October 2: ArcelorMittal South Africa, a unit of the world’s leading steel maker, cut the prices of its tinplate by 26 and 30 percent this week, because of local currency movements, it says.
“The adjustment is in line with an agreement with key customers in the packaging industry to adjust prices half-way through the annual 2009/10 contract period,” ArcelorMittal South Africa said in a statement. The contract period runs until the end of March next year.
“The reduction in prices reflects the strong performance of the rand over the past six months, whereas international tinplate prices have been largely steady,” it said.
