ArcelorMittal SA, the South African unit of steel giant ArcelorMittal, will cut prices for its steel products by seven to 13 percent for May.
The company said that it would cut prices for general flat steel by nine to 13 percent, and for long products by seven to 10 percent.
ArcelorMittal spokesperson Sven Lunsche said, "The main reason for May's decrease is the rand's strength - we are seeing some flattening out in overseas prices - but this has been somewhat offset by the rand's strong run."
Since September 2008, ArcelorMittal SA's steel prices have come down by 55-60 percent.