HRC prices in the EU remain unchanged; market forecast changes for 2026
European hot-rolled coil prices remained stable on October 28, as market participants changed their views on 2026 due to the introduction of CBAM and increased protective measures.
After the market recently joined forces at Blechexpo, which took place from October 21 to 24, one of the factories noted that the atmosphere was surprisingly positive, despite the fact that sellers had recently increased the level of supply of materials.
However, the plant expressed concern about the threat of cheap finished products entering the market in 2026, which could limit the effectiveness of the European Commission and CBAM protection proposals, as they are not currently covered by the regulation.
According to reports, in January 2026, prices for HRC for sale on the domestic market in Northern Europe were 620-630 euros per ton from the Ruhr factory, with used goods transactions reportedly concluded at these levels.
It was reported that in Southern Europe, offers for domestic HRC ranged from 600 to 610 euros per ton at a factory in Italy.
Platts estimated domestic demand in Northern Europe at 595 euros per tonne at plants in the Ruhr and in Southern Europe at 585 euros per tonne at plants in Italy, which are stable from day to day.
The prospects for imports seemed unclear, as the participants held different views on the availability of raw materials.
"Nothing makes sense, in fact, there is a contradictory mood in the market," said the Italian trader. "Some people still think they will be able to purchase imported goods for safe entry by the end of the year, especially from India."
A trader from Northern Europe noted that many traders are starting to offer DDP-based materials to Antwerp for 2026, as end users seek to reduce their participation in CBAM. He added that he is not sure how CIF-based deals will be concluded for next year.
It was reported that import offers for Taiwanese and Turkish raw materials from Southern Europe ranged from 600 to 700 euros per ton per day in Italy, including potential CBAM costs.
Platts estimated imports of HRC in Northern Europe at 490 euros per tonne CIF in Antwerp and in Southern Europe at 485 euros per tonne CIF in Southern Europe, which has not changed day by day.
Riley Waters | Devbrat Sakha