The world's largest steelmaker ArcelorMittal has announced the adjustment of its prices for flat carbon products in Europe for new bookings with delivery scheduled for September 2008.
According to the new adjustment, the company's new base price level for HRC will be €770/mt, while cold rolled and coated flat product prices will be adjusted accordingly.
Commenting on the adjustment, Olli-Matti Saksi, VP Sales and Marketing of ArcelorMittal Flat Carbon Europe, said, "This further adjustment is a direct result of a robust demand throughout most of Europe as well as on the global market. We expect that the tight global supply situation and ongoing cost increases will result in continued upward pressure on steel prices in forthcoming quarters."
ArcelorMittal is aiming to finalize prices for contracts to be delivered in October by mid-July.