ArcelorMittal raising EU longs offers by €30/t

ArcelorMittal has started this week announcing to its European clients the intention to raise offers for all commodity grade long products by €30/tonne ($36.12/t).

The move was triggered by good demand in the market, low stocks across the supply chain and persistent high raw material costs.

It is understood the increases will be applied to all new monthly agreements for commodity grade products. Longer term contracts for higher specifications are also moving up, but at a different pace.

According to Kallanish rebar European indexes, both in Northern Europe and Italy this year’s peak level was reached at the end of January, after a six months rally started in July 2020. Lately prices have recovered somewhat their strenght, but volatility has been less than in Q4 2020.

Emanuele Norsa Italy