- ArcelorMittal's (MT -3.8%) South African unit says it is planning to shut two mills and review operations at its largest plant in the country, as the money-losing unit struggles with weak demand and lower prices.
- MT says it has started discussions with unions about the closure of two mills, cutting as many as 400 jobs, at its plant in Vereeniging, and that operations at its largest plant, at Vanderbijlpark, remain unprofitable and will be reviewed before the end of October.
- South Africa's government last week raised the import tariff on steel to 10%, the maximum level allowed by the WTO.