ArcelorMittal has announced it is to increase its prices for long products throughout Europe, Kallanish hears from market sources.
The decision was driven by the present unsustainability of prices and the increasing costs of raw materials globally.
Companies both upstream and downstream are at risk of financial instability due to the current low prices for long products in Europe, several market participants throughout the value chain report.
The market must regain some profitability, one source comments.
According to sources, ArcelorMittal is increasing prices of all commodity grade longs, including rebar, beams, and drawing quality wire rod, by €40/tonne ($43.90/t).
The current increase is effective immediately for all new bookings.
Natalia Capra France
