[SMM Steel] European HRC: Balanced Supply and Demand as Duty and Currency Risks Narrow Import Margins

Published: Oct 14, 2026 15:57 (GMT+8)

Save

[Europe] European hot-rolled coil (HRC) steel prices remained generally stable. With downstream demand persistently sluggish, mills lacked leverage to push offer levels higher, leaving ex-works prices in both Northwest Europe and Italy largely unchanged. Viable market transaction levels were anchored within 740–750 EUR/tonne DDP (~829–840 USD/tonne), while trader quotes broadly hovered around 740–750 EUR/tonne EXW (~829–840 USD/tonne). Downstream margins have been virtually erased alongside elevated distributor inventories, leaving end-user consumption as a persistent source of downward price pressure. On imports, trade defense and tariff rate quota (TRQ) risks continue to mount. As delayed import arrivals surged into customs simultaneously, India's dedicated country-specific quota was rapidly exhausted last week, exposing substantial volumes of landed material to steep safeguard duties. Consequently, several European buyers have opted to withdraw customs clearance applications to defer entry until the January quota reset, while initial cost evaluations for orders targeting the April 2027 quota reset have already commenced. A softer euro against the US dollar in recent weeks has further elevated import landing costs, which, alongside escalating trade protectionism, has significantly narrowed the arbitrage window for foreign steel relative to domestic European material.

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 mins ago

[SMM Steel]

[Steel Billet] Today, export FOB prices for square billet edged down by USD 1/t, with Jiangyin Port quoting USD 460–465/t. Feedback indicates that overseas demand has been recovering steadily of late, inquiry activity remains fair, and some exporters have been taking on export billet orders.

7 mins ago

[SMM Steel]

[SMM Steel] Market feedback indicates that the current FOB quote for 3SP square billet, sized 150×150 mm, stands at USD 461/t, with Guangzhou Port as the port of shipment.

7 mins ago

10 mins ago

[SMM Steel] India’s Steel Prices Show Mixed Trends Amid Limited Buying

[India Domestic] India’s domestic steel prices were mixed on Oct 14, with rebar prices remaining stable, sponge iron edging lower and billet and ingot prices saw a slight gains. Buying activity remained subdued with buyers focusing mainly on immediate requirements. Power cuts in few regions and high operating costs continued to affect steel production, limiting supply-side support amid weak demand. Raipur rebar unchanged 546 USD/tonne (51,900 INR/tonne) EXW Raipur. Mumbai rebar prices continued trend sideways a week at 565 USD/tonne (53,700 INR/tonne) EXW Mumbai. PDRI sponge iron edged down 1 USD/tonne (100 INR/tonne) to 298 USD/tonne (28,300 INR/tonne) EXW Raipur. Mandi ingot up 2 USD/tonne (200 INR/tonne) to 493 USD/tonne (46,900 INR/tonne) EXW Mandi. Billet up 2 USD/tonne (200 INR/tonne) to 467 USD/tonne (44,400 INR/tonne) EXW Raipur.

10 mins ago