Recently, cold-rolled steel and hot-dip galvanized steel prices have remained unchanged in Europe. However, thanks to the Carbon Border Adjustment Mechanism (CBAM) and proposed stricter safeguard measures, the prices are expected to rise after the holiday with the dramatically decreased import supply.

Local traders indicated that the upward trend in cold-rolled steel and hot-dip galvanized steel prices is expected to continue into the new year, especially with the high CBAM premium amplifying the price increase.

However, actual demand is not expected to be strong, especially given the current difficult situation in the European automotive industry. Therefore, it still needs time to see how the market reacts exactly.