European Flat Steel Prices Reach Highest Levels Since 2024 Amid Trade Measures
Domestic flat steel prices in Europe have increased significantly, reaching their highest levels since 2024, driven by tightening EU trade defenses and the full implementation of the Carbon Border Adjustment Mechanism. Northern Europe's hot-rolled coil (HRC) was assessed at Eur660/mt, while Southern Europe's HRC was at Eur655/mt. Proposed changes to the EU safeguard regime could further restrict imports. Additionally, downstream product prices have surged due to limited domestic capacity and ongoing anti-dumping investigations.
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European domestic flat steel prices have surged to their highest levels since 2024, with Northern Europe's hot-rolled coil (HRC) assessed at Eur660/mt and Southern Europe's at Eur655/mt. The increases are attributed to tightening EU trade defenses and the Carbon Border Adjustment Mechanism, which complicates import deals.
Proposed changes to the EU safeguard regime, effective July 1, may further limit imports. Domestic mills have raised HRC price targets for Q2 deliveries to Eur750/mt. Concurrently, downstream product prices, including cold-rolled coils and hot-dipped galvanized steel, have risen sharply due to reduced import flows and limited domestic capacity.
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