European Market
Europe is currently in the summer‑holiday off‑season. Numerous processing mills and traders are on vacation, leading to thin market activity and low inquiry volumes. Northern Europe hot‑rolled coil (HRC) ex‑works prices stand at EUR 710‑730 per tonne. Local mills intend to lift prices, yet real transaction support remains weak. Market activities in Italy are largely stagnant.
- Trade policies: The EU has cut duty‑free steel import quotas. A 50% tariff applies to volumes exceeding quotas. Together with the CBAM carbon border adjustment mechanism, landed costs for imported carbon steel have risen, strengthening bargaining power for domestic European steelmakers.
- Time node: Downstream purchasing will resume after summer breaks end in late August‑early September. Inquiries are expected to pick up notably in the first week of September.
- Import supply: Southern Europe mainly sources HRC from Türkiye at CFR Southern Europe USD 640‑650 per tonne.
Türkiye (Key Global Carbon‑Steel Exporter)
Two major local steel mills will carry out concentrated maintenance in September, tightening spot supply for September. Most offers have shifted to October shipment, with limited available material for September delivery.
- HRC export FOB price rises to USD 580 per tonne, up USD 10 per tonne month‑on‑month.
- Risk note: Black‑Sea geopolitical tensions persist, bringing uncertainties to sea freight and possible schedule delays.
US Market
Mid‑west US HRC spot prices hover near USD 1200 per short ton. Domestic steel inventories stay low. Mills face tight production schedules with extended lead times of 6‑12 weeks; many mills stop accepting short‑term spot orders.
Key trade update: Public statements indicate a planned 50‑percent tariff hike on Canadian steel imports effective Jan 1, 2027. Canada will impose retaliatory duties accordingly. Once formalized, North‑American steel trade flows will be reshaped. Follow official announcements closely for North‑America‑targeted orders rather than relying solely on verbal statements.
Southeast Asia & Middle East
- Vietnam: On Aug 22, the final ruling of the 3rd interim review maintained anti‑dumping duties on Chinese H‑beams. Higher costs apply to China‑origin H‑beam exports to Vietnam. Verify the latest duty rates before quoting.
- Middle East: Red‑Sea shipping routes suffer high freight rates and unstable schedules. Chinese HRC is quoted CFR Saudi Arabia at USD 585‑595 per tonne. Local buyers show strong price‑pressing intentions with considerable negotiation room.
