Posted on 09 Jul 2025
Indian hot rolled coil export prices to the EU are stable week-on-week, while cold rolled coil prices are down $5-10/tonne, Kallanish learns from market sources.
Demand has slowed ahead of the EU summer holidays and uncertainty over CBAM rules, while weak EU demand persists, sources say, especially for coated products.
As of Tuesday, Indian-origin HRC offers are flat w-o-w at $585-595/tonne cfr Antwerp, or $530-540/t fob Mumbai, for S235 grade material, August/September shipment, but bids are at closer to $560-570/t cfr.
While no fresh deals were heard this week, one source notes a major Indian mill has booked a HRC cumulative quantity of 45,000-50,000 tonnes over the past month, destined for southern Europe. The tonnage has been concluded at various values in the $585-590/t cfr Bilbao range, or $530-535/t fob India, for SAE1006 and other grades, August/September shipment.
According to EU Taric data, India’s HRC category 1A EU July-September safeguard quota is 100% available as of 7 July, at 227,781t unutilised.
India-origin DC01 grade CRC offers are down by $5-10/t w-o-w to $700-710/t cfr Antwerp, or $645-655/t fob India, while bids are at around $690-700/t cfr, say traders.
India’s CRC category 2 EU July-September safeguard quota is 99.5% available, at 164,309t unutilised.
Hot rolled plate offers are flat w-o-w at $675-690/t cfr Antwerp, or $620-635/t fob Mumbai, for S275 or S235 grades.
Hot-dip galvanised coil (HDGI) offers are steady at $775-790/t cfr Antwerp, or $720-735/t fob Mumbai, for 1mm Z275 or DX51 grades.
Pre-painted GI or colour-coated coil offers are at a premium of $200/t over HDGI levels, at $975-990/t cfr Antwerp, or $920-935/t fob Mumbai, for 0.5mm Z140 grade, August/September shipment.
Coated products activity has slowed in recent weeks. A trader notes: “[EU buyers] are not keen to buy material, especially quota sensitive material [like] coated products [as they have a small quota allowance].”
He adds that while orders for October shipments are still happening, no January-shipment orders are heard being booked, especially for coated flat steel products.
Metal-coated category 4A July-September safeguard quota is 26.2% available as of 7 July, at 14,228t unutilised. While metal-coated category 4B quota stands at 86.5% available, at 67,051t unutilised.
Organic-coated category 5 July-September safeguard quota is already exhausted as of 7 July.
Source:Kallanish
