Steel (Europe) prices averaged USD 679 per metric ton in October, up 1.0% from September. On 31 October, the commodity traded at USD 700 per metric ton, up 4.2% from 30 September.
Prices rose for the third consecutive month in October. This was likely due to higher costs for raw materials iron ore and coking coal in recent months, as well as some likely frontloading of steel purchases ahead of the implementation of the Cross-Border Carbon Adjustment Mechanism (CBAM) from 1 January 2026.
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 | - |