5.8 SMM Global Steel Daily Report

Published: May 8, 2026 18:31

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[EU] European HRC buyers largely paused new bookings while waiting for clearer details on the EU’s upcoming import quota allocation system. Transactions in Northern Europe were reported at €670-690/t ex-works for July-August delivery, while Italian domestic offers remained around €700/t delivered. Downstream demand stayed weak amid high inventories across ports and supply chains. Import offers remained limited and mostly uncompetitive as Asian mills resumed operations with higher prices, narrowing the gap between domestic EU prices and import costs after including CBAM expenses.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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