ArcelorMittal increases HRC prices in EU market

Monday, 13 January 2020 17:06:18 (GMT+3)   |   Brescia
       

According to market sources, global steel giant ArcelorMittal has increased its hot rolled coil (HRC) base prices across the European market. The producer is now aiming at €480/mt in Italy and at €500/mt in northern Europe, both ex-works and for March shipments. The increase amounts to €30/mt since ArcelorMittal was quoting at €450/mt ex-works in the Italian market previously. The main reason behind this move is the strong gap between domestic prices and import offers.

Furthermore, as mentioned previously, production cuts and firm raw material costs have been supporting local prices in the past several weeks. Currently, HRC transaction prices are around €430/mt ex-works in the Italian market, up €5/mt compared to last week. Meanwhile, they have remained stable in northern Europe, i.e., at €440/mt ex-works. Market sources believe these levels will increase gradually in the coming days due to the abovementioned factors.


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