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Jumat, 14 Januari 2011

Creamer Media Mittal to raise SA steel prices by 5% from Feb 1

South Africa’s largest steel producer ArcelorMittal South Africa (Mittal) has informed customers that the prices of its flat and long products will rise by an average of 5% as from February 1, 2011.The increase will be the first instituted by the JSE-listed group since August 1, 2010, with prices having remained more or less flat since that time, with the strength of the South African rand having offset some recent steel prices rises internationally.

Mittal claims to set its prices using a basket of domestic selling prices in four countries and then adjusting that price to a forecast on the rand/dollar exchange rate.

Chief marketing officer Sunil Kumar tells Engineering News Online that the price of both flat and long products will increase by between R300/t and R350/t, with the price of some products, such as rebar and wire rod, rising by about 7%.
But the price increase is “about 5% across the board”.

He says that the increase comes amid rising prices elsewhere in the world, led by a strong recovery in US steel prices since late November.
“At this stage, we are looking at a quarter-on-quarter price increase of close to $200/t in the US market, which is around a 20% increase,” Kumar revealed, adding that similar trends are filtering through to Europe and Asia.

“We are also seeing raw material prices shooting up, particularly scrap and iron-ore, as well as coking coal, because of the floods in Australia. There are also reports of likely shortages of coking coal, which could push steel prices up further,” he adds.

The company is anticipating that first-quarter sales may be as much as 10% better than its initial forecast of 850 000 t. The group is, therefore, seeking to materially ramp up production across its sites.
Posted by Saham Pilihan at 06.01

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