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August, 19th 2019

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MAY 14
18:54

Marcegaglia increases European coil and tube prices

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Italy’s Marcegaglia is following ArcelorMittal’s lead and raising prices for its processed coil and tube products with immediate effect, the processor and tube specialist tells Kallanish in an exclusive interview.

In Europe prices for both coil and tube will be increased by €20-30/tonne ($22.4-33.6/t), ceo Antonio Marcegaglia says. This is in line with price hikes for HRC in the European market implemented at the end of last week, the executive adds.

CRC prices will now start at €550-560/t base ex works, while HDG material will be available from €560-570/t base ex-works, the company confirms.

ArcelorMittal announced an increase in its European HRC prices in an unexpected move on 10 May. This followed its decision to cut production in Europe by 3 million tonnes. The Luxembourg-headquartered steelmaker cited strong raw material costs as a reason for the price hike.