British Steel, one of the UK's leading producers, has increased its section prices by £100 ($121) per ton. The firm had previously increased its structural profile price by £250 per tonne.
The Bloomberg News Agency stated that heavy industries in Europe are suffering from the repercussions of high energy prices, which mainly affect energy-intensive industries such as metallurgical industries.
Europe's heavy industry is being crushed by rising energy costs. Regional benchmark electricity prices rose to an all-time high on Tuesday. Countries in Europe are planning possible power outages this winter after Russia cut off gas exports after its invasion of Ukraine.
Some metal companies in Europe had to reduce their production. Nirstar Zinc announced that it has suspended the operation of one of Europe's largest zinc smelters due to high energy prices.
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