Global steel giant ArcelorMittal has raised its flat steel prices in the EU market for the second time this month, SteelOrbis has learned. In northern Europe, its new offers for hot rolled coils (HRC) are at €850/mt ex-works, up €50/mt compared to March 5. At the same time, ArcelorMittal has increased its cold rolled coil (CRC) and HDG (hot dip galvanized) prices to €950/mt and €970/mt respectively, against the previous levels of €900/mt and €920/mt, all ex-works. In the Italian market, the producer is asking €820/mt for HRC, and €920/mt and €940/mt for CRC and HDG respectively, all ex works. Lead times for HRC are for September, while the other products may be delivered in the fourth quarter, sources reported.
Achievable prices in the EU market have been heard at €770-800/mt ex-works for HRC this week. However, both distributors and end-users have been struggling to obtain the material they need as domestic supply is extremely tight and most mills are sold out until late in the third quarter. Some mills have stopped giving offers and aim to come back to the market later this month with higher prices. Two Italian suppliers are said to be sold out until July and, when they resume offering, it will be for August deliveries. Sources said that some European mills have also been slow to deliver the material that their clients bought in past months. The supply situation is not likely to improve in the coming months as many European plants will undergo planned maintenance works in the summer.
Meanwhile, imports remain challenging due to the EU safeguard measures, antidumping duties, price increases by foreign suppliers, and also freight problems. According to one trader, "There are no offers coming from abroad at the moment. We sent inquiries to China and India last week, but they have not replied yet."