In a country that is already battling high unemployment rates, it is hard to imagine the social impact of the looming job losses at ArcelorMittal SA.

However, given the rising input costs — electricity, rail and ports — and global steel oversupply, it would seem that job losses are inevitable. But that does not take away the fact that they will be devastating.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now