ArcelorMittal Raises Base Prices for Flat Carbon Products in Europe.LUXEMBOURG -- Regulatory News: ArcelorMittal today announces a further price increase for its flat carbon products in Europe of 40 [euro]/t. This takes the minimum base price to EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 600/t for hot rolled coil and to EUR680/t for cold rolled/coated products. Quarto quar·to n. pl. quar·tos 1. The page size obtained by folding a whole sheet into four leaves. 2. A book composed of pages of this size. plate will increase by a minimum of 40[euro]/t for commercial grades. This comes in addition to the earlier announcement of a 50[euro]/t increase. The new price level will be effective for all new contracts for the 2nd quarter and is implemented with immediate effect. Today's announcement follows the final settlement for the 2008 iron ore contracts. ArcelorMittal indicated in a recent release announcing price increases of some 12 - 15% that further increases might be required as a result of the final outcome of the ongoing negotiations. Christophe Cornier, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ArcelorMittal Flat Carbon Europe, commented: "Raw materials have reached an unprecedented cost level for our industry. It is now important to secure sufficient supply and to overcome all logistic hurdles, to make sure our customers obtain the volumes they require." About ArcelorMittal ArcelorMittal is the world's largest and most global steel company, with 310,000 employees in more than 60 countries. The company brings together the world's number one and number two steel companies, Arcelor and Mittal Steel. ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 28 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets. ArcelorMittal key pro forma financials for 2007 show revenues of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10 per cent of world steel output. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP (1) (Message Transfer Part) See SS7. (2) (Media Transfer Protocol) A Microsoft enhancement to the picture transfer protocol (PTP), starting with Windows Media Player 10 in Windows XP. ), Brussels (MTBL MTBL Mean Time Between Data Loss ), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS (1) See Microsoft Transaction Server. (2) (Modular TV System) The stereo channel added to the NTSC standard, which includes the SAP audio channel for special use. 1. MTS - Message Transport System. 2. ). |
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