ArcelorMittal SA says steel sales fell 10.1% in the first quarter

ArcelorMittal SA, Africa’s biggest steel producer, says sales of the alloy fell 10.1% in the three months to end-March because of weak demand in SA and a decline in exports.

Export sales fell 23.1% compared to a “very buoyant global market” a year before “and a more cautious seaborne market in the first quarter of 2019 following the sudden price drops”. Commercial coke and tar sales fell 38.8% “due to higher imports into the country together with an increase in internal consumption”, it said.

Jobs are going, thanks to ANC government

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