ArcelorMittal has announced its new prices, increasing its hot rolled coil offerings across Europe. The fact that other producers were not active in the market and that market participants expected price increases were the two most important factors that caused the increase. The company has set new prices for June roll shipments at the level of Eur 870/mt EXW Ruhr compared to previous offers.
The stagnation in trading activities and the reluctance to buy volume also affected buyers' roll purchases.
European steelmakers are offering flat steel for May-July shipments. However, the congestion of both domestic and international supplies causes production rates to remain low. European manufacturers' order books are still full.
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