ArcelorMittal raises prices for rolls in the EU to 50 euros per ton
On February 17, market sources informed McCloskey that ArcelorMittal had increased its domestic roll supply by 50 euros per tonne compared to previous offers.
It was reported that the new target prices for delivery in May were 750 euros per ton of hot-rolled roll, 880 euros per ton of cold-rolled roll and 870 euros per ton of hot-dip galvanized roll. Earlier, the steel producer increased its supply by 50 euros per ton in January and by 30-40 euros per ton in December.
.Several market sources reported that new offers had already been sent out to buyers, while some market participants said they had yet to receive official offers, but the steel company's sales representatives confirmed their intention to increase offers to the aforementioned levels.
The sources were somewhat puzzled by the higher level of supply, given that the previous target prices, according to them, were not reached during the transactions.
McCloskey estimated domestic prices for HRC in Northwest Europe on February 13 at 655 euros per tonne from the plant, based on several deals and offers at 640-670 euros per tonne from the plant.
At the beginning of the week, some sources reported deals in the domestic market at a price of about 690-700 euros per ton of supplied HRC, but this information was not widely confirmed in the market, and it was reported that some integrated plants were offering a price of about 645 euros per ton from the plant.
The optimistic January sentiment in February became even more gloomy due to the lack of a real recovery in demand. In addition, concerns have increased about rising domestic prices and rising protectionism in steel imports, which will open the door for steel-containing goods to be imported into the EU.
Although the European authorities plan to solve this problem, some market participants believe that any legal remedies will not be introduced in a timely manner.
Although these concerns are recognized by both buyers and sellers in Europe, most sources remain optimistic about the price outlook, although they question the pace of current price increases.
The introduction of the Carbon Dioxide Emissions Control Mechanism (CBAM) in 2026 and the expected reduction of steel import quotas by 47% have already forced European buyers to be more cautious about steel imports. As a result, domestic plants are expected to increase market share, displacing imported raw materials and to some extent offsetting the effects of the lack of a real improvement in demand.
Author: Maria Thanatar
Opisnet.com