Steel (Europe) prices averaged USD 706 per metric ton in November, up 4.0% from October. On 28 November, the commodity traded at USD 705 per metric ton, up 0.7% from 31 October.
In November, prices rose for the fourth consecutive month and at the fastest pace in seven months. The acceleration was likely driven by frontloading of steel purchases ahead of the implementation of the Cross-Border Carbon Adjustment Mechanism (CBAM) from 1 January 2026. Moreover, major producer ArcelorMittal hiked prices.
This chart displays Steel (Europe) (US$/mt) from 2023 to 2025.
Hot Rolled Coil Steel EUR (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hot Rolled Coil Steel EUR | - | - | - | 688 | 783 | 679 | 657 | 594 | 629 | 712 | 658 | - |