European mills are targeting cold rolled coil prices of €2,900/t delivered by the end of the third quarter, with increases expected to accelerate once new trade measures take effect in July. Despite the difficult downstream environment, buyers generally do not expect prices to decline in the coming months. In Italy, processors are already resisting sheet sales below €2,790/t, while sheet prices across Europe are being pushed toward €2,900/t.

European stainless flat prices are continuing to rise even though end-user demand remains broadly unchanged. Latest market indications show that European mills have lifted July-delivery cold rolled coil offers to €2,700-2,740/t delivered, while June-delivery CRC is currently averaging around €2,680/t delivered across Europe. The latest price gains are still being driven mainly by higher costs, especially those linked to the Middle East conflict.

[SMM Steel] Pakistan’s National Tariff Commission initiated an antidumping investigation into color-coated cold rolled coils and sheets imported from China following a complaint from domestic producer International Steels Limited. The investigation covers imports between January and December 2025, while injury assessments will review the 2023-2025 period. Preliminary findings are expected within 60-180 days. Market participants noted the move reflects increasing trade protection measures against Chinese steel exports in Asian markets.

Preliminary census data from the US Department of Commerce reveals that US imports of cold rolled coil (CRC) totaled 54,744 metric tons (mt) in March 2026, falling 24.8% from February and plummeting 53.2% compared to March 2025. Total import value shrank to $51.63 million, down from $69.34 million in February and $133.43 million a year ago. Canada remained the largest exporter to the US at 17,805 mt (up from 14,707 mt in February), followed by South Korea (8,008 mt), Vietnam (4,858 mt), Mexico (4,343 mt), and the Netherlands (4,210 mt). This substantial decline in foreign supply reflects an intentional destocking process and cautious purchasing strategies by US manufacturers experiencing macro headwinds.

[SMM Steel] Hyundai Steel and POSCO’s US joint venture awarded SMS Group a contract to supply rolling mill equipment for its new greenfield steel plant in Louisiana. The project includes a hot strip mill, pickling line tandem cold mill, acid regeneration plant, and AMOVA logistics systems. The plant is scheduled to start operations in 2029 with total steel product capacity of 2.8 million mt. The facility will focus on high-grade automotive steel, with annual cold rolled coil output expected to reach nearly 2 million mt.

According to EUROMETAL, European stainless steel flat product prices are climbing steadily, driven by soaring scrap costs, extended mill lead times, and a sharp decline in imports resulting from the CBAM and upcoming safeguard measures. For May delivery, Cold Rolled Coil (CRC) deals are settling between $2,877 and $2,960/tonne, while Hot Rolled Coil (HRC) is trading around $2,645 to $2,702/tonne. Producers, facing tight scrap supplies—with 304 scrap expected to exceed $1,610/tonne in April—are already pushing June CRC offers to $2,990/tonne, with projections hitting $3,105/tonne by June/July to offset squeezed margins. Despite these hikes, downstream demand remains largely subdued as buyers struggle to absorb the higher costs.