ArcelorMittal announces price increases

The largest steel company in the world, ArcelorMittal, in the fourth quarter of 2014 announced its intention to increase prices for flat products. According to preliminary data, for European consumers it will grow by 20 euros more than the previous one, per tonne.

Recall that this enterprise, which owns a large number of not only metallurgical plants, but also mining facilities, controls more than 10 percent of the steel produced in the world.

According to the new policy of the Luxembourg-based company, all prices will henceforth be valid for orders for deliveries related to the fourth quarter of the current year.

According to some specialized trade publications, quotations are growing due to an increase in orders from metal plants. In addition, as you know, the supply of imported products, especially in recent years, has noticeably decreased.

The British consulting firm MEPS (Mechanical, Electrical and Plumbing engineering consulting) has previously reported consistently about the growth of orders from European steel plants, but as for flat products, prices for them are low.

Commenting on the situation, the MEPS agency also announced attempts by metallurgists to raise the price, but it is unlikely that a significant increase will be achieved. At the same time, a small increase will only slightly cover costly funds.

"Until the end of this year, the situation does not promise to turn for the better, and it will only be possible to achieve a moderate increase, so sometimes it is necessary to take such radical actions," the MEPS agency said in a press release.