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Steel market recap, August 2026: prices rise on tight supply, US widens 232

By Loharo EditorialPublished 4 min read
Aerial view of a steel yard with coils, plates and rail wagons at golden hour
Illustration of an aerial view of a steel yard at golden hour

This monthly recap covers August 2026. Later data is in our newer coverage.

Executive summary

  • Northern European HRC kept rising through the summer lull, to €741.25/t ex-works on 28 August, up €32.50/t in a month (Fastmarkets).
  • The first EU quota quarter ran on, with many popular allocations already used up; the next ones opened on 1 October.
  • The US proposed bringing 14 more derivative products under Section 232, with comments due 27 August.
  • China’s July exports (published 7 August) were 10.121 Mt; world output in July was 149.2 Mt (worldsteel, 24 August).
  • thyssenkrupp reported its third quarter on 13 August; reports said it was renegotiating funding for its Duisburg green steel plant.

Key numbers

€741.25/t HRC, ex-works Northern Europe, 28 Aug 2026, up €32.50 m/m FactFastmarkets via EUROMETAL

14 Derivative products proposed for Section 232 duties (BIS notice, 6 Aug 2026) FactFederal Register

149.2 Mt World crude steel, July 2026, −0.3% y/y (published 24 Aug) Factworldsteel

€75.28 Latest CBAM certificate price during August (Q2 2026) FactEuropean Commission

Fact = checked against the cited source · Calc. = Loharo calculation from cited figures or stated assumptions · Uncertain = reported but not confirmed. Unlabelled statements in the text are sourced facts; analysis and uncertainty are labelled inline.

EU prices

Prices rose despite August holidays in most of Germany. Fastmarkets’ Northern Europe HRC index was €741.25/t ex-works on 28 August, up €19.17/t week on week and €32.50/t month on month (EUROMETAL). Mills had sold out Q3 and were pricing October deliveries, while limited import availability under the quotas supported their offers. Trade reports said buyers were still holding high stocks, so actual demand stayed weak. Uncertain We have only the agency’s description of stock levels, not data.

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Trade rules

EU tariff quotas

August had no new legal act. The Q3 quarter of Regulation 2026/1457 continued to 30 September, and buyers whose supplier’s quota was gone faced the 50% duty or a wait until 1 October.

CBAM

No new price in August. The latest published figure stayed at €75.28 for Q2 imports, with the Q3 price due in the first week of October (European Commission).

US Section 232

On 6 August the Bureau of Industry and Security asked for comments on adding 14 derivative products to the steel, aluminium and copper duties, including some cranes and straddle carriers, tanker and other trailers, electric cables, floor safes, fire extinguishers and filled steel containers. Comments were due by 27 August (Federal Register, 6 August). We have not seen a final decision. Rates on steel itself stayed at 50% (proclamation of 4 June).

China exports

Data released in August covered July: 10.121 Mt exported, up 2.9% year on year (GACC). Mysteel’s port shipment tracking showed August shipments back above 10 Mt. The official August figure came out on 8 September (see the September recap).

Production

worldsteel’s July report, published on 24 August, showed world crude steel at 149.2 Mt, down 0.3%, and January to July at 1,081.2 Mt, down 0.6%. India grew 1.9% to 14.4 Mt and the US 4.4% to 7.4 Mt (worldsteel).

Company moves

  • thyssenkrupp published its results for the third quarter of its 2025/26 year on 13 August, reporting higher sales and adjusted EBIT and progress on its restructuring, including the HKM sale to Salzgitter (thyssenkrupp, 13 August).
  • Reuters reported the same day that thyssenkrupp was in advanced talks to change the funding of its roughly €3 billion green steel plant in Duisburg (Reuters, 13 August). Uncertain Not confirmed by the company in the release we read.
  • Tata Steel Nederland said on 27 August that it had applied to the Omgevingsdienst Noord-Holland Noord for an update of the nature permit covering its whole IJmuiden site, the basis for its green steel plans (Tata Steel Nederland, 27 August).

Our view

August prices rose on lack of supply, not demand. Buyers who held off until autumn had to pay more, and with Q4 quotas likely to fill early again, we think this pattern will repeat each quarter.

This is a Loharo assessment based on the sources cited. It contains no expert quotations.

Verification status: Partially verified

  • Prices are Fastmarkets assessments as reported by EUROMETAL. The BIS notice, US rates, CBAM price, China exports and worldsteel data were checked against official sources. The thyssenkrupp funding talks come from Reuters only and the description of stock levels comes from trade press; both are labelled Uncertain. The Tata Steel Nederland permit application was checked against the company’s release of 27 August (re-checked 15 October 2026).
  • Key: Verified = every factual claim checked against a primary source; Partially verified = core facts confirmed, some details from secondary sources or still being confirmed (marked Uncertain in the text); Analysis = interpretation; Developing = story still moving.

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Sources

Primary sources

Supporting sources

Information as of 13 October 2026. Each figure is given with the source and date it refers to. Price assessments are those reported by the named agency. This recap is market intelligence, not legal, customs or investment advice.

More recaps

See all monthly recaps and the Trade rules hub.

By Loharo Editorial. Facts, analysis and uncertainty are labelled in line with our editorial standards. Report an error – corrections are dated and noted on the article. Information and analysis only, not investment advice.

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