ArcelorMittal, one of the world’s largest steel producers, has raised its prices for hot-rolled coil (HRC) in Europe by €20/t ($23/t) for deliveries in November 2026. This was reported by BigMint.

The decision was taken against a backdrop of rising production costs, driven by increases in the prices of raw materials and energy. The price rises are also being driven by a consistently full order book at European steelworks and reduced competition from importers.

The main pressures on production costs stem from rising prices for coal, natural gas and electricity, as well as increasing costs for purchasing CO? emission allowances. The ongoing instability in the Middle East is creating further uncertainty regarding the cost of energy and sea freight.

At the same time, the supply of imported products is expected to fall due to changes to the EU’s trade defence measures, which will limit the volume of duty-free steel imports.

These factors are creating opportunities for European steelmakers to raise their prices. ArcelorMittal and other regional producers have a healthy order book for hot-rolled, cold-rolled and hot-dip galvanised steel, meaning that companies see no need to offer significant discounts to attract buyers.

Following the latest adjustment, ArcelorMittal’s offer price for hot-rolled steel in Southern Europe has risen to around €790/t ($918/t) on a free-at-delivery basis, compared with the previous €770/t ($895/t).

Overall, the price adjustments reflect manufacturers’ efforts to offset rising costs against a backdrop of limited imports and stable domestic demand.

As reported by GMK Center, at the end of August ArcelorMittal raised its prices for long products (bar steel, reinforcing bars and wire rod) by a further €20/t. This is the second price increase following the €25/t rise in July, bringing the total increase in product prices to €45/t.