In the European rolled steel market, a standoff between buyers and sellers persisted during the week until September 25. Distributors have sufficient stocks purchased earlier at lower prices, so they are in no hurry to increase new volumes. Manufacturers, in turn, are holding quotes, hoping that the market will remain upward in the long run.
According to market participants, the real need for replenishment may appear only by the end of the year. At the same time, the recovery of stock prices lags behind the growth of factory prices.
Despite the weak trade activity, domestic prices for rolled steel in Europe rose slightly over the week. The market was supported by higher production costs and lower import availability after the quota system was changed and the Carbon Boundary Adjustment Mechanism (CBAM) was introduced. New regulations have made imports more risky, and buyers have become more likely to pay attention to European material.
One of the service centers noted:
There is little demand, but buyers understand that they have no reason to seek lower prices, and soon they will have to pay more per roll.
Market participants expect that technical problems at a number of European enterprises will reduce supply within the region and support positive sentiment. It is reported that ArcelorMittal has reduced the load of blast furnace No. 5A at its plant in Eisenhuttenstadt in Germany, and the Italian Arvedi has suspended the operation of one of the hot rolling mills.
In addition, according to the decision of the Milan Court of Appeal, the Acciaierie d'Italia (ADI) company experienced interruptions in steel production. The plant should shut down the hot shop by October 28. Although the company did not have volumes for spot buyers, a reduction in supply from the market may force ADI's contract customers to look for an alternative in the spot segment.
In general, market participants believe that any further reduction in supply, together with new regulatory restrictions, will push up prices for hot-rolled coils in Northwestern Europe.
In the domestic market, several deals were concluded at a price of 740-760 euros per ton, while the plants expected 770-800 euros per ton. Import offers remained limited due to the influence of European regulation, and in Antwerp, traders' offers were recorded at the level of 725-735 euros per ton.
The availability of the cold-rolled roll decreased after a major German manufacturer sold off the entire volume for 2026 and other companies cut supplies. Manufacturers have focused either on selling cheaper hot-rolled coils or on more marginal products, such as hot-dip galvanized coils.
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