Due to the weakening currency causing rising import costs, South Africa is going to have its fourth price increase since May and its price rise will be about 20 to 22 percent.

The largest steel company in South Africa, Mittal, said on April 6 that the steel price will increase by about US $151.9/ton in May in the South Africa market, and the new price level for galvanized steel products will be higher than this amount.

Actually, the steel price in South Africa had already increased three times since the beginning of this year and the total cumulative price level increase is about 60 percent.

People said that rising steel prices are a global tendency; therefore, South Africa has to adjust its domestic market price. Otherwise, there will be a huge price gap between the international steel market and that of the South African market.