ArcelorMittal, the leading steel producer in Europe, raised prices for sheet steel for the second time in 15 days in March and postponed delivery times for orders until September - October this year.
The company is currently asking EUR 850 per tonne of hot rolled coil (HRC), EUR 970 per tonne of hot-dip galvanized steel and EUR 950 per tonne of cold rolled coil (CRC).
Buyers who today tried to get tons at the old prices were upset that all existing offers were withdrawn, and that at the new price it is possible to order the supply of hot rolled steel only for September, and the supply of galvanized steel and thin sheet may occur in the fourth quarter .
The increase in prices is not surprising given the limited supply for the entire range of steel products in the EU. Buyers are already accepting imports of cold rolled coil at € 920-925 per tonne in Antwerp equivalent for September delivery as they desperately need the materials.
Thanks to the rise in world prices, other wholesale exporters have increased their supply, despite the decline in scrap prices in recent days.