NEWSBREAK: ArcelorMittal Europe raises HRC prices by $36/t

ArcelorMittal has again increased its official offer prices for hot-rolled coil in Europe by €30 ($36) per tonne, sources told Fastmarkets on Friday May 7.

The steelmaker had already increased its offers four times in April.

After the rise, new offers for HRC have reached €1,050 per tonne ex-works.

ArcelorMittal, however, kept its offers for downstream products unchanged at €1,200 per tonne ex-works for cold-rolled and hot-dipped galvanized coil.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at €1,020.83 per tonne on May 6, up by €32.50 per tonne week on week and up by €135.83 per tonne month on month.

The index was based on achievable prices estimated by market sources at €1,000-1,020 per tonne ex-works and €1,020-1,050 per tonne ex-works.

Most European producers were offering HRC for delivery in early-fourth quarter, market sources said.

Long delivery times and the short supply of material will keep pushing European coil prices further upward, market participants predicted.

European buyers have been struggling to secure volumes from either domestic or overseas suppliers. This week, European mills were largely away from the market since they feel no pressure to secure more orders due to good order books and they also prefer to wait and see before they start trading fourth-quarter rolling, market sources said.

The limited availability of imports was adding to the picture, exacerbating the shortage of material.

What to read next
MB-STE-0027 Steel cold-rolled coil domestic, exw Southern Europe, €/tonne was incorrectly published as €710-750 per tonne, now corrected to €730-750 per tonne. MB-STE-0031 Steel hot-dipped galvanized coil domestic, exw Southern Europe, €/tonne was incorrectly published as €700-730 per tonne, now corrected to €730-750 per tonne. MB-STE-0030 Steel hot-dipped galvanized coil domestic, exw Northern Europe, €/tonne was incorrectly published as €710-745 per […]
Fastmarkets has corrected its AG-UCO-0010 Used cooking oil, cif Amsterdam, Rotterdam, Antwerp price, which was published incorrectly on December 15.
On Wednesday December 3, the EU unveiled its ReSourceEU Action Plan, providing new guidance on critical raw materials supply, with a renewed emphasis on defense and $3.5 billion in funding for the coming year.
Fastmarkets proposes to amend the pricing frequency of its copper grade A cathode premium, delivered Germany; copper grade A cathode premium, cif Leghorn; and copper EQ cathode premium, cif Europe to one a week from the current fortnightly basis, effective December 30.
The publication of Fastmarkets’ black mass inferred prices for Monday December 8 were delayed due to a technical error. Fastmarkets pricing database has been updated.
The following prices were affected: MB-STE-0892 – Steel hot-rolled coil index domestic, exw Italy, €/tonne MB-STE-0028 – Steel hot-rolled coil index domestic, exw Northern Europe, €/tonne These prices are a part of the Fastmarkets steel package. For more information or to provide feedback on the delayed publication of this price or if you would like to provide […]