South African steel companies continue to slump
According to the South African New Times website reported on July 30,South African iron and steel companies ArcelorMittal recently released the first half of 2017 report shows that the company will continue to lose losses in the future is expected to grow in the second half to 1.1 billion rand.ArcelorMittal said the loss in the first half was mainly due to the negative impact of the economic downturn in South Africa,The impact of local steel consumption fell by 3.8%, while South Africa and major African markets still import large quantities of foreign steel.
