Share

ArcelorMittal SA reports half-year loss as steel demand falls

Steel producer ArcelorMittal South Africa has reported an interim headline loss of R2.6 million due to the decrease in demand for steel and a complete shutdown of operations during lock-down, and some parts of its business will continue to remain closed until demand picks up. The company announced last month that large scale retrenchments will be taking place as a result of cost cutting strategies. ArcelorMittal South Africa CEO, Kobus Verster joins CNBC Africa for more.

Thu, 30 Jul 2020 11:34:33 GMT
Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.