ArcelorMittal has raised coil prices by a further €20/tonne ($23) across northern Europe. The increase applies to new contracts for remaining third-quarter delivery slots and for October shipments, according to market sources.
The new base price for hot rolled coil is now at €610/t delivered, up from €590/t at the end of July. This move follows growing import restrictions, including a safeguard replacement measure expected from the European Commission.
According to buyers who spoke to Kallanish, the increases will consolidate in the coming weeks as options to buy from Asia are now fading due to the future costs of the Carbon Border Adjustment Mechanism (CBAM), which takes effect in January 2026.
European steel association Eurofer recently expressed strong support for a French-led proposal outlining a “highly effective” new trade instrument aimed at tackling global overcapacity and safeguarding the European steel industry (see Kallanish 30 July).
The French non-paper urges the European Commission to quickly propose a new safeguard mechanism that should be in place by 1 January 2026, in advance of the safeguard measure expiration at end-June. This should reduce imports’ share back to 2012-2013 levels.
A major coil buyer, who sources spot market material priced on indices, believes Eurofer is likely to achieve “strong results” in European trade policy. As a result, the market could soon face reduced import quotas and anti-dumping duties of up to 50%. According to the buyer, these measures may be introduced earlier than expected.
Natalia Capra France
