Report Period: April 15 – 22, 2026
Coverage: Germany | United Kingdom | France | Italy
📌 Core Insights (Excerpt)
📌 EU Safeguard Provisional Deal Reached — 47% Quota Cut, 50% Tariff from July 1 — On April 14, EU member states and Parliament agreed on a new steel trade framework effective July 1, 2026. The duty-free import quota will be capped at 18.3 million tonnes per year, a 47% reduction from 2024 levels. Out-of-quota imports face a 50% tariff, double the previous 25%. Formal approval expected in May 2026. This represents the most significant tightening of EU steel import policy in over five years.
📌 CBAM Carbon Cost Now Permanent — €75.36/tCO₂e for Q1 2026 — The first official CBAM certificate quarterly price was published on April 7 at €75.36 per tonne of CO₂ equivalent. For a typical steel import with emissions intensity of ~2 tonnes CO₂ per tonne, this adds approximately €150 per tonne to landed costs. The Q2 price will be announced in early July.
📌 Northern Europe HRC Prices Retreat Modestly — Fastmarkets‘ daily HRC index for ex-works Northern Europe fell to €708.33/t on April 17, down €11.67/t week-on-week. Workable prices now sit at €700–710/t EXW, with trading muted as buyers hold sufficient inventory booked ahead of the July 1 trade regime change.
💰 Price Snapshot (Selected)
| Product | This Week Price | WoW Change |
|---|---|---|
| HRC EXW Northern Europe | €700–710/t | -€10/t |
| HRC EXW Italy | €700–710/t | +€10/t |
| Slab CFR Italy | $600–620/t | +$20/t |
| Indian HRC CFR Antwerp | ~$705/t | +$5/t |
🛡️ Policy Alert
India HRC Quota Exhausted for Q2 2026: India has fully depleted its duty-free HRC allocation for the current quarter, with 304,826 tonnes awaiting allocation against only 225,306 tonnes available. Any additional Indian HRC entering the EU before July 1 will now face the 50% out-of-quota tariff. This creates immediate supply constraints for buyers reliant on Indian material.
💡 Sample Actionable Advice
For Procurement Managers:
✅ Secure Q3 HRC volumes now, but push back against €750+/t offers. European mills are targeting €750–770/t EXW for July delivery, citing the upcoming safeguard tightening. However, workable prices remain at €700–710/t, and high inventory levels limit buyer urgency. Lock in Q3 contracts at €710–730/t where possible, but avoid committing above €750/t until country-specific TRQ allocations are revealed.
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