ArcelorMittal Raises Middle East Steel Prices

Company said in November that it would raise prices in U.S., Canada, Europe and Mexico.

ArcelorMittal said on Dec. 10 that it would raise the price of its long steel products in the Middle East region by $30 (20.5 euros) per ton from January 1.

The group, the biggest steel producer in the world, said the price rise would be applied in the region around the Black Sea and the Mediterranean Sea, the Middle East and Turkey.

The company had already said in November that it was raising its prices in the U.S., Canada and Mexico and in Europe, saying this was necessary because of a rise in the cost of raw materials and because of unusually strong demand.

Copyright Agence France-Presse, 2007

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