ArcelorMittal Europe likely to increase plates prices for Oct, Nov sales

ArcelorMittal Europe is planning to raise plate prices by Euro 50/t ($50/t) to Euro 800/t ($803/t) in Oct’22 and by Euro 100/t ($100/t) to Euro 850/t ($853/t) in Nov’22 due to soaring production costs. However, market participants opine that the price hike is unlikely to get absorbed in the market owing to subdued domestic demand.