Steel producer ArcelorMittal South Africa (AMSA) slumped to a R3.3-billion headline loss in 2019, which the JSE-listed group described as an exceptionally difficult one for the South African economy and also the most challenging for the world steel industry since the global financial crisis of 2008. Average international steel prices fell by 15%, while the AMSA’s overall realised steel price in dollars fell by 9%. In rand terms, realised steel prices remained stable as the average dollar/rand exchange rates weakened 9% year-on-year.
