Woes aplenty for ArcelorMittal
Local steel producer reports interim loss after not catching the tailwinds of international destocking
27 July 2023 - 08:30
UPDATED 27 July 2023 - 22:40
The woes of SA’s primary steel producer, ArcelorMittal SA (Amsa), deepened on Thursday as it posted an interim loss of R448m in the six months to end-June, a reversal of the R3.1bn profit it reported in the previous matching period.
The company’s performance was affected by weak demand, higher input costs, lower international prices, disruptions to Transnet’s rail network and persistent load-shedding...
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