Hot rolled coil (HRC) prices have increased further in the EU market compared to earlier this week, due to the ongoing shortage of material both from domestic and foreign suppliers. Market sources have reported that steel giant ArcelorMittal has increased its HRC offers to €700/mt ex-works across Europe for its second quarter output. The move comes just two weeks after ArcelorMittal's decision to push up its offers to €650/mt, and a month after the company increased them to €600/mt, all ex-works. Meanwhile, market sources have reported that this week an Italian producer has started offering HRC at €650/mt ex-works. As reported previously, all European mills are sold out for first quarter shipments.
Transaction prices for hot rolled coil (HRC) have reached €630-650/mt ex-works on average in northern Europe and €610-640/mt ex-works in the Italian market, both up €40/mt compared to December 15.
At the same time, ArcelorMittal has announced a price of €800/mt ex-works with immediate effect for hot dip galvanized (HDG) coils.