ArcelorMittal, one of Europe's leading steel producers, has raised its base price for hot-rolled coils (HRC) to €610/t with delivery for fourth quarter shipments. This is the second price increase in a short period -at the end of July, the company set a level of €590/ton, which is now also applied in Spain and Italy. This is reported by Argus.
Media.
The futures market has been planning price increases for several weeks now: HRC offers in Northern Europe were trading at €608/ton in December, and in the range of €580-583/ton in September. Against the background of reduced activity in the summer, most factories lowered prices to fill their order portfolios. In June, the average transaction price in Northwest Europe dropped to €533/ton, although some players still have access to such levels.
However, on August 5, two major manufacturers reported sales of €570-590/ton. The market is expected to pick up after the summer holidays, especially given the potential tightening of import restrictions. In particular, starting in January 2026, a new protective mechanism proposed by the European Commission on the initiative of France and with the support of EUROFER may become operational. Import quotas may be reduced, and anti-dumping duties may reach 50%.
In addition, the new carbon tax (CBAM) is already affecting pricing. It is expected that imported rolled products with a high carbon content will become significantly more expensive, which will reduce the attractiveness of supplies from Asia. At the same time, import prices in Italy are rising to €507.5/ton at the beginning of August, compared with €470/ton in mid-July. In addition, the market expects a revival of demand in Germany after the trade agreement with the United States.
