ArcelorMittal, with its unprecedented geographic reach within the steel sector, provides a regular bellwether for global steel price comparison in its quarterly reports, Kallanish notes.

In its latest review for the third quarter of 2016, the steelmaker supplies data relating to its average steel price by region in the period. The report covers the company’s operations in the North American Free Trade Area (Nafta), Brazil, Europe, and Africa and the CIS (ACIS).

In Q3 2016, ArcelorMittal’s average steel selling prices rose in all regions quarter-on-quarter (see table). The biggest q-o-q change was seen in Brazil, with the Nafta markets also seeing a significant rise. Prices in Europe also rose noticeably.

Year-on-year the situation was somewhat different with prices in Brazil showing a fall and the Nafta average selling price upticking only slightly. In ACIS, the mean price moved very little both on-quarter and on-year. Europe showed the healthiest y-o-y rise but this was from a relatively weak base in 2015.

It is no secret that the flat products market globally remains significantly more buoyant than that for long products and this is also clearly signalled in the on-quarter comparison.

ArcelorMittal average selling prices Q3 2016 ($/tonne)
Region Q3 16 Q2 16 Q-O-Q change     Q315 Y-O-Y change*
  $/t $/t All products Flats Longs $/t  
Nafta 715 660   +8.3%   +8.5% +4.0% 698   +2.4%
Brazil 582 515 +12.9% +22.0% +7.1% 622    -6.4%
Europe 596 562   +6.0% +7.7% +2.9% 514 +15.9%
ACIS 419 409   +2.5%    n/a    n/a 416   +0.7%

Source: ArcelorMittal

* Kallanish calculation