Embattled steelmaker ArcelorMittal SA said on Thursday cost-cutting and a surge in steel prices in late 2020 helped it swing into an operational profit in its year to end-December.

After a tough first half, the group said it had an impressive second half, generating R37m in earnings before interest, taxation, depreciation and amortisation (ebitda) to end-December, from a loss of R632m previously...

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