Steelmaker ArcelorMittal, citing strong demand, said on Friday it was raising its prices for flat carbon steel in Europe by 50 euros to 770 euros (1,212 dollars) a tonne.

"This further adjustment is a direct result of a robust demand throughout most of Europe as well on the global market," said Olli-Matti Saksi, an Arcelor vice president for Europe, in a statement.

"We expect that the tight global supply situation and ongoing cost increases will result in continued upward pressure on steel prices in forthcoming quarters."

Friday's announcement affects new orders with delivery scheduled for September.

The company said it wanted to set prices for October by mid-July. – AFP