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ArcelorMittal SA faces challenges with R1bn half-year loss and closure of its Longs business
Cape Times
|August 01, 2025
ARCELORMITTAL South Africa’s interim headline loss was virtually unchanged at R1.01 billion, non-core asset sales may be necessary and the closure of the Longs business in Vereniging next month is still on the cards.
All this bad news sent the beleaguered steel maker's share price tumbling 7.4% on the JSE late Thursday afternoon to R1.00. The price has fallen steadily from R1.36 a year ago.
“Subdued market demand, disruptive rail and electricity interruptions (with a R358m cost impact), and aggressive import penetration placed significant pressure on volumes and margins. Domestic sales volumes fell 10%, and exports by 13%, while long steel imports, predominantly from Zimbabwe, rose sharply,’ CEO Kobus Verster said.
This story is from the August 01, 2025 edition of Cape Times.
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