STEEL
With ratings agency Moody’s Investors Service cutting State power utility Eskom’s credit to two notches below investment grade on Wednesday, ArcelorMittal South Africa (AMSA) CEO Wim de Klerk expressed his concern about the downgrade’s impact on the local steel industry. Addressing delegates at a steel industry workshop focused on the 12% safeguard tariff on hot-rolled coil, starting in July, De Klerk highlighted that the economy was in trouble.
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