Mittal SA adjusts domestic prices for flats

Mittal Steel South Africa (SA) announced today, December 22, that it will reduce its HRC and CRC prices in South Africa's domestic market by four percent each with effect from February 1, 2007. The company said that this decrease is in line with the international steel prices in countries against which Mittal Steel SA levels its prices. In the case of plate products, Mittal Steel SA announced a seven percent increase in its domestic prices. The company justified this move by citing the current high demand for plate products and the supply shortages in both the domestic and international markets. Moreover, the producer also announced that it will increase its domestic prices for HDG by nine percent and for color galvanized products by five percent with effect from February 1, 2007, due to the high zinc prices worldwide.