ArcelorMittal raises prices for hot rolled coils in Europe
Global steel producer ArcelorMittal has announced an increase in the price of hot-rolled coils (HRC) in Europe for April shipments of €30/ton. This is reported by Fastmarkets, citing market sources.
The new offers amount to €700/t compared to €670/t for delivery in March.
ArcelorMittal also announced new offers for cold-rolled and hot-dip galvanized coils. Prices for a cotton roll with delivery in April are increasing to €830/ton, for a hot–dip galvanized roll - up to €820/ton.
The company's new proposals have not yet been backed up by deals, the agency notes. However, market sources note an improvement in the mood in the European flat-rolled market. However, the recent rise in prices for these products in Europe was mainly due to changes in trade regulations, in part, the final introduction of CBAM and potential new protective measures, while real demand remained sluggish.
In January, European prices for hot-rolled products continued to rise slowly, with sources among buyers noting increased dependence on European factories, while new imports became uncontrollable.
Nevertheless, for now, prices for hot–rolled products in the region, Fastmarkets notes, remain below ArcelorMittal's target offers - recent deals in Northern Europe amounted to €630-640/ton free-of-charge.