Arcelor likely to hike prices in January

Arcelor likely to hike prices in January

Guy Dolle, CEO of world's largest steel producer Arcelor has recently announced that the company may increases its prices in January due to rising raw material costs. Arcelor has increased its prices four times this year. If prices are hiked in January, it will be the fifth increase effected in five consecutive quarters. It is stated that due to rising iron ore and coking coal prices, the price of flat carbon steel may be increased by 7%. As previously reported by SteelOrbis, Arcelor reported record earnings in the second quarter of this year due to the prices.