European Mills Increase Coil Costs Even More

According to reliable sources, ArcelorMittal increased its price hints this week by an additional €20/tonne ($21), raising HRC offers to €870/t ex-works for all of Europe and hot-dip galvanized tubing to €990/t ex-works base.

This week, offers from import sources, like India, have increased once more, allowing European suppliers more room to increase their quotes.

Additionally, sources point out that the availability of coils in Europe is still impacted by some production restrictions.

At the end of February, Tata Steel declared force majeure at its Ijmuiden plant. It is believed that other European suppliers of cold rolled coil and HDG profited from this, booking a sizable number of orders for delivery through July.

A source in the Benelux also reports that output restrictions continue at some facilities in Belgium, including NLMK Louviere, where production is still restricted after a fire there at the end of December.