ArcelorMittal raises European flat steel prices

Steel producer ArcelorMittal in Europe has raised flat steel prices by EUR 30 per tonne.

The ArcelorMittal chief confirmed the increase will be immediate.

“We are confident in what we see at the international level,” said the executive director. “Asia is raising prices, imports are increasing, and there is an agreement that restocking can begin. The signals are directed upwards, and Europe is lagging behind. "

Some market participants welcomed the move, seeing it as a possible move to stem further price drops, but other sources in the factory were hesitant to follow the market leader's move.

A German source at the mill said ArcelorMittal had offered rolled steel below prevailing price levels in the past few weeks and had to catch up.

“Prices dropped a lot earlier,” he said. “This may be a chance for us to move up, but I am skeptical about it because several second-tier factories are still being sold at the bottom of the market range.

Flat steel prices in Northern Europe declined in January, especially for hot-rolled steel, which has fallen to around € 20 per tonne since the beginning of the year.