ArcelorMittal raises prices for hot-rolled coil in the EU for March by €20/t

Global steel producer ArcelorMittal has announced a €20/t increase in hot-rolled coil (HRC) prices in Europe for March deliveries. The new offers are €670/t Delivery Basis, while for January-February deliveries, the price announced back in October was €650/t. This was reported by Fastmarkets with reference to market sources.

At the same time, activity was lower in the cold-rolled and galvanized steel segments. The latest deals for galvanized steel in Northern Europe were recorded at €760/t Delivery Basis. Some sources also reported March offers at €780/t, which is €30/t higher than the levels for January-February.

The new offers have not yet been confirmed by actual deals. At the same time, market participants note growing optimism among producers amid recent changes in the EU trade regime and the CBAM mechanism. Regulatory factors have been the key driver of the recent price increase, while actual demand remains sluggish.

“Flat steel prices are rising slowly, but only because of concerns about future costs, not because of demand,” said a buyer from Germany.

Italian importers also report an almost complete halt in imports due to the financial risks associated with the new rules, which increases dependence on domestic suppliers.

It should be recalled that in November, the global market for hot-rolled coil showed a predominantly upward trend. In the EU and the US, prices rose amid more stable demand and reduced supply, while China, on the contrary, remained under pressure from seasonal decline and competition in export markets.