Global steel giant ArcelorMittal has announced a €25/t ($25.6/t) price hike for long products across all European regions. This increase applies to a range of products, including rebar, welded mesh, sectional products, and both low-carbon and high-carbon wire. The new pricing is effective immediately for all new orders, as reported by Kallanish.
The primary reason behind this price adjustment is a sharp rise in energy costs, which has made current prices for long products unsustainable. In particular, electricity prices in Germany have surged by 41% compared to October 2024, while gas prices across Europe have seen a 22% rise. Gas prices, according to the TTF index, jumped from €40/MWh in October 2024 to €48.2/MWh in January 2025.
Despite the ongoing market weakness, other European steelmakers have supported the price increase. Rebar, sectional products, and wire prices are climbing in various EU markets, although overall market activity remains subdued. Transaction volumes have been limited, especially with the slowdown of the construction sector in France and Germany.
However, some positive signs have emerged, particularly from northern Europe, where demand for certain long products, such as sections, has shown unexpected improvement. There has also been a rise in rebar inquiries, signaling potential activity within the construction industry.
This is the second price hike for long products from ArcelorMittal in recent months. The last increase occurred in early October 2024, when prices were raised by €40/t due to global market volatility and rising raw material costs.
Steel industry watchers will continue to monitor whether these price adjustments can help stabilize the market or if further challenges will arise in the coming months.
