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ArcelorMittal South Africa loss deepens

ArcelorMittal South Africa reported a deeper first-half loss on Thursday but forecast growth in steel demand in Africa in the second half. Headline losses grew to 1.619 billion rand ($125.5 million)for the six months to June 30 from a loss of 458 million a year earlier.

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SA needs more local brands to boost steel sector

According to Mineweb Arcelor Mittal explains terms of agreement with government to save steel sector. 
Governments’ negotiations with Arcelor Mittal South Africa (Amsa) on how to rescue the steel industry stem from the common consensus that steel-making capability in South Africa is necessary to give the country a competitive edge in terms of manufacturing and driving economic growth. This was a theme at a an event about the company’s 2016 factor report on Wednesday, where Amsa chairman Mpho Makwana says that more products needed to be made in South Africa for the industry to have a fighting chance.

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Higher steel tariffs unlikely says Radebe

Minister in the Presidency Jeff Radebe has said that it is unlikely that government will raise tariffs on cheap steel imports, despite calls from industry to protect local manufacturers. Factors influencing their decision includes political alliances and South Africa’s standing amongst BRICS (Brazil, Russia, India, China and South Africa) members as well as overarching trade considerations.

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