VIDEO: Will European mills achieve higher flat product prices?

Some European steel mills have announced price hikes for flat products, but how likely is it that customers will accept them? Steel First gets the views of Graham Sharkey, steel market analyst at sister company Metal Bulletin Research.

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ArcelorMittal, the world’s largest steelmaker, has announced that it will increase prices of all carbon steel flat products in Europe.

Italian steel producer Marcegaglia has also said that it will raise its flat product prices.

However, these attempts to hike prices comes on the back of a series of poor quarterly results announcements from Europe’s steelmakers rather than on the back of any signs of an actual increase in demand. 

However, market participants remain sceptical about whether any price increases can be achieved right now in Europe, either partially or in full.