ArcelorMittal raises prices for flat products in Europe by €30/t

Global steelmaker ArcelorMittal has announced a €30/t price increase for steel coils in Europe, effective for shipments in April, Kallanish reports, citing market sources.

The company’s production facilities in Europe are currently at full capacity, and orders for the first quarter have already been placed. In the new quotas, the price of hot-rolled coil is set at €660/t (base delivered), while galvanized coil will rise to €780/t.

Factors contributing to the price increase include import restrictions in the EU, which are forcing buyers to look for products on the domestic market. Some European countries have also seen an improvement in demand, which supports the growth of quotations.

Meanwhile, the review of EU safeguards on steel imports continues. The EUROFER Association has submitted recommendations to the European Commission to tighten restrictions. The proposals include a reduction in tariff quotas in line with the decline in EU steel demand and an increase in import duties to 32-41%. EUROFER also insists on a 15% quota limit for other product categories, as previously set for hot-rolled coils and wire rod.

Changes in import policy and growing domestic demand create conditions for further steel price increases in Europe in the coming months.

As GMK Center reported earlier, in mid-January, ArcelorMittal announced a €25/t price increase for long products in all European regions. The price hike applies to rebar, welded mesh, sectional products, and low-carbon and high-carbon wire. The main reason for this step is the significant increase in energy costs, which makes current prices for long products unprofitable.