ArcelorMittal to raise SA steel prices by 6%

It has been reported that ArcelorMittal South Africa Ltd plans to raise their steel prices by as much as 6% more next month for SA steel as global demand and world steel prices are increasing.

Mr. Tami Didiza a spokesman for ArcelorMittal SA said that prices for both long and flat steel products will climb by ZAR 450 (USD 58.38) a ton or 4% to 6%. He added that the increase is valid for all steel deliveries confirmed from July 1st 2008.

Mr Didiza said that "Steel prices internationally are still firming up. With this increase, we are at least on a par with the Black Sea market and below Europe and the US.''