The world's largest steel producer ArcelorMittal has announced that due to strong demand and ongoing pressure from rising raw material and billet prices, the company has decided to further increase its rebar and wire rod prices by $30/mt.
This price rise will affect all new orders for the products in question as of January 1, 2008 out of the Black Sea for Turkey, Mediterranean, Middle East and North Africa (MENA) destinations.
ArcelorMittal Kriviy Rih CEO Narendra Chaudhary has stated, "The strong demand is untypical for this time of the year but clearly indicates that we are looking to a very healthy year 2008. We believe that trade flows are on the way to change and Ukraine will benefit from this."