ArcelorMittal, one of the world’s largest steel producers, is raising prices for long products (bar steel, reinforcing bars and wire rod) by a further €20/t. This is the second increase following a €25/t rise in July, which has brought the total price increase to €45/t. This was reported by Kallanish, citing market sources.

The main factor behind the price revisions was the sharp rise in energy costs. Instability caused by the conflict in the Middle East has triggered a surge in gas and electricity prices, which is having a critical impact on manufacturers using electric arc furnaces (EAFs). According to market participants, electricity costs have reached a critical level. Steelmakers are left with two options: to pass on the increase to the final cost of their products or to significantly cut production in Europe over the coming months.

The situation on the European long products market remains extremely subdued due to the holiday season and the abnormal heatwave, which have virtually brought business activity to a standstill. Scrap prices remained relatively stable in August, whilst energy prices continue to rise.

Experts note that the previous price rise in July proved insufficient to cover production costs. Consequently, other European producers of long products are also expected to raise their prices in the coming weeks, in the hope of a revival in sales in September. Trade in rebar and wire rod in both northern and southern Europe remains sluggish at present due to general market uncertainty.

As reported by GMK Center, ArcelorMittal reduced its steel output by 5.5% year-on-year in the first half of 2026, to 27.6 million tonnes. Deliveries of steel products in January–June this year totalled 26.2 million tonnes (-4.3% year-on-year).

Courtesy : https://gmk.center/