Platts consults market on European flat steel import price assessment in response to CBAM implementation

Platts, part of S&P Global Energy, wishes to consult market participants on the methodology for its European flat steel import price assessments following implementation of the mandatory phase of the European Commission's Carbon Border Adjustment Mechanism (CBAM).

Platts publishes daily, weekly and monthly assessments for the European flat steel markets for imported hot-rolled coils, cold-rolled coils, plates and on a CIF Antwerp and/or a CIF South Europe basis.

The assessments represent traditional trade flows, specifications and prevailing incoterms used within the European import markets. However, since the implementation of the mandatory phase of the European CBAM in 2026, market participants have reported an increased number of offers and deals on different terms, including on a delivered duty paid (DDP) basis, North and South Europe for HRC, CRC and plates.

The specifications for the flat steel assessments can be found here: https://www.spglobal.com/content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/metals/steel-ferrous-specifications.pdf .

Platts invites feedback on the impact of CBAM and potential impact of new steel safeguard trade measures to its flat steel price assessment methodology, including but not limited to the following:

• Volume: The HRC, CRC and plate import prices reflect typical volumes of 500mt - 5000mt, while the CIF South Europe reflects minimum 500mt shipments. What volumes are currently most representative of market transactions on a CIF and DDP basis?

• Timing: The CIF import assessments capture material delivered on a 6–12-week basis. With the additional freight and customs components in a DDP shipment, has market practice changed and should the delivery timing be extended?

• Payment terms: Due to additional costs from freight, CBAM and potential anti-dumping and out-of-quota duties, Platts has observed DDP and FCA basis offers and deals reported in the market at significantly higher prices than CIF offers. What typical payment terms are being used in these deals?

• Location: As DDP basis deals are typically delivered to the customer's location of choice, the freight can be variable. What alternative locations in North and South Europe could be considered as additional basis locations to be reflected?

Please send any questions, comments or feedback by May 22 to EMEAMetalsTeam@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.