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
A survey of consumers in the UK and Germany shows that the majority of shoppers are happy to purchase a variety of home and personal care products in cartons made from paperboard, including laundry detergent, fabric softener, and hand soap. According to research commissioned by Elopak and conducted by Absolute Research, 65% of respondents said […]
This consultation, which is open until June 12, 2024, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency. Please find […]
Moving forward from this date, the discontinued PPI Europe assessments will be replaced in PPI Europe Price Watches with the full suite of PIX Recovered Paper Prices including PIX OCC 1.04 dd, PIX ONP/OMG 1.11 dd, PIX RCP Mixed 1.02 GER, and PIX SOP and PIX Multiprint. The above new price coverage will be in accordance with our PIX European […]
This consultation, which is open until May 23, 2024, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) Principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency. Fastmarkets FOEX […]
Fastmarkets has corrected the pricing rationale for MB-AL-0302 aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region), $/tonne, which was published incorrectly on Friday April 19. No prices were corrected.
Both NBSK pulp and BEK pulp prices jumped up in March, with more price hikes announced