Luxembourg-based steelmaker ArcelorMittal has implemented another roll price hike in the Iberian Peninsula that will roll out across Europe today and tomorrow, buyers told Argus.
The company expects to receive 1,000 euros per tonne of hot rolled coil (HRC) and 1,170 euros per tonne of cold rolled coils (CRC). This is the sixth price increase in the last seven weeks, when the price has increased by 200 euros per tonne since March 4th.
Despite the fact that the announcements of the increase in growth rates do not stop, the market was expecting a further increase. Imported CRCs have already sold at € 1150-1200 /t FCA /CIF in the last few weeks in Northern Europe as buyers seek material given the lack of domestic supply.
It makes no sense for European manufacturers to set lower prices than for materials from third countries.