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ArcelorMittal, Europe’s largest steel manufacturer, said this week that “the unprecedented increase in electricity prices in the past few days”, coupled with the already high level in recent months, “has significantly increased our costs”.
Therefore, we immediately raised the price of construction steel for all new orders by £ 250 per ton.” The price rise highlights the pressure on European steel manufacturers due to the soaring electricity prices after the Russian Ukrainian war.
The question is, will the price increase be transmitted to China? Source: Tyco steel finishing network editor..
According to an industry expert, the increase of £ 250 per ton for all new orders is the highest one-time increase of the group.
The UK’s second-largest steelmaker, which operates a huge Scunthorpe steel plant in eastern England, will increase the existing pressure on construction companies.
Tata Group British Steel declined to comment on the sharp rise in steel prices, but said: “like all European steel manufacturers, we are facing unprecedented cost increases.
The recent surge in the wholesale price of natural gas will only increase the existing cost pressure in the industry.
On March 12, the British Steel Company under Tata group told customers that the price of all new orders for construction steel used for buildings and bridges increased by 250 pounds per ton (about 2066 yuan per ton), an increase of about 25%! The price of most steel has been raised to more than 1000 pounds per ton.
