Europe: ArcelorMittal hikes HRC prices by Euro 30/t ($34/t)

ArcelorMittal Europe has announced a hike in northwest European HRC prices by around Euro 30/t ($34/t). Post revision, the effective prices stand at around Euro 970/t ($1,108/t) on ex-works basis.

Prices have been raised considering gas supply concerns and a revision in Turkish HRC prices after the European Commission announced that they are not imposing interim tariffs on Turkish hot-dipped galvanised coils. Turkey's hot-dipped galvanised coil prices stand at around $900/t FOB levels.

After price hike by ArcelorMittal, other small scale manufacturers in northern Europe and Visegrad are following the suit.

In northwest Europe, HRC prices stood at Euro 906/t ($1,035/t) ex-works as assessed on 28 Jan'22, up by Euro 5.5/t ($6/t) against 25 Jan.

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