.jpg?lang=en-US&ext=.jpg)
-(1).gif?width=220&height=200&mediaprotectionhash=8011a71ede637cd523c67b1296fc49e6151560fde821a46f29cc85998cc76615&ext=.gif)
ArcelorMittal to Increase Flat Carbon Steel Prices in Europe
02/06/2008 - ArcelorMittal will increase flat carbon steel prices in Europe by 12 to 15%, realigning them to recent global price increases prompted by cost increases for raw materials, energy, and logistics.
ArcelorMittal has announced that it will increase flat carbon steel prices in Europe by 12 to 15%, establishing a new base price level of 560 E/tonne for hot band. A price increase of 50 E/tonne will apply for Commercial Grade Plates.
The price increases, which follow nine months of price stability, signal ArcelorMittal’s realignment of prices for European flat products to recent global price developments, where steel has seen increases of $100 to $180 per tonne in response to the cost increases for raw materials, energy and logistics. The increases take effect April 1.
"This is consistent with what we had already announced 3 months ago,” said Patrick Depardon, Vice President of Sales and Marketing for ArcelorMittal Flat Carbon Europe. “Simultaneously, we are responding to the consistently high demand for steel in all parts of Europe. We have taken all measures such as the restart of the Blast Furnace No.6 in Seraing to satisfy the strong requirement for volumes from our customers.”
The company noted that further price increases could become necessary during the second quarter. The company also said it would announce any additional increases once the final outcome of the ongoing annual raw material price negotiations has been determined.
ArcelorMittal is the world's largest steel company, with 320,000 employees in more than 60 countries. The company leads a number of 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 key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.
ArcelorMittal’s 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% of world steel output.
