- Tighter import volumes may support European HRC prices
- Higher CO2 costs add pressure on production costs
ArcelorMittal has increased its hot-rolled coil (HRC) prices in Europe by EUR 20/t ($23/t) for November 2026 deliveries, citing higher production costs due to rising raw material and energy expenses. The increase comes as European steel mills continue to have relatively healthy order books and face lower competition from imports.
Higher prices of coal, natural gas and electricity have raised production costs for mills, while rising CO2 costs have added further pressure. Ongoing instability in the Middle East has also created uncertainty around energy and freight costs.
Meanwhile, Import availability is also expected to tighten following changes to the EU’s steel safeguard regime, which will limit duty-free import volumes.
These developments are giving European mills more scope to raise prices. ArcelorMittal and other producers are understood to have relatively healthy order books for HRC, cold-rolled coil (CRC) and hot-dip galvanized (HDG) products. As a result, mills have less need to offer large discounts to secure orders.
Following the latest increase, ArcelorMittal’s HRC offer in Southern Europe has risen to around EUR 790/t ($918/t) base delivered, from EUR 770/t ($895/t) previously.
Overall, the latest EUR 20/t ($23/t) increase reflects higher production costs, lower import competition and tighter import availability. Relatively healthy order books are also supporting mills’ efforts to achieve higher HRC prices.
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