ArcelorMittal SA (ACLJ.J), a unit of the world's No. 1 steel maker, will keep prices for all of its products unchanged in March, after cuts of up to 40 percent between October and January, the company said on Monday.

Spokesman Sven Lunsche said 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 it was too early to say if this meant the end to a fall in prices.

There'll be no change in pricing for March for all the products ... but we will have another look at the situation at the end of the month, he said.

February was the first month since October when the company did not cut prices on most of its products. Steel prices have collapsed due to the global financial crisis which has slashed demand for steel and delayed construction projects.

Steelmakers have been cutting production, delaying shipments and reviewing expansion and investment plans. Shares in ArcelorMittal were flat at 73.90 rand by 1030 GMT, roughly in line with the JSE blue-chip index .JTOPI. (Reporting by Agnieszka Flak; editing by Sue Thomas)

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