Market sources reported that the company has introduced price increases for steel beams, rebar and wire rod. The increases will apply to all new price agreements.
The move follows the introduction of energy surcharges on its European long steel products in October
in a bid to mitigate soaring gas and electricity costs, which have since continued to rise.
Electricity prices have recently risen to €160-200 per megawatt-hour (MWh) from the normal rate of €55 per MWh. They had reached €250-400 per MWh at the time of the announced increases.
The forward prices range from €300-400 per MWh for the month ahead, while natural gas prices are currently €125 per MWh and are projected to remain at these high levels throughout the first quarter of 2022 - up from €20 per MWh.
As well as gas and electricity...