HRC prices are still increasing in the European market amid short supply and high energy costs. According to sources, leading steel producer ArcelorMittal increased its coil offers further on March 16. The company's HRC offers are up €100/mt, from €1,300/mt announced on March 10, to €1,400/mt. At the same time, the producer's offers for CRC and HDG are at €1,500/mt and €1,550/mt respectively, also up €100/mt.
Achievable transaction prices in the EU market are currently above the €1,300/mt ex-works level, while before the invasion of Ukraine by Russia transaction prices were at €950-1,000/mt in northern Europe and at €870-900/mt in the Italian market, both ex-works. Many producers have not yet returned to the market, and only a few deals have been concluded for limited volumes since the beginning of March. Some sources expressed their concerns that demand may be paralysed if prices continue to increase.