Germany HRC prices edged higher towards the €550–555/ton range by the end of the month. Meanwhile, in Italy, the market closed July at around €525–530/ton ex-works. Italian producers, however, maintained a bullish outlook for the fourth quarter, continuing to offer September-delivery HRC at €540–550/ton, Spain is €550/ton. UK HRC market around DDP West Midlands £/t 505 - 515.
The introduction of the EU's Carbon Border Adjustment Mechanism (CBAM), along with the revision of existing safeguard measures, has had a tangible impact on the market. Several buyers across Italy and Northern Europe reportedly suspended overseas orders, citing concerns over rising import costs under the new regulations.
Import activity did not come to a complete halt. A small Turkish shipment was sold into Italy at €495/ton CFR, with new offers surfacing around €510/ton CFR. An Indian cargo was transacted at €490/ton CFR, while HRC from Algeria changed hands at €515/ton CFR. Although no fresh offers have been reported from Indonesia, previously booked volumes at €450–460/ton CFR are still being shipped.
On the supplier side, sentiment remains more optimistic. Mills with what they describe as “satisfactory” order books are aiming for higher prices in the fourth quarter, supported by reduced imports due to CBAM, tight domestic supply, and restocking demand. A European source noted that September may be too early for any major price rebound, suggesting that potential increases are more likely to materialize by October.
Meanwhile, with import activity slowing down, many large buyers have started to secure European-origin HRC under long-term contracts, aiming to cover their needs for late 2025 and early 2026 amid increasing market uncertainty.
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