ArcelorMittal is set to raise coil prices by €30/tonne ($20.8-31.2) in Europe, effective for deliveries in April, according to market sources.
Lead times at the steelmaker’s facilities in Europe have now been extended to April, as order books for the first quarter are reported to be full. Current asking prices for hot rolled coil in the new allocations are positioned at €660/t base delivered. Sources indicate that prices for hot-dipped galvanised coil are rising to €780/t base delivered.
Import restrictions in the EU are driving customers to source material domestically within Europe. Demand in some European countries is said to be improving, according to some sources, Kallanish hears.
Amid the ongoing review of EU steel safeguard measures, Eurofer has provided recommendations to the European Commission on making the measures more restrictive. The association is proposing reducing tariff-rate quota volumes to reflect declining EU steel demand and raising the safeguard duty to 32-41%. It also wants to cap quotas for other product categories at 15%, as was done last year for HRC and wire rod.
Natalia Capra France
