Posted on 23 Jan 2026
Participants are warning that the market may not be ready to accept a large rise in coil prices followed the recent announcement of increases by ArcelorMittal, Kallanish learns.
While the hike has likely been encouraged by the European Union’s Carbon Border Adjustment Mechanism (CBAM) coming into effect since the start of the year, the preceding months have seen a slow and gradual increase gaining ground.
“But attempts by steel mills to raise prices more quickly are likely to meet resistance from processors who are not yet able to pass on these costs,” a Dutch manager believes.
He sees recent import offers from Turkey and the Middle East for hot-rolled coil at up to €540/tonne ($633) cfr Antwerp. If adding CBAM costs, depending on the case, they would be barely below the European spot market, with HRC trading for €630-650/t ex-works until last week, he says. Arcelor’s new offers take HRC to €700/t.
The hikes appear bolder for cold-rolled coil and hot-dip galvanized coil, with offers now standing for CRC at €830 and for galvanized material at €820/t. The highest latest quotes were in the Netherlands with €750 for CRC and €760 for HDG.
Notably, the offer price of CRC has now eclipsed that of HDG. A German observer tells Kallanish that domestic mills lately have less interest in producing CRC, preferring HRC and HDG, resulting in CRC becoming scarcer on the market.
The Dutch manager also points at EU’s measures such as the ongoing anti-dumping investigation into CRC, where higher duties are expected soon. This, too, for mills justifies an extra premium for cold-rolled material, he notes.
One German buyer finds that ArcelorMittal “takes it too far”, and that the new prices for CRC and HDG in particular “do not fit the market at all; maybe for some special high-grade material.”
He is concerned that the new price calls will scare buyers, who then will become even more reserved. “Many will hold back their orders, and a standstill is always bad for the market,” he adds.
Source:Kallanish
