Mittal Steel SA reduces domestic flat steel prices

Mittal Steel SA reduces domestic flat steel prices

Mittal Steel South Africa announced that it would reduce its domestic flat steel product prices by an average 6.6% effective as of August 1, 2005. A company official said that through this reduction, prices will be in line with the prices in international market. Mittal Steel also stated that prices of long products will not be changed. Sources report that the downward trend in international flat steel prices due to the slow demand for the said goods prompted the company to reduce its flat prices.