[SMM Steel] Exorbitant Tariffs Drive Up Import Costs; Bullish Sentiment Dominates European HRC Market

Published: Jul 28, 2026 13:55

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[EU] Yesterday, higher-than-expected import tariffs exerted significant upward pressure on the European hot-rolled coil (HRC) market, strongly boosting bullish sentiment. Although current EU HRC offers edged down slightly to 810–820 USD/tonne EXW, Northwest European mills remain reluctant to take on new orders amid the traditional slow season and are firmly maintaining their pricing stance. Meanwhile, HRC offers in the Italian market held steady at 820–830 USD/tonne delivered, though overall spot trading activity remains sluggish.

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