|ArcelorMittal raises flat steel price offers for third time this month - Platts|
Mar. 26, 2021 2:38 PM ET ArcelorMittal (MT) By: Carl Surran, SA News Editor 18 Comments
Steel stocks are marching higher as ArcelorMittal ( MT +7.0%) raises prices for hot-rolled coil offers to €900/mt and hot-dipped galvanized offers to €1,500/mt across Europe, S&P Global Platts reports.
The fresh increase from €850/mt for HRC and €970/mt for HDG is the third this month and comes just a week after the last price hike, as Europe continues to cope with demand that is outpacing supply and no cheap import offers.
Also: X +8.2%, CLF +6.9%, NUE +6.6%, STLD +4.8%, SLX +3.4%.
Steel supply and demand have been off balance since Q3 2020, as rising demand after pandemic-related closures outpaced the mills' ability to ramp up.