[Ferro-Alloys.com] European steel producer ArcelorMittal is increasing its hot-dip galvanised (HDG) and cold-rolled coil (CRC) offers but leaving hot-rolled coil (CRC) unchanged.

The new offer for HDG, with immediate effect, will be €900/t base, while CRC will be offered at €870-880/t.

The shortage is more acute on downstream products, where the automotive supply chain has been attracting ample material. The company has already been achieving its previous offer level of €880/t for HDG. Lead times from the producer can be as long as 12-15 weeks for spot customers, where allocation is available.

Australian iron ore exploration spending remained close to a six-year high during October-December last year, although coal exploration remained depressed with China's import ban on Australian coal and uncertainty around medium-term demand in the face of climate change.

Australia's total mineral exploration spending increased by 2.5pc from a year earlier to A$754mn ($585mn) during October-December, driven by higher spending on iron ore, base metals and gold, the Australian Bureau of Statistics' quarterly exploration data showed today.

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