Global steel giant ArcelorMittal has increased its price offers to €600/mt ex-works for hot rolled coil (HRC) in northern Europe, effective immediately, according to market sources. At the same time, the steelmaker is offering hot dip galvanized (HDG) coils at the base price of €700/mt ex-works. The producers' offers in other European regions have increased accordingly. ArcelorMittal has hiked its offers by about €50/mt on the back of limited supply, good order books, and a lack of competitive import offers. As reported previously, all European mills are offering material for shipment in the first quarter of 2021, and even for April in some cases.
Meanwhile, transaction prices have increased further compared to Tuesday this week, reaching €530-540/mt ex-works in northern Europe, and €500-520/mt ex-works in the Italian market, both up €10/mt.
As for the import market, SteelOrbis has learned that an Indian producer is offering HRC to the EU market at $620/mt CFR (€524/mt CFR).
$1 = €0.85