European supplies of rolled and environmentally friendly steel: prices for rolled steel in Northwest Europe are rising despite the seasonal lull
The firmer mill offers saw the northwest European coil price move in the week to August 8th after the last round of market supply, the price is rising, with trading at a level not seen since early June.
McCloskey's sources in the steel supply chain reported the conclusion of deals for the supply of hot-rolled coils (HRC) at a price of 580-590 euros per ton from the factory or with delivery to Northwestern Europe towards the end of the week, which is a positive signal for the domestic market, which is experiencing difficulties due to low demand and active import penetration.
Although the ongoing holiday period means that significant volumes are unlikely to change within a couple of weeks, deals with higher prices will strengthen factories' attempts to raise prices above the "red line" in the second half of 2025 and in preparation for the September replenishment.
In Southern Europe, where import pressure is traditionally higher, the market has not been able to achieve the same growth as in the North, and has only slightly increased to the level of transactions last reported, in the range of 530-540 euros per ton for export. It was reported that buyers were absent from the market, enjoying the holidays, but did not offer HRC at a price of 570-580 euros per ton from the factory or showed great interest.
It is reported that imports were available at offer prices of 500 euros per ton CIF from Italy from Indonesia; 520 euros per ton CFR from India; 530 euros-540 euros per ton CFR from Algeria; or, subject to duties from Turkey at a price of 530-540 euros per ton CFR.
Manufacturers and distributors similarly assessed the high inventory levels in the European market, although some suggested that more substantial inventory replenishment would be needed to improve sales to end-users with delivery in Q1 2026, or at least reduce inventory at a pace more acceptable to increase market liquidity in the future.
Any improvement in demand should be accompanied by a decrease in the attractiveness of imports, as the market is showing a more optimistic mood before the end of the year. The deadlines for fulfilling import orders increase the obligation to pay duties under the Carbon Control Mechanism at the border, and rumors about the early replacement of EU protective measures against steel also create too high a risk for many European steel importers.
However, while rumors of an early replacement for the Protection of European Steel Trade are rightfully based on the campaign of the national steel manufacturers association Eurofer on this issue, but the European authorities have not confirmed anything or given convincing instructions, which makes some doubt the practicality.
"Mid-2026 - when the old measures expire –