Steelmaking giant ArcelorMittal said Thursday it would build a new plant in the United States to produce steel used in electric vehicles, as it posted a surge in annual net profit. The $900-million ...
ArcelorMittal SA CEO Kobus Verster, pointedly criticised the SA Government’s slow and insufficient response to the present steel industry survival crisis in South Africa.
Thursday forecast improving steel demand for 2025 and said its annual investment budget would be similar to last year's, after its fourth quarter earnings exceeded market expectations.
ArcelorMittal South Africa postponed its long-steel plant closure for a month to engage in government discussions aimed at saving the business. The company cites increased orders and negotiations on ...