ArcelorMittal to drop steel prices while fighting Kumba

By Andy Rice 28 July 2010

ArcelorMittal will drop the R600 per ton surcharge it added to local steel prices in March, amid its dispute with Kumba, and instead add around two-thirds of that extra cost into its regular pricing. Which equates to a reduction in steel prices right now, but if Arcelor wins its argument about higher ore prices with Kumba (as it continues to insist is inevitable), it will more easily be able to hang on to at least a portion of that now-included surcharge. Mining MX

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