In the current year, the mill's spending on raw material and energy has increased considerably, with the mill registering a cost increase of 25-40 percent for some components in steel production, ArcelorMittal Temirtau head Satish Taparia clarified. As a result, the mill has no choice but to increase the prices for its finished products in 2008, he added.
ArcelorMittal Temirtau to raise prices in 2008
ArcelorMittal Temirtau, Kazakhstan-based subsidiary of the world's largest steel producer ArcelorMittal, has announced the possibility of a price increase for its products in 2008, due to the expected increase in the primary costs of production thanks to the rising costs of raw material and energy resources.