ARCELORMITTAL INCREASES HRC OFFERING TO COUNTER RISING ENERGY AND SHIPPING COSTS

1 September, 2022 by
Administrator

According to many market sources, ArcelorMittal has announced an increase in offers for all flat products throughout Europe.

For October rolling and November production, new offers for HRC have been reported at EUR 800 (USD 798) per ton EXW and EUR 850 (USD 847) per ton EXW, respectively. These new offers are around EUR 100 (USD 99.7) per ton higher than those from previous month.

For October and November, respectively, the company's fresh proposals for CRC were heard at EUR 900 (USD 897) per ton and EUR 950 (USD 947) per ton EXW.

For the months of October and November, HDG offers were recorded at EUR 930 (USD 927) per ton EXW and EUR 980 (USD 977) per ton EXW, respectively.

According to reports, the price increase is required on the European market to meet rising energy and logistical expenses. Evidently, current coil prices are at or below production costs. Distributors also have large stocks of pricey materials they bought earlier this year.

According to certain industry participants, the offer increase would aid in reversing the negative trend in the EU market. The majority of the sources, however, cast doubt on the scope of a potential price recovery due to weak demand caused by inventory and end users' low steel consumption.

The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.

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