It is reported that steel giant ArcelorMittal will hike the steel sheet prices by EUR 20 per tonne to EUR 30 per tonne in Spanish and Portuguese markets and the new prices will become effective from February 2012.

After the adjustment, the company's ex factory prices of hot rolled coil have surged to EUR 500 per tonne.

However, the price hike seems unfavorable to distributors and users as the economy in euro zone has remained weak.

(Sourced from www.yieh.com)