ArcelorMittal South Africa Ltd (ACL.JO) dropped its steel prices by an average $25 a metric ton on all shipments from Aug 1 primarily due to the removal of an iron ore surcharge, a company spokesman said Tuesday.

ArcelorMittal South Africa Ltd, majority owned by parent company ArcelorMittal (MT), scrapped the surcharge after it agreed a stop gap deal with its primary iron ore supplier Kumba Iron Ore Ltd (KIO.JO) regarding iron ore shipments from Kumba's main Sishen mine.

Steel prices at South Africa's largest steelmaker have fallen by 3.6% on average in August compared with July, the spokesman said.

Long steel products fell by an average 3.9% while flat steel products fell by an average 3.3% in August compared with July.

Company Website: www.iscor.co.za

-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328; alex.macdonald@dowjones.com
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