AMSA expects HRC steel safeguards from July 1

JSE-listed steel producer ArcelorMittal South Africa (AMSA) expects imposition of safeguard duties on hot rolled coil (HRC) to come into effect on July 1, but says certain stakeholder processes still have to be completed before the decision is confirmed. Trade and Industry Minister Dr Rob Davies revealed earlier that he had signed off on an International Trade Administration Commission of South Africa (Itac) determination that safeguard duties should be imposed. This followed an investigation, which confirmed a surge in imports and that the imports harmed the local steel industry.