ArcelorMittal Commercial Sections SA, after reviewing October scrap prices in the European market, has announced its scrap surcharge on all beams and sections for October deliveries, according to a statement released by the company.
Thus, the scrap surcharge effective for deliveries as of November 1, 2009, is €75/mt ($111/mt), while the company's October scrap surcharge was €110/mt ($163/mt). Also, the producer has indicated that the new surcharge has taken into account a 10 percent yield loss of scrap in the steel production process. It is noteworthy that the November scrap surcharge marks a return to a similar level to the one applied during the month of August this year (€76/mt).
€1 = US$1.47826