European steel buyers rushed to purchase coil in early March 2026, fearing supply disruptions from the Middle East conflict. This fear drove prices higher, reminiscent of past market panics. However, industry experts believe a repeat of previous boom-bust cycles remains unlikely due to stable domestic supply. Meanwhile, the EU unexpectedly delayed its official green steel definition, pushing the decision to late 2026. This postponement creates uncertainty for producers investing in low-carbon technology, even as premiums for existing green steel products remain stable around €80 per metric ton.