SteelOrbis has learned that global steel giant ArcelorMittal raised its offers for cold rolled coils (CRC) and hot dip galvanized (HDG) coils by €20/mt across Europe late last week. The company’s new CRC offers have reached €880-890/mt, while its HDG offers are now at €900/mt, both ex-works and for deliveries from late May onwards.
The main reason behind the increases remains the severe shortage of supply in the EU market. The problem also concerns hot rolled coils, for which, however, ArcelorMittal has not announced any increase this time. "It is likely that ArcelorMittal does not want to risk allowing a further increase of import volumes," one source commented. HRC offers from South Korea, India and Russia recently stood at €700-710/mt CFR southern Europe, for shipment in June. Meanwhile, Turkish offers came to around €725/mt CFR, duty paid.
In the EU market, transaction prices currently amount to €710-740/mt ex-works in the case of HRC. CRC and HDG prices are respectively at €820-860/mt and €830-870/mt ex-works. In all cases, the lower end of the range refers to the prices recorded in southern Europe.