ArcelorMittal has unveiled a new range of steels for the automotive industry.
The company’s new Fortiform range of Advanced High Strength Steels offers higher weight savings as compared to the company’s current range of AHSS. The latest offering in automotive steel from ArcelorMittal is part of the company’s strategic focus on the automotive sector.
The new steel, HF1050, is a third-generation advanced high strength steel for cold stamping, for use in the automotive market. Using HF1050 will result in additional weight reductions in a vehicle’s structural components of up to 10%.
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($136.76) and a low price of CNY 830.00 ($135.13) per dry metric ton. The price of Chinese HRC saw little movement at CNY 3,380 ($550.28) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,390 ($226.30) per metric ton.
The cash price of steel billet saw little price change on Thursday on the LME at $450.00 per metric ton. The 3-month price of steel billet remained essentially flat on the LME at $455.00 per metric ton.
For the fifth consecutive day, the 3-month price of the US HRC futures contract held flat at $645.00 per short ton. The US HRC futures contract spot price saw little movement yesterday at $660.00 per short ton.