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EUROPE HRC WRAP: Domestic prices inch up in north, stable in south


EUROPE HRC WRAP: Domestic prices inch up in north, stable in south
Domestic prices for steel hot-rolled coil in Northern Europe increased over the week to Friday February 19, supported by good order books at domestic producers and solid demand.
Prices in the South of the region, in the meantime, were stable over the same period.
Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at €723.75 ($877.00) per tonne on February 19, up by €3.75 per tonne week on week and by €4.75 per tonne month on month.
The calculation of Friday’s index was based on achievable prices heard at €710-730 per tonne ex-works and a deal reported at €725 per tonne ex-works. ....

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Price notice: Proposal to launch daily domestic HRC index for Italy | American Metal Market


Fastmarkets is proposing to launch a daily index for Italy’s domestic steel hot-rolled coil market to replace the existing weekly price assessment for the product in Southern Europe.
HRC production in Italy was an estimated 7.6 million tonnes in 2020, accounting for 11% of output in the European Union, according to Fastmarkets’ research team.
Domestic production in Italy is likely to increase due to ArcelorMittal Italia s target of producing 5 million tonnes per year of HRC, up from 3.4 million tonnes in 2020.
Since the Italian HRC market has traditionally had a higher number of independent distributors and buyers than other parts of the EU, it accounts for a larger share of spot transactions. ....

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ArcelorMittal reports fourth quarter 2020 and twelve months 2020 results


Commenting, Mr. Lakshmi N. Mittal, ArcelorMittal Executive Chairman, said:
“2020 was a year of enormous challenge as countries, societies and businesses across the world grappled with the disruption caused by the COVID-19 pandemic. The impact on the steel industry was significant, but I am very proud of the resilience and enterprise shown by our people across the business which enabled ArcelorMittal to deliver a solid operating performance in times of adversity. We have fantastic teams across our operations.
Indeed, 2020 was a milestone year for the Company. Achieving our $7 billion net debt target marked the end of a long-term deleveraging program, and the start of a new phase which will allow the Company to focus on delivering sustainable shareholder returns as we continue to transform for the future. This process will be supported by changes we made to our portfolio, increasing the quality of its earnings potential, and by the investments we are making in high-growth ....

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