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ArcelorMittal hikes strip prices in Europe
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Reportedly, the world’s steel giant ArcelorMittal announced to raise the prices of strip products by €10~€20/ton in Europe and the new prices have become effective immediately.
The Euro has continued depreciating against the US dollar recently, causing the firm’s dollar-denominated raw materials prices rise, according to the statement of ArcelorMittal.
Meanwhile, ArcelorMittal indicated that the firm has reduced its production in the Q3 in order to balance the supply and consumption due to the sluggish demand.
The steel giant plans to start the maintenance in Dunkirk and Asturias during the summer, which will reduce its output by around 700,000 tons.
News Date
6/8/2012 9:56:07 AM
reported by
Ellen Huang
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