The largest manufacturer in the European Union, ArcelorMittal, increased the price offer for hot-rolled coils (HRC) by 20 euros/t to 630 euros/t throughout Europe.
After the conclusion of contracts, the plant’s order portfolio became more transparent, and in the first There is more robust demand in the quarter, including from the automotive industry.
Suppliers and the market as a whole expect import volumes to fall in the first quarter due to dumping cases against Egypt, Japan, India and Vietnam, as well as a 15 percent cap on volumes in other countries. The European Commission's review of its safety measures, which could see changes implemented in April rather than the usual July, could also tighten supplies further.
Sources suggest quota levels could be cut in line with weaker production and demand in the EU, and that all developing economies could be subject to protective measures. In the 4A hot-dip galvanized steel market, there may also be a cap on each country selling into the "other countries" quota, while for HRC, countries with their own quota may not have access to the 30% of the "other countries" quota in the final quarter from April to June.
Some traders are abandoning imports entirely as a result of the measures, trying to find other ways to do business domestically. Benelux manufacturer HRC has also withdrawn its offer and is expected to return in January at higher prices, sources suggest.
