Northern European steel markets face unprecedented challenges as CBAM uncertainty becomes the only price stimulus amid weak demand. Despite ArcelorMittal's €50 per metric ton price increases & EU interest rate cuts, sentiment remains negative. The automotive sector struggles severely, Chinese EV sales growing 91% year-on-year while UK car production hits 1953 lows. Import market uncertainty from CBAM implementation & safeguard measures creates artificial supply constraints. Steel mills implement extended production cuts while stockists focus on high-margin projects as large opportunities remain scarce.