9 September 2026 – According to current reports from market observers, Hot Rolled Coil (HRC) prices continue to rise in both Europe and the United States. On 8 September, Canada’s new tariffs on US goods entered into force as planned. The United States has already responded with new Section 338 tariffs. So far, there is no sign of an end to the trade dispute.
EU HRC Prices Rise Again
According to current reports from market observers, Hot Rolled Coil (HRC) prices in Europe continue to rise and are now said to have reached as much as €790 per tonne ex works for November deliveries, an increase of more than 8 per cent compared with the beginning of September 2026.
Overall, European HRC prices have now surged by almost 39 per cent since the announcement of new steel tariffs and quotas in October 2025. In October, the Commission had assumed an increase in steel prices of just under 3.25 per cent.
US Steel Prices Have Also Risen
HRC prices in the United States have also been moving in only one direction for several months: upwards. Persistently strong demand is meeting limited availability, as US crude steel capacity is unable to cover domestic requirements.
A metric tonne of HRC was most recently priced at around USD 1,356, an increase of 2 per cent compared with the beginning of September. Since spring 2026, US Hot Rolled Coil prices have therefore risen by around 20 per cent.
No Relief: Canada US Tariff Conflict Escalates
On 8 September, Canada’s new tariffs on US goods entered into force as planned after the two countries failed to achieve any further rapprochement in the tariff dispute or find a solution. A US response to the Canadian government’s tariff measures was not long in coming.
New Section 338 tariffs against products from Canada announced
Already on Tuesday, US President Donald Trump announced further measures under the Section 338 tariffs, specifically targeting Canadian imports of alcohol, motorcycles and dairy products. In addition, Canadian goods worth USD 50 billion are to be excluded from public procurement by the General Services Administration (GSA).
The current spiral of measures and countermeasures suggests that the trade conflict between the two neighbouring countries could continue for quite some time.
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
