ArcelorMittal announces adjustment to flat carbon steel prices for the European market

Friday, Jun 27, 2008

Luxembourg, 27 June 2008 – ArcelorMittal announces it has adjusted its prices for flat carbon products in Europe for new bookings with delivery scheduled for September 2008.

The new base price level for Hot Rolled Coil will be 770 €/t. Cold rolled and coated flat product prices will be adjusted in price accordingly.

Commenting, Olli-Matti Saksi, VP Sales and Marketing of ArcelorMittal Flat Carbon Europe said: "This further adjustment is a direct result of a robust demand throughout most of Europe as well as on the global market. We expect that the tight global supply situation and ongoing cost increases will result in continued upward pressure on steel prices in forthcoming quarters.”

ArcelorMittal is aiming to finalise prices for contracts to be delivered in October by mid-July.

About ArcelorMittal

ArcelorMittal is the world's largest integrated metals and mining company, with over 310,000 employees in more than 60 countries.

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 over 20 countries across 4 continents exposes the company to all the key steel markets, from emerging to mature.

ArcelorMittal key financials for 2007 show revenues of USD 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), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal visit: www.arcelormittal.com

Source: ArcelorMittal