- ArcelorMittal (MT +3.9%) says it expects South Africa to adopt tariffs as a safeguard against cheap imports before the end of March.
- MT's South African unit is among the country’s steelmakers who have said they are struggling to compete with an increase in subsidized Chinese supplies at prices as much as 25% below local production costs; the steelmakers are applying for import tariffs and duties against dumping while asking the government to source its requirements only from local producers.
- The unit, South Africa's largest steelmaker, says its FY 2015 loss exceeded its 2014 loss by 23x.