EU mills increase HDG and CRC offers

Market: Metals
11/01/22

European steelmakers are increasing hot-dipped galvanised (HDG) and cold-rolled coil (CRC) prices on the back of brisker demand, especially from automotive tier suppliers.

ArcelorMittal has set its target for HDG to €1,160/t in northern Europe from today, representing an increase of €30-50/t, after stronger demand from tier-two automotive suppliers. It is now targeting €1,140/t in Italy for HDG, although buyers in the region suggest it could accept lower levels. Hungarian producer Dunaferr has also increased its offer for HDG to €1,180/t, up by €60/t.

Despite securing strong rises in half yearly contracts, EU mills are more reticent on hot-rolled coil (HRC), where there is more supply and stronger import competition. ArcelorMittal has not increased HRC prices as yet, according to market sources.

Dunaferr is targeting €920/t delivered in Germany for HRC, up from its lowest sales of €880/t before the holiday break — it had also been making some sales at around €900/t.

Argus' Italian and northwest EU CRC assessments both increased today, to €1,040/t and €1,057.50/t, respectively. Conversely, the HRC indices both slipped in continued slow trade, with activity yet to restart after the holiday. The Italian index dropped by €5.25/t to €818.25/t, while the NW index slipped by €1.50/t to €904.50/t.

By Colin Richardson

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