ArcelorMittal Commercial Sections SA, after reviewing September 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 October 1, 2009, is €110/mt ($160/mt). The company's September scrap surcharge was €103/mt ($150/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.
€1 = US$1.45722