Europe: ArcelorMittal plans to lift steel prices by up to Euro 100/t ($99/t)

ArcelorMittal Europe has decided to raise steel prices by up to Euro 100/t ($99/t) on the back of soaring energy prices and high production costs, despite of decrease in number of orders. Post revision, the effective prices stand at-

Flat steel prices

• Hot-rolled coil (HRC): Euro 800-850/t ($795-845/t)
• Cold-rolled coil (CRC): Euro 900-950/t ($895-944/t)
• Hot-dipped galvanised coil (HDG): Euro 930-980/t ($925-974/t)
• Prices are based on Eastern Europe for October-November deliveries.

Long steel prices

• Rebar: Euro 750-800/t ($746-795/t)
• Coiled rebar: Euro 770-820/t ($765-815/t)
• Prices are based on Europe for September deliveries.

Considering the demand-supply mismatch and decline in order books, alongside geopolitical tensions and strong energy costs, market participants wonder whether the price hike will be absorbed in the domestic market.

Note: This article has been written in accordance with an article exchange agreement between SteelDaily and SteelMint.