[SMM Steel] Quota Restrictions Amplify Supply Concerns; European HRC Prices Edge Upwards

Published: Jul 14, 2026 16:25

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[EU] As the clearance and settlement for the EU's new round of safeguard quotas looms, surging import uncertainties have forced the cancellation of some overseas orders. The tightening of available purchasing channels has sparked buyer anxieties over supply for the second half of the year. Against this backdrop, major domestic European mills have capitalized on the situation to firm up their pricing, successfully pushing benchmark offers for September delivery to 710–720 EUR/tonne. On the import front, only tariff-advantaged Egyptian material is currently conducting tentative negotiations into Southern Europe, while high-priced resources from regions like Japan no longer offer any arbitrage windows. With potential summer restocking demand gradually releasing, EU HRC offers are expected to remain firm with limited downside risk in the near term.

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