European steel HRC prices rise amid higher energy costs

Steel hot-rolled coil (HRC) prices have risen in several European regions, driven by increasing production and energy costs. In Northern Europe, prices for basic grades and sizes are expected to reach approximately €750 per tonne ex-works for October deliveries, with potential contract levels for the fourth quarter reaching €760-770 per tonne.

While prices edged up in Northern Europe, Spain, and Central Europe, levels declined in Italy despite tight market supply. In Northern Europe, trading activity remains slow due to weak end-user demand. Industry sources noted that electricity costs in Europe have risen by more than 50% over the last four months, pressuring mills to initiate price increases to cover production expenses.

Import activity remains limited due to reduced import quotas and higher duties on out-of-quota shipments. The Fastmarkets daily steel HRC index for Northern Europe was reported at €745 per tonne on September 16, reflecting a monthly increase of €26.25 per tonne.