ArcelorMittal raised prices for hot dipped galvanized steel (HDG) and cold rolled coil (CRC) for the European market, but kept the price of hot rolled coil (HRC) unchanged.
The new HDG offer, which will take effect immediately, will be based on a price of € 900 per tonne, while the CRC will be offered at € 870-880 per tonne.
The market notes that the delivery time for galvanized steel from a European manufacturer can reach 12-15 weeks for spot customers.
Market participants are a little taken aback that hot rolled steel supply has not increased, given the renewed upward momentum, inspired by China's firm return from the lunar New Year holidays.
Perhaps ArcelorMittal is reluctant to open its doors to EU imports even more. Recently, Russian material was sold in Antwerp at € 705 per tonne, competing with the current offer of € 750 per tonne. Indian material was also offered in Europe at an even lower price of € 700.