Global steel giant ArcelorMittal has increased its flat steel offers in Europe for the first time this year on January 8, sources have told SteelOrbis. Its hot rolled coil (HRC) offers are now at €730/mt ex-works for second quarter shipments, up €30/mt compared to the previous offer level. Its cold rolled coil (CRC) prices have been increased by €40/mt on average to €820/mt, while its hot dip galvanized (HDG) coil offers are up €50/mt to €850/mt ex-works. The increase is due to the strong rise in demand from the automotive sector recently.
Since November last year, ArcelorMittal has increased its offers four times across Europe, by a total of almost €200/mt. HRC transaction prices are currently at the average level of €670/mt ex-works in the EU market, i.e., virtually stable compared to late December, but it is believed they will increase further in the coming weeks as supply remains tight both domestically and from foreign sources.