<article><p class="lead">Luxembourg-based steelmaker ArcelorMittal increased offers for hot-rolled coils (HRC) for April deliveries onwards today to €650/t ex-works across all European plants.</p><p>The producer will target €750/t ex-works for galvanised material. </p><p>The last price increase, on 19 November, pegged offers at €600/t ex-works and €700/t, respectively. </p><p>But the uptrend in prices, supported by supply tightness across the continent, is giving confidence to the mill it will be able to reach higher levels for the second quarter. </p><p>The supply scarcity has been brought on the market by reduced production after the initial outbreak of Covid-19 and subsequent lockdowns, and exacerbated by import restrictions such as the safeguards, and the European Commission's anti-dumping and anti-subsidy investigations on Turkish HRC. </p><p>This coincided with a revival of demand, especially from the automotive industry, after production stops in spring and early summer, which led to reduced car inventories into the autumn.</p><p class="bylines">By Lora Stoyanova</p></article>
