ArcelorMittal Raises European Steel Prices as Energy Costs Surge
A worker monitors the blast furnace at a steel plant in Galati, Romania.
Photographer: Ioana Epure/BloombergThis article is for subscribers only.
ArcelorMittal SA is raising its European steel prices as it tries to pass higher energy costs onto customers.
Hot rolled coil prices delivered in November will be hiked by 13% to 850 euros a ton, according to a person familiar with the matter. The move, which was first reported by Argus Media, is to offset increased production costs partly driven by Europe’s ongoing energy crisis.