The price of hot-rolled steel in Europe has remained stable. However, recent imports of steel coils have become less competitive in the local market due to the depreciation of the euro, which has increased import costs. Despite this, the higher import costs have not been enough to drive price increases unless local steel mills further reduce production.

European steel mills are facing a difficult choice. On the one hand, reducing production could help market prices to increase. On the other hand, maintaining production levels is necessary to secure carbon emission allowances for next year. The decision has proven challenging, with mills opting for a middle path, maintaining production levels and stabilizing prices rather than cutting output.