Düsseldorf, Germany, April 28, 2026 — European hot-rolled coil (HRC) prices increased 8–9% quarter-on-quarter in Q1 2026 to ~€680/t, outpacing slower feedstock cost gains (3–5% QoQ). Mills in Germany and Italy announced additional €50–70/t hikes for May, signaling confidence in demand and pricing discipline. The rally is driven by supply cuts, upcoming EU import restrictions, and modest automotive recovery. However, EU steel output fell 4.6% YoY in March amid weak industrial activity.