ArcelorMittal raises prices for hot-rolled steel in Europe to €630/t

Global steelmaker ArcelorMittal has announced a €20/t price increase for hot rolled steel (HRC), setting a new price of €630/t across Europe. This decision is due to stronger apparent demand in the first quarter of 2025, especially from the automotive industry, Argus.Media reports.

Steel imports to the EU are expected to decline significantly in the first quarter due to anti-dumping investigations against Egypt, Japan, India and Vietnam, as well as the 15% import quota. In addition, the European Commission’s revision of market protection mechanisms, which may come into effect in April rather than July as usual, may further restrict supplies.

Sources indicate that the quota volumes may be reduced in line with the decline in production and demand in the EU. It is likely that all developing countries will also be subject to safeguard mechanisms. In the galvanized steel market, it is planned to set limits for each country that sells within the quota of “other countries”. Countries with their own quotas may lose access to 30% of the “other countries” quota in April-June.

Some traders are already abandoning imports due to the tightening of restrictions and switching to the domestic market. Meanwhile, one of the HRC producers in Benelux has temporarily withdrawn its offer, planning to return to the market in January with higher prices.

As a reminder, ArcelorMittal last announced a price increase in early October 2024. At that time, the company increased its price offers for all long products, including rebar, beams and wire rod, by €40 per tonne.

Last month, the European hot-rolled coil market was relatively stable with minor price fluctuations. In Western Europe, prices increased by 0.9%  to €555-575/tonne Ex-works during November 1-22, while prices in Southern Europe remained stable at €520-540/tonne CIF and in Italy they rose by 2.8% – to €550-560/tonne Ex-works.

The main factors affecting the market were a decline in consumption in key sectors such as the automotive and engineering industries, as well as limited activity due to the uncertain economic situation.