European hot-rolled coil (HRC) prices firmed today as mills increased their offers. The Argus daily northwest EU HRC index rose to €532.50 per tonne, up by €10.50 on the day, while the Italian HRC index increased by €3.50 to €534.50 per tonne.
ArcelorMittal raised its HRC offer by €40 per tonne, and NLMK La Louviere increased its prices by €20-30 per tonne. Italian steelmaker Arvedi also raised its prices by €40 per tonne.
These price hikes come amid rising costs and a push from mills to stabilize prices ahead of an industry fair in Germany and the start of automotive contract talks.
Despite the price increases, demand remains low, with automakers postponing contractual tonnages and service centers trying to destock ahead of the financial year-end.