ArcelorMittal hikes EU longs as positive momentum returns

ArcelorMittal started informing customers from the end of last week of a new price increase for spot commodity grade long products – wire rod, rebar and beams – sales, Kallanish learns from sources.

The price hike is effective from Friday last week for all new orders and is being implemented by the group’s sales team. Offers are being hiked €30-45/tonne ($36-54) depending on the markets and products.

A source close to ArcelorMittal notes that sentiment and demand have picked up again in northern and Eastern Europe after a short-lived period of uncertainty. Further hikes could be envisaged in the coming weeks, he adds.

Demand is reported to be good for construction long products, with order books well filled at mills in northern Europe. Wire rod availability seems to be particularly tight.

The Kallanish northern European rebar price series corrected downwards a little in February, while Italian prices dropped more significantly. However, better sentiment is returning in most EU markets as the construction peak season begins.

Emanuele Norsa Italy