Steel (Europe) prices averaged USD 808 per metric ton in March, up 4.3% from February. On 31 March, the commodity traded at USD 818 per metric ton, up 4.9% from 27 February.
In recent months, prices for EU steel have benefited from the Cross-Border Carbon Adjustment Mechanism (CBAM), which came into effect on 1 January. In March, higher costs for transportation, iron ore and electricity due to the U.S.-Iran war fanned steel prices; EU electric furnace steelmaking is strongly exposed to electricity costs.
This chart displays Steel (Europe) (US$/mt) from 2024 to 2026.
Hot Rolled Coil Steel EUR (prices in US$/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 | - | - | - | - | - | 679 | 657 | 594 | 629 | 712 | 658 | 701 |