Accessible version European Metals & Mining Weekly Steel prices UP. TKA spins. Cobalt anaemic. Results: EREGL, MAADEN, ATYM, ANTO Industry Overview EU Steel: Updating prices, now EUR775/t average FY27 We updated EU steel forecasts, now expecting EUR775/t FY27 average HRC prices (from EUR730/t). Recent price action = faster path to a "new" mid-cycle. Floor: ROIC=WACC for marginal producers at c. EUR730/t. Ceiling: import parity price at c. EUR800-850/t i.e. market balances in this range with mid-point c. EUR ...