Arcelor contemplates a price increase

Arcelor contemplates a price increase

Recent news in the market report that world's biggest steel producer Arcelor is planning to hike its prices in the second quarter of 2004 due to increase in raw material and transport costs. It is stated that the price hike will be effected on carbon flat products, the price of which has been already increased by 5-7% in the first quarter. The Chairman Executive Officer of Arcelor Guy Dolle speculates that a shortage in the international market may occur in the first quarter of 2004, depending on the increase in prices by US mills.