ArcelorMittal hikes steel HRC offer to €600/t

ArcelorMittal hikes steel HRC offer to €600/t

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European steel producer ArcelorMittal is increasing hot-rolled coil (HRC) prices to €600/t with immediate effect, reducing the validity of its offer given the accelerated upwards dynamic in the rest of the world and firm domestic demand.

It will hike its hot-dip galvanised offer to an equivalent base price of €700/t.

The move is well timed, given growing issues about availability among buyers. Many sat back in October as the market stabilised and have returned to be confronted with higher and fewer import offers, tighter availability and rising domestic prices.

ArcelorMittal’s official HRC offer had been €550/t. But certain buyers, particularly in the Iberia peninsula region, were getting quotations above this level.

Some buyers that purchase on monthly programmes are already discussing February and March having just finalised January, given the fears about supply security.

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