AMSA announces steel price increases from December 1

Steel producer ArcelorMittal South Africa (AMSA) announced on Tuesday that it would be increasing prices on flat- and long-steel products from December 1 – a move it attributed to market movements, rising input costs and the need to staunch losses at its Vanderbijlpark Works. The group outlined the following increases for flat-steel products: a 10.2% increase on hot-rolled coil (HRC), 7% on plate, 9.8% for cold-rolled coil (CRC), 9.3% on galvanized steel and 4.3% for colour-coated steel.