ArcelorMittal to hike flat steel prices in 2008

Brussels, Nov 19: ArcelorMittal, the world's largest steelmaker, said on Monday it would increase prices for flat steel products in NAFTA and European markets to reflect material and energy cost increases in 2008.

U.S. prices were below prevailing global market levels, ArcelorMittal said in a statement, adding low inventories, falling steel imports and relatively robust demand for high quality steels should underpin a realignment.

In the European Union, ArcelorMittal would maintain 2007 prices during the first quarter of 2008 and apply price increases from the second quarter, reflecting raw material cost increases.

Reuters
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