Global steel giant ArcelorMittal has increased its coil offers once again across Europe, on the back of the ongoing shortage of supply. Its new offers for HRC are at €1,000/mt ex-works, up €30/mt compared to last week. At the same time, ArcelorMittal's offers for CRC and HDG are both at €1,150/mt ex-works, also up €30/mt compared to the previous levels. This is the company’s third price increase in April, for a total of €100/mt, while in the past two months the producer has increased its offers by €200/mt.
The latest increase had been expected by many sources, as reported by SteelOrbis this week, as transaction prices have been drawing closer to the previous target each day. Currently, HRC workable prices have surpassed the €950/t ex-works level on average across Europe. At the same time, workable CRC and HDG prices have reached prices between €1,070/mt and €1,100/mt, according to sources. As reported previously, many producers have been holding back from offering as they are sold out until late in the third quarter or have been waiting for further price increases. European buyers continue to struggle to secure the volumes they need.