Top steelmaker ArcelorMittal is hiking prices of hot dip galvanised coils by Euro 30-50/tonne ($34-57/t) on account of an increase in automobile-related demand.
After the hike, galvanised coil prices will be Euro 1,160/t ($1,319/t) ex-works in North-western Europe and Euro 1,140/t ($1,296/t) in Italy.
Hungarian steelmaker Dunafer plans to raise the price of hot-dip galvanised coils to Euro 1,180/t ($1,341/t), up Euro 60/t ($68/t) from previous levels.
In the case of HR, the Italian price was Euro 818.25/t ($930/t), up $6/t compared to prices in end-Dec'21. Prices in North-west Europe were Euro 904.50/t ($1,028/t), down Euro 1.5/t compared to end-Dec.
HRC prices
Unlike hot-dip galvanized coils, there is little scope to raise the price of hot-rolled coils (HRCs). The increase was not carried out because the domestic supply of hot-rolled products and imports from overseas were greater than hot-dip galvanized coils or cold-rolled coils (CRCs).
ArcelorMittal did not raise HR prices while Dunafer intends to raise the price from Euro 880-900/t ($1,000-1,023/t) in Germany to Euro 920/t ($1,046/t).
CRC prices
As a result of the increase in galvanisation costs, the price of cold-rolled products rose to Euro 1,040/t ($1,182/t) in Italy and Euro 1,057.5/t ($1,202/t) in North-western Europe on 11 Jan.
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