ArcelorMittal, the world's largest steelmaker, said on Thursday it was raising the prices for its flat carbon products in Europe by a further 40 euros ($58.87) per tonne.

This would be in addition to an announcement earlier this month that such prices would rise by 12-15 per cent as of April.

"This takes the minimum base price to 600 euros per tonne for hot rolled coil and to 680 euros per tonne for cold rolled/coated products," Arcelor said in a statement, adding that the new price levels would be effective for all new contracts for the second quarter. – The Economic Times