ArcelorMittal SA said that it would leave prices for most of its products unchanged in February 2009 after up to 40% cuts since September.
ArcelorMittal SA in a statement said that “Only prices for two galvanized products will be cut as at the start of next month.”
February would be the first month since September when the company will not reduce prices on most of its products.
Mr Sven Lunsche a spokesman said that ArcelorMittal was reviewing prices every month, based on a basket of prices from Russia, China, Germany and the United States and the rand dollar exchange rate.
He said that "We are holding January"s prices for February, with the exception of two flat product ranges.”