ArcelorMittal SAfrica to raise prices in August

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Jun 2009

ArcelorMittal's South African unit said on Monday it would raise prices by between 3-4 percent in August, following global trends. The company said prices would rise by 3-4 percent for its flat products and 4 percent for its long steel products. "The price increases reflect a continuation of the positive price momentum we are witnessing in the baskets of overseas prices that we track for our products," the company said in a statement. The firm said it plans to raise prices for the first time this year in July, after cutting them by more than 60 percent since September last year due to the global economic downturn.

Source: Reuters