Europe’s leading steel manufacturer, ArcelorMittal is planning to announce a hike in its flat steel prices by Euro 50/t ($61), SteelMint learned from trade channels. The revised prices are expected to be:
- HRC offers at Euro 1,150/t ($1,400)
- CRC and hot-dipped galvanized coils at Euro 1,300/t ($1,583)
The latest hike is the company’s third in May ’21. Supply crunch resulting from exhausted import quotas under EU’s safeguard duty and low inventory with end-users are the key reasons behind the price hike, SteelMint notes.
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