ArcelorMittal raises US HRC prices by $40/st
Integrated steelmaker ArcelorMittal announced a $40/st price increase today for US flat-rolled products, the first price increase since July.
The US operations of the global steelmaker raised prices as the Argus weekly domestic US hot-rolled coil (HRC) index fell to $488/st ex-works on 22 October, a 3.5-year low.
Prices for flat-rolled products in the US have declined by 18.5pc since August and by 34pc since the beginning of the year.
US HRC market participants this week said they expected a price increase soon, with mills attempting to set a price floor. But some have questioned whether demand will be able to sustain any price increases as end-market demand continues to be mixed.
source: Argus Media
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