ArcelorMittal is announcing a price increase for its flat carbon products in Europe, for new bookings with delivery scheduled for July and August 2008.
New Delhi, 14 May 2008 - ArcelorMittal is announcing a price increase for its flat carbon products in Europe, for new bookings with delivery scheduled for July and August 2008. The new base price level for hot band will be 720 €/t. Cold rolled and coated flat product prices will increase accordingly.
This further price increase is a direct consequence of the significant rise in raw material prices since the beginning of this year (including coking coal) and has been further exacerbated by the sharp rise of scrap prices in recent months.
Commenting, Patrick Depardon, VP Sales and Marketing of ArcelorMittal Flat Carbon Europe said: "These price increases have been made necessary on account of the unprecedented escalation in input costs that we have seen this year. We are taking all available steps to ensure undisrupted supply to our customers."
About ArcelorMittal
ArcelorMittal is the world's largest and most global steel company, with 310,000 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 28 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 financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris ( MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
Contact for further information:
Anjali Kumar, GM – Communications on +91 9871175525, Email: anjali.kumar@arcelormittal.com
Mandakini Sud – Ogilvy Public Relations Worldwide on +91 9971299773, Email: mandakini.sud@ogilvy.com
Sevashree Mohapatra - Ogilvy Public Relations Worldwide on +91 9810876151, Email: sevashree.mohapatra@ogilvy.com
Ogilvy Public Relations Worldwide