ArcelorMittal announces price increases for long products across Europe

Despite the reduced production capacity amid lower steel consumption in Europe, prices are heavily influenced by the high cost of energy and raw materials, such as scrap, which remains expensive. At the same time, demand for products is not as high as in recent years, but still acceptable,” the source said.

This step is due to high production costs and the need to restore margins

Global steelmaker ArcelorMittal announces an increase in prices for long products across Europe. The move is driven by high production costs and the need to restore margins, Kallanish reports, citing market sources.

The price increase is expected to be €30/t compared to May contracts for all types of long products.

In Europe, rebar prices fluctuated in different directions in May. In particular, in Northern Europe, quotations for the period May 3-24 fell by €10/t, or 1.5%, to €610-640/t Ex-Works. In Italy, prices increased by 3.5%, or €20/t, to €580-590/t.