Article

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.