Luxembourg, 3 September 2008 - ArcelorMittal believes that due to the cost increases in raw materials and steel equipment, steel pricing will continue to remain structurally strong.
Yesterday's announcement from South Africa reflects specific currency developments and local price mechanisms. However globally ArcelorMittal will generally maintain its Q3 pricing levels into Q4. The Company is currently engaged in negotiating 2009 contracts for Automotive, Packaging and Home Appliance customers and is making good progress in agreeing substantial price increases.
In the case of seasonal market weakness, ArcelorMittal would adapt production to maintain stable pricing.
About ArcelorMittal
ArcelorMittal is the world's leading steel company, with over 320,000 employees in more than 60 countries.
ArcelorMittal is the leader in all major global steel 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. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a significant responsibility to tackle the global climate change challenge: it takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2007 ArcelorMittal had revenues of USD 105.2 billion and 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), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
Yesterday's announcement from South Africa reflects specific currency developments and local price mechanisms. However globally ArcelorMittal will generally maintain its Q3 pricing levels into Q4. The Company is currently engaged in negotiating 2009 contracts for Automotive, Packaging and Home Appliance customers and is making good progress in agreeing substantial price increases.
In the case of seasonal market weakness, ArcelorMittal would adapt production to maintain stable pricing.
About ArcelorMittal
ArcelorMittal is the world's leading steel company, with over 320,000 employees in more than 60 countries.
ArcelorMittal is the leader in all major global steel 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. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a significant responsibility to tackle the global climate change challenge: it takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2007 ArcelorMittal had revenues of USD 105.2 billion and 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), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
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