Leading global steel producer ArcelorMittal, which in late August had increased its coil offers significantly across Europe given pressure from higher production costs, at the end of last week adjusted new offers for November deliveries materials. In particular, its HRC offers have settled at €810/mt, down by €40/mt from €850/mt in late August, but €10/mt higher compared to HRC prices for October shipment. At the same time, the producer’s offers for CRC and HDG are at €910/mt and €930/mt, both delivered.
“We do not think we can call it a price cut. €810/mt is still €10/mt more than October prices, less than their initial goal but still higher than today,” one of the biggest Italian producers told SteelOrbis. In the meantime, some market insiders have reported that the workable price from ArcelorMittal is estimated at around €780/mt ex-works.