Steel companies in the US raise prices


Large steel companies in the United States are raising their prices after having offered substantial discounts earlier this year in order to attract customers. These are, for example, Nucor, ArcelorMittal and U.S. Pat. Steel.

Steel prices in the US have fallen by 32 percent since the beginning of this year, putting pressure on the profitability of steel producers. Furthermore, the demand for steel was depressed by weaker end markets, including in the American automotive industry.

ArcelorMittal announced on Thursday when quarterly figures were announced that steel demand in the US is expected to fall this year as buyers eliminate stocks.

By: Maurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email

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