ArcelorMittal is announcing a price increase for its flat carbon products in Europe, for new bookings with delivery scheduled for July and August 2008. The new base price level for hot band will be 720 €/t. Cold rolled and coated flat product prices will increase accordingly.

This further price increase is a direct consequence of the significant rise in raw material prices since the beginning of this year (including coking coal) and has been further exacerbated by the sharp rise of scrap prices in recent months.

Commenting, Patrick Depardon, VP Sales and Marketing of ArcelorMittal Flat Carbon Europe said: "These price increases have been made necessary on account of the unprecedented escalation in input costs that we have seen this year. We are taking all available steps to ensure undisrupted supply to our

customers."

Sourced From: ArcelorMittal