The world's largest steel company, ArcelorMittal, has increased its supply of hot rolled steel in Europe to 730 euros per tonne for delivery in the second quarter with immediate effect, which is 30 euros per tonne more than the official offer at the end of last year. </p >
The company also increased its cold-rolled coil supply to € 820 per tonne and hot-dip galvanized sheet steel to € 850 per tonne with immediate effect, again for second quarter deliveries. Galvanizing offer was up € 50 /t from the end of last year, supported by increased lead times - one mill informed customers that its delivery time for coated steel was now postponed to August. Some customers have already paid more than € 800 per tonne of galvanizing - demand for it has been high in recent months due to a sharp increase in car purchases.
This is Lakshmi Mittala's fourth price increase since November 19, with a cumulative jump of € 180 /t. Since the first announcement, the Argus Reference Hot Rolled Sheet (HRC) Index has risen by € 157.25 /t, from € 511.50 /t to € 668.75 /t as of yesterday.
While the market is slowly recovering from the holiday period, after an extremely busy December, supply remains limited, and European businesses are encouraged by the continued rise in import prices. Offers from third countries to Antwerp in recent days have reached 690-700 euros per ton with delivery and have long lead times.
