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

Global mining and steel company ArcelorMittal has announced a €30/t price increase across its entire long products range in Europe, according to Kallanish, citing market sources.

Other EU producers have also announced their intention to increase prices by €20-30/t, demonstrating growing confidence in their ability to pass on rising costs to consumers.

The plants explain that several factors are influencing the new quotations, including rising energy costs, higher scrap prices, and increased CO2 emission costs. In particular, the price of HMS 80:20 scrap rose by approximately $26/t in November, and winter electricity tariffs in Europe continue to rise. The cost of CO2 allowances in the EU ETS system is currently around €80/t, which is approximately 10% higher than the annual average.

ArcelorMittal is setting a new price benchmark just ahead of the expected price recalculation under the influence of CBAM. The current increases do not yet take into account the additional pressure that CBAM will put on the wire rod and rebar segments. It will be particularly noticeable in markets where imports account for a significant share. According to market participants, the next round of price increases, linked to the full implementation of CBAM and a possible rise in the cost of ferroalloys, is expected as early as mid-January.

The current changes apply to rebar and wire rod and took effect immediately for new orders. In November, ArcelorMittal also increased prices for long products in the beam segment by €30/t, confirming the stable upward trend in the market.

It should be noted that in October, rebar prices in the EU showed mixed trends. In Italy, offers rose by 1% between September 26 and October 24, to €520/t Ex-works, although in September there was an 8% month-on-month decline. In Northern Europe, prices continued their September decline, falling by 0.8% (September 26–October 24) to €605/t Ex-works, the lowest level since November 2023.