ArcelorMittal takes price hike for flat steel prices for October, November 2022 deliveries
News: As per media sources, ArcelorMittal is implementing a price increase for flat steel prices for October and November 2022 deliveries. The producer is targeting €800/tonne for remaining October deliveries of hot-rolled coils (HRC) and €850/tonne for November deliveries. Into Italy, the producer is offering €800-850/tonne delivered.
View: The recent increase is to the tune of €50-100/tonne from previous offer levels at €750/tonne. The increases are primarily due to higher production costs. This is the first increase the steelmaker has announced since March 2022. The uptick in global steel prices, in general, augurs well for domestic steel players as it is likely to have a positive rub-off on their realisations, going forward.
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