European CRC and HDG prices have remained stable or edged slightly higher over the past two weeks, with mills in both northern Europe and Italy still targeting elevated levels for January-February deliveries. Import trade has all but stalled, as most buyers prefer to avoid exposure ahead of the new CBAM requirements set to take effect in January 2026.
Specifically, in the domestic CRC market, most mills in Italy and northern Europe have continued to target €730-750/mt ex-works, up by €10/mt on the higher end of the range over the past two weeks. Meanwhile, the tradable prices have been estimated at €710-720/mt ex-works levels both in Italy and in northern Europe, which means prices have increased by around €20/mt over the past two weeks.
At the same time, market participants anticipate that mills will push prices higher in the near term, likely raising offers by about €10–20/mt in the next sales cycle. The expected increase is driven by tighter supply as CRC availability has been heavily dependent on imports, but more than half of those import volumes are now subject to antidumping (AD) investigations, including material from India, Japan, Taiwan, Turkey and Vietnam.
In the import segment, offers for CRC have settled at €600-620/mt CFR, depending on the supplier, the same as two weeks ago. Offers for ex-Turkey and ex-South Korea CRC have settled at around $700/mt CFR, which translates to around €600/mt CFR. Besides, offers for ex-Indonesia CRC have been voiced at €620/mt CFR southern Europe. Furthermore, more offers from traders have been reported on DDP basis, with indicative prices standing at €700-725/mt DDP this week.
In the HDG segment, domestic tradable prices both in Italy and in the north of Europe have settled at €710-735/mt ex-works, though mills have been targeting HDG offers for January delivery as high as €750/mt ex-works.
In the import segment, trade has remained limited, with offers for ex-Asia HDG Z100-120 voiced at €700-730/mt CFR, depending on the supplier, versus €670-730/mt CFR two weeks ago. Offers for ex-Indonesia HDG have been voiced at $820/mt CFR, or around €700/mt CFR.
$1 = €0.85
