Dear Customers,
To provide a more comprehensive and accurate reflection of the European hot-rolled coil (HRC) spot market, help market participants better navigate regional trade flows and cost-transmission mechanisms, and reduce market risks during international trade, SMM, following in-depth market research and industry engagement, has decided to launch new spot price assessments for European HRC (domestic and import), effective from 4 September 2026, covering EXW Italy, EXW Northwest Europe, and CFR Italy main ports.
The EU is a major global steel consuming and importing market; Italy and Northwest Europe are core regional HRC production and consumption centres, while Italy's main ports are an important import landing point. European domestic and import spot prices have long been fragmented and lacking transparency, with no unified, independent third-party benchmark. In response to demand across the supply chain for authoritative price information, SMM is introducing these assessments following extensive research among Europe's leading mills, trading and import channels.
Together the assessments span the European HRC domestic (EXW) to import (CFR) price chain, helping traders, mills and downstream users better track regional differentials, import parity and cost transmission, providing an objective reference for cross-regional procurement, hedging and contract settlement, and further enhancing price transparency.
▍Details of the New Price Assessments:
▍Common Notes:
- Price Type: Spot price (benchmark), under the SMM pricing methodology.
- Tax Basis: VAT excluded.
- Quality Standard: EN 10025-2:2004 — ReH ≥235 MPa; Rm 360–510 MPa; A ≥26%; C ≤0.17%; Mn ≤1.40%; P, S ≤0.035%.
▍Per-Assessment Parameters:
- EXW Italy: daily, business days; published 10:00 Italy time (04:00 Beijing); bank transfer, 60–90 days credit; delivery within 4–8 weeks.
- EXW Northwest Europe: daily, business days; published 10:00 Italy time (04:00 Beijing); bank transfer, 60–90 days credit; delivery within 4–8 weeks.
- CFR Italy: weekly, every Tuesday; published Tue 10:00 Italy time (04:00 Beijing); L/C at sight, settled in USD; delivery within 6–12 weeks.
▍Methodology Note: The above prices are objective spot prices derived by SMM through extensive first-hand market research and actual transaction data, formulated and published strictly in accordance with the SMM pricing methodology to authentically reflect mainstream spot transaction levels and offers under the specified delivery locations, specifications and trading standards. Should you have any inquiries or suggestions, please feel free to contact us.
Shanghai Metals Market (SMM)
Steel Research Team
26 August 2026