STEEL
Steel producer ArcelorMittal South Africa (AMSA) expects a proposed deal to reopen the heavy-section mill at Evraz Highveld Steel & Vanadium (Highveld), together with recent moves by government to stipulate the use of local steel when calculating local content on certain infrastructure components, to help shore up domestic demand in an otherwise weak steel market. New CEO Wim de Klerk confirms that the JSE-listed group is working with the Industrial Development Corporation (IDC) and Highveld’s business rescue practitioners (BRPs) on an arrangement to supply blooms and slabs for processing at the Mpumalanga mill, which was shut after the failure in January to sell Highveld as a going concern.
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