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| ArcelorMittal |
ArcelorMittal has announced a €30/tonne ($20.8-31.2) price increase on coil products in Europe, effective for April deliveries, as order books for Q1 remain full. The price hike reflects strong domestic demand and tightening EU import restrictions, prompting buyers to source more material locally.
Market Trends and Price Adjustments
Hot rolled coil (HRC): New asking prices set at €660/t base delivered.
Hot-dipped galvanized coil (HDG): Prices rising to €780/t base delivered.
Lead times: Extended to April, signaling solid booking volumes.
Sources indicate demand recovery in some European countries, further supporting the upward price trend.
EU Trade Policies and Steel Safeguards
The European Steel Association (Eurofer) has recommended stricter safeguard measures to the European Commission, aiming to curb steel imports. Key proposals include:
- Reducing tariff-rate quota volumes to align with declining EU steel demand.
- Raising safeguard duties to 32-41%.
- Capping quotas for other product categories at 15%, continuing the restrictions placed last year on HRC and wire rod.
With import constraints tightening, European mills, including ArcelorMittal, are capitalizing on increased domestic demand, strengthening their pricing power.
