ArcelorMittal offers hot rolled coil for delivery for €780/ton ($848) in Western Europe, while customers in Eastern Europe are offered hot rolled coil for delivery for € 800/ton. These offers are valid for new orders that will be placed in March.
This movement in the price was expected in the market in recent weeks and was also expected to give a new impetus to the ongoing recovery in spot prices.
In Northern Europe, deals bottomed out at €650/ton in mid-November 2022 and have increased by €80/ton since then. The recovery recorded in the last two months was seen as the rise of European hot-rolled steel prices for the first time since prices began a long negative cycle in mid-March 2022.
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