The European steel market enters Q1 2026 with cautious optimism. After significant price volatility through 2025, markets show signs of stabilization supported by steady construction demand and the continued impact of CBAM (Carbon Border Adjustment Mechanism).
Structural Steel Pricing
Hot-rolled structural sections (IPE, HEA, HEB) are trading at approximately €750–820/tonne ex-works for standard grades (S235JR to S355J2). This represents a modest 3–5% increase from Q4 2025 levels, driven primarily by rising raw material costs and energy prices.
Plate products (S355J2+N, 8–50 mm) are slightly higher at €800–880/tonne, with longer lead times of 6–8 weeks compared to 4–5 weeks for standard sections. Demand from the wind energy sector continues to support plate pricing.
Flat Products
Hot-rolled coil (HRC) S235JR prices stabilized at €620–680/tonne after declining through most of 2025. Cold-rolled coil (CRC) trades at a premium of approximately €80–100/tonne over HRC. Import volumes remain constrained by EU safeguard measures.
Stainless Steel
Austenitic grades (304/316) saw nickel surcharge adjustments following LME nickel price movements. Base prices for 304 cold-rolled coil remain around €2,400–2,600/tonne with surcharge. Duplex grades (2205) trade at approximately 15–20% premium over 316L.
Market Outlook
Key factors for Q1-Q2 2026: CBAM implementation continues to affect import economics; EU Green Deal construction targets drive demand for structural steel; energy cost pressures from carbon pricing; supply-side adjustments from EU producers rationalizing capacity.
Fabricators are advised to secure pricing for Q2 requirements during March, as seasonal construction demand typically pushes prices higher through spring and summer.