ArcelorMittal lowers price

Johannesburg - ArcelorMittal South Africa, the South African arm of the world's largest steel producer, on Friday announced that flat plate prices would fall by 5%.

In a statement on the November price adjustments, the company said rebar and wire rod prices would fall by around 3.5%.

Other long steel and flat steel product prices remain unchanged.

The price adjustments are the result of its monthly benchmarking exercise based on international price trends and the rand/US$ exchange rate.

At 14:29 shares in ArcelorMittal were trading 1.10% or 1.19 rand lower at 106.91 rand on the JSE.

- I-Net Bridge