After having kept steel prices stable for 9 months, flat carbon steel prices will increase by 12- 15 percent, establishing a new base price level of 560 E/t for hot band. For Commercial Grade Plates a price increase of 50 E/t will apply.
Further price increases might be necessary in the course of the 2nd Quarter and will be announced as soon as the final outcome of the ongoing annual raw material price negotiations is known.
With this move ArcelorMittal realigns the price level of its European flat products to recent global price developments, where steel has seen increases of 100- 180 $/t in response to the cost increases for raw materials, energy and logistics.
Patrick Depardon, VP Sales and Marketing of ArcelorMittal Flat Carbon Europe: "This is consistent with what we had already announced 3 months ago. Simultaneously, we are responding to the consistently high demand for steel in all parts of
About ArcelorMittal
ArcelorMittal is the world's number one steel company, with 320,000 employees in more than 60 countries. The company brings together the world's number one and number two steel companies, Arcelor and Mittal Steel.
ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.
ArcelorMittal key pro forma financials for 2006 show combined revenues of USD 88.6 billion, with a crude steel production of 118 million tonnes, representing around 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of
