The world's largest steel producer ArcelorMittal has announced that it will keep its flats prices for the European market at the previous levels for the third quarter of 2007.
The company has expressed its confidence in the demand for flats in Europe in the second half of the year, stating its belief "that this year will continue as strong as it has started".
In addition, ArcelorMittal has announced that its output for the European market will be lowered by 3-4 percent in Q3 compared to Q2 due to the necessary maintenance works at its mills. Although this might contribute to the reduction of inventory levels in the European flats market, ArcelorMittal stated that it will not raise the prices for its products in order to maintain a suitable market environment for its customers.