📡 2026.7.1 Core Europe Steel Weekly Report — Free Sample

Report Period: June 24 – July 1, 2026
Coverage: Germany | United Kingdom | France | Italy

📌 Core Insights (Excerpt)

📌 New EU Steel Safeguard Enters Force — Regulation (EU) 2026/1384 Now Live — On July 1, 2026, the European Union’s new steel safeguard regulation officially took effect. The total duty-free quota is now 18,345,922 tonnes per year, a 47% reduction from 2024 levels. Imports exceeding the quota face a 50% tariff, doubled from the previous 25%. The “Melt and Pour” origin traceability rule is now mandatory for all imports.

📌 Country-Specific Quotas Published — FTA Partners Secure Half the Annual Quota — The European Commission released detailed country allocations, revealing that 9.15 million tonnes — half of the total quota — is reserved exclusively for free trade agreement partners. For Category 1A (HRC), Turkey receives the largest allocation at 642,295 tonnes, followed by India (597,274 tonnes), Japan (551,539 tonnes), Ukraine (483,529 tonnes), and South Korea (461,830 tonnes).

📌 Italian HRC Prices Plunge — Sharpest Weekly Drop Since May — Fastmarkets’ daily HRC index ex-works Italy was calculated at €668.13/t on June 26, down €18.10/t week-on-week. Workable prices widened to €660–685/t EXW, with deal levels reported at €660–670/t for stock replacement volumes. Italian mills, facing high energy costs and weak domestic demand, are discounting aggressively while Northern European prices hold relatively firm.

📌 UK Eases Quota Cuts to 51% After Industry Backlash — The UK government reduced its planned steel import quota cut from 60% to 51%, setting the total quota at 3.2 million tonnes. A transitional exemption protects contracts concluded before March 14, 2026, for imports through September 30, 2026. Eleven specific steel types have been exempted from the measures entirely.

💰 Price Snapshot (Selected)

🛡️ Policy & Logistics Alert

EU Safeguard Now in Force: Regulation (EU) 2026/1384 applies from July 1, 2026. Key parameters: 18.3Mt annual quota, 50% out-of-quota tariff, quarterly management with carry-over in the first year, and mandatory “Melt and Pour” documentation. Country-specific quotas are published, with half the annual total reserved for FTA partners.

UK Safeguard Also Effective July 1: Quota cut eased to 51% (from 60%), total quota 3.2Mt. Transitional exemption for pre-March 14, 2026 contracts until September 30, 2026. Eleven product types exempted.

Port Congestion Continues: Rotterdam and Bremerhaven remain “the most severely congested.” Hamburg CTA is experiencing clearance delays of up to 8 hours due to weather conditions. Rail manoeuvring restrictions are preventing import trains from leaving German ports. Antwerp barge operations have resumed after the June 30 stoppage, but backlogs will take time to clear.

CBAM Q2 Price — July 6 Publication: The Q2 2026 CBAM certificate price will be published on July 6, 2026. CBAM liability on slab imports has been revised down to €40–50/mt from earlier estimates of €60–80/mt.

💡 Sample Actionable Advice

For Procurement Managers:
✅ Begin executing Q3 purchases now — the policy clarity you have been waiting for has arrived. Quotas are published, and the 50% out-of-quota tariff is in effect. While the market is still soft, the balance of power will shift toward mills as import constraints become tangible. Target Northern European HRC at €680–685/t EXW and Italian HRC at €660–670/t EXW for July delivery.

⚠️ Verify quota availability and Melt and Pour documentation for all import purchases. Before placing any import order, confirm that your supplier has available quota for the relevant product category and can provide the required Mill Test Certificate proving the country of melt and pour.

For Export Sales Managers:
✅ Hold your price levels — the post-safeguard price recovery is a matter of when, not if. Northern European mills are holding forward offers at €710–720/t, and import constraints will progressively tighten supply. The current market softness is temporary and driven by summer seasonality.

✅ Leverage your FTA status if applicable — it is now a decisive competitive advantage. With 9.15 million tonnes of the annual quota reserved exclusively for FTA partners, mills from Japan, South Korea, Vietnam, and other FTA countries have preferential access. Highlight this in your offers to European buyers.

This free sample represents a fraction of the full weekly report and accompanying Week-on-Week Deep Dive Analysis. Subscribers receive:

• Complete price tables for all major steel products across Germany, France, Italy, and the UK with week-on-week comparisons
• Full import viability assessments factoring in the new 50% out-of-quota tariff, CBAM carbon costs, and country-specific quota allocations
• Detailed analysis of Regulation (EU) 2026/1384 and its implications for procurement and sales strategies
• Anti-dumping and trade defence analysis by product, country, and grade
• Supply and inventory dynamics including port congestion metrics, mill production data, and outage tracking
• Dedicated action advice for both procurement and sales managers
• Week-on-Week Deep Dive Analysis across seven analytical dimensions
• Forward Calendar of key dates for the next 30 days

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