Uncertainty continues to define Europe’s flat steel market, with prices for cold rolled coil (CRC) and hot dip galvanized (HDG) holding largely steady over the past two weeks. Buyers have shown little appetite for imports, preferring to pause rather than commit amid shifting policy and trade conditions. Many point to the upcoming Carbon Border Adjustment Mechanism (CBAM) as a key source of hesitation, with questions lingering over how the new framework will affect costs and competitiveness. Adding to the cautious mood, the European Commission’s antidumping (AD) investigation into CRC imports, launched around one month ago, continues to weigh on sentiment.
Specifically, in the domestic CRC market, mills in Italy have been offering their materials at €640-650/mt ex-works, the same as two weeks ago. In the north, most offers have been voiced at €670-690/mt ex-works, the same as last week, though workable prices have been reported at €660-670/mt ex-works, up by €10-20/mt over the past two weeks.
In the import segment, most offers for CRC have moved sideways over the past week, standing at €610-650/mt CFR, depending on the supplier. "As AD investigations on CRC from India, Japan, Taiwan, Turkey and Vietnam commence, market participants have put their purchasing on hold," a Spain-based trader told SteelOrbis.
Market observers note that the case may curb near-term demand for imported CRC. While this could eventually redirect some buying interest toward European producers and lend support to domestic prices, the short-term impact is likely to be muted given continued weak end-user consumption.
“Despite the steady price environment, market activity remains subdued, and few expect a meaningful pick-up until both regulatory and trade uncertainties start to ease,” a market insider said.
In the HDG segment, domestic offers from mills in Italy have remained relatively stable at around €655-685/mt ex-works, while offers from mills in the north of Europe have been reported at €680-690/mt ex-works, moving sideways week on week.
In the import segment, trade has remained limited, with offers for ex-Asia HDG Z100-120 voiced at €680-700/mt CFR, depending on the supplier, though lower offers at €670/mt CFR have been also voiced for some ex-Asia origins, like those from Vietnam, according to sources.
