Europe's green steel market records near-zero spot activity in April 2026, as buyers resist paying premiums above one hundred and fifty euros per metric ton. Yet investment momentum continues: Marcegaglia awards a four hundred and fifty million euro contract for a new French electric arc furnace facility, while Stegra secures one point four billion euros in fresh financing for its hydrogen-based plant in Sweden. The gap between industrial ambition and commercial demand remains the sector's defining challenge.