The slight upward trend in hot-rolled coil (HRC) prices in the European market remains stable. Despite limited transactions, local steel mills' offers for the first quarter of 2026 remain firm, with prices for January delivery significantly higher than spot prices. 

Buyers said the current market is seller-driven, with mills attempting to create an upward price trend and lock in higher levels before the Q1 2026 restocking demand arrives. The main support currently came from tight supply and rising production costs. 

Market participants pointed out that imported HRC is scarce but has limited appeal, especially after the implementation of the Carbon Border Adjustment Mechanism (CBAM), which has increased import costs.