| From Engineeringnews.co.za: South Africa's largest steel producer ArcelorMittal South Africa has notified its customers that there will be another, even larger, price cut on both long and flat steel as from November 1, having last month confirmed an average 5% cut from October 1 - the October price reduction was the first for 2008.
In a note to its customers, the group said that the base price for both long and flat products would decline by an average of R1 000/t for orders confirmed for delivery from November 1. This would effectively translate into a decline of about 10% across the various grades of steel the group supplied..... Full Article: Source
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