European and US steel market price trends

The steel market is experiencing varied price movements across Europe and the United States. In Europe, long steel markets have shown uneven trends, with producers in Poland and Spain raising quotations to defend against high energy and logistics costs. However, shipping to certain regions remains difficult due to insurance restrictions, and low water levels on the Rhine have increased freight rates and caused production slowdowns in Germany.

More recently, steel producers in both Europe and the United States have signaled significant price increases for hot-rolled coil. In Europe, integrated mills are preparing for 2027 long-term supply contracts, with industry sources suggesting potential three-digit price hikes to compensate for rising input costs. In the United States, major producers such as Nucor and California Steel Industries have implemented spot price increases, while Nucor Plate Group announced a doubling of its fuel surcharge to address operational expenses.

By late October, European hot-rolled coil (HRC) markets showed signs of stability. In Northern Europe, tradable levels were reported between €740-750 per tonne ex-works, while Italian markets hovered around €730 per tonne ex-works. Supply in Italy is expected to improve following the restart of Arvedi’s hot-rolling line. Although trading activity remains muted, the EUROMETAL Market Sentiment Survey for October indicates that steel distributors maintain a positive outlook for the next quarter. While current conditions are assessed as neutral, price expectations are oriented toward increases, reflecting a sense of cautious optimism.