[SMM Steel] European HRC Rallies: Tight Northern Supply Drives Price Surge as Q4 Quotas Sell Out

Published: Oct 12, 2026 15:07 (GMT+8)

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[Europe] European hot-rolled coil (HRC) prices rebounded strongly, with the Northern European market showing particularly sharp gains. Driven by tightening domestic supply, strict import quota constraints, and the rapid depletion of low-cost buyer inventories, market supply-demand dynamics shifted abruptly, pushing mainstream transaction baselines significantly higher. On pricing, the Northwest European HRC ex-works price surged in a single day to 742 EUR/tonne EXW (832 USD/tonne), while the Italian domestic price followed suit, rising to 737 EUR/tonne EXW (826 USD/tonne). Regionally, several leading mills in Northern Europe reported that their Q4 allocations are virtually sold out or officially closed, with recent delivered transaction levels solidifying in the 750–760 EUR/tonne DDP (841–852 USD/tonne) range. In Southern Europe, the mainstream delivered floor price likewise held firm at 750 EUR/tonne DDP (841 USD/tonne).

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