwhile, Fastmarkets' daily hot-rolled steel price index is at
