ArcelorMittal has announced an increase in prices for long products across Europe. The decision is driven by the high cost of production and the need to recover margins. The steelmaker is offering €30 per tonne above its May quotes for all commodity grade longs.
This move comes as capacities have been reduced due to lower consumption across Europe, but prices are now being strongly impacted by the high cost of energy and raw materials, such as scrap. Despite lower demand compared to previous years, the market remains acceptable, with southern European countries performing better than those in the north and west.