ArcelorMittal Europe announces contract HRC price rise; spot market rise expected soon

ArcelorMittal Europe has increased the price of hot-rolled coil (HRC) in long-term contracts with steel distributors and service centers in the north of the EU, sources told Fastmarkets on Wednesday October 21.

The new offer price was €550 ($649) per tonne ex-works, up by roughly €80 per tonne compared with previous contracts, according to market participants’ estimates.
Market sources also said that contracts with automotive manufacturers have not been settled yet and that those prices would be negotiated separately.
European buyers expected that the producer would also increase spot-market prices soon, and that other mills would follow.

Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe,...

Published

Maria Tanatar

October 21, 2020

17:22 GMT

London