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ArcelorMittal, one of Europe’s leading steel producers, has raised its prices for hot-rolled coil (HRC) in Europe to €630/t for December deliveries, Fastmarkets reports.
The price for HRC with delivery in January rose to €650/t. The market had been expecting this move after the EC proposed new trade defense measures.
According to analysts, the information was communicated to certain industry consumers.
According to Kallanish, the market also attributes the increase in supply to production disruptions at the company’s FOS-sur-Mer facility following a recent fire. In addition, according to German sources, the upcoming Blechexpo trade fair in Stuttgart is a backdrop.
At the same time, producers of hot-rolled coils in Southern Europe have also increased their prices by about €30/t compared to previous levels. Prices for cold-rolled and hot-dip galvanized coils are also rising. However, demand has not yet shown a recovery.
At the end of last week, prices for European hot-rolled coil remained largely stable, according to SteelOrbis, as market players were cautious after the EC’s announcement. Mills in Northern Europe were targeting €600-610/t ex-works for new orders for December delivery, although actual prices were lower. The market expected European mills to raise their offers in the coming weeks due to tougher import conditions.
ArcelorMittal welcomed the EC’s proposal for new protective measures on steel imports. Gert Van Poelwode, CEO of ArcelorMittal Europe, said that the group and European steel producers had been heard.
As reported by GMK Center, on September 26, the European Commission imposed definitive anti-dumping duties on imports of certain hot-rolled flat products originating in Egypt, Japan, and Vietnam, which will remain in force for five years. The EC thus replaced the previous duties that had been applied earlier. An investigation was also conducted into similar products from India, but it was not established that imports from that country were dumped.
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