ArcelorMittal, the leader of the European market, has increased its offer for hot-rolled coils (HRC) to 700 euros per ton. The previous offer was 680 euros/ton.
The manufacturer referred to the increase in inquiries and orders, which was facilitated by the recently published review of the European Commission on steel.
European factories were in no hurry to sell, as some of them were under pressure on supply figures due to low load rates and problems with some manufacturers causing delays. At the same time, factories expect imports to decrease in the coming months, although there may be some preponderance during this quota period after a review of protective measures and the introduction of temporary anti-dumping duties against Egypt, Japan and Vietnam.
On the futures market today, the band of the fourth quarter was trading at €670/ton, which is generally consistent with the agreement of March 31. The physical market is mostly calm as participants wait to see how much material will be available for immediate shipment and what tariffs U.S. President Donald Trump will announce.
In recent days, the margin of rolling mills in the north of the EU has almost reached an annual maximum: the difference between the price of rolled products in the north-west of the EU and the cost of blast furnaces reached 181 euros/ton on March 31, which is the highest since 189 euros/ton on April 5.
