ArcelorMittal raises prices for hot-rolled coil in Europe by €30/t for April

Global steel producer ArcelorMittal has announced a €30/t increase in hot-rolled coil (HRC) prices in Europe for April deliveries, Fastmarkets reports, citing market sources.

The new offers are €700/t compared to €670/t for March deliveries.

ArcelorMittal has also announced new offers for cold-rolled and hot-dip galvanised coil. Prices for cold-rolled coil with delivery in April will increase to €830/t, and for hot-dip galvanised coil to €820/t.

The company’s new offers have not yet been backed up by agreements, the agency notes. However, market sources note an improvement in sentiment in the European flat steel market. Nevertheless, the recent rise in prices for these products in Europe was largely due to changes in trade regulations, in particular the final introduction of CBAM and potential new protective measures, while real demand remained sluggish.

In January, European prices for hot-rolled steel continued to rise slowly, with sources among buyers pointing to increased dependence on European mills, while new imports became uncontrollable.

However, Fastmarkets notes that hot-rolled coil prices in the region remain below ArcelorMittal’s target offers, with recent trades in Northern Europe at €630-640/t ex-works.

It should be recalled that the American steel company Nucor raised its weekly spot price for hot-rolled coil (HRC) to $960 per short tonne, which is $10/t more than a week earlier. The current adjustment was the first increase since the beginning of the year, which may indicate a gradual recovery in price dynamics in the US domestic steel market.