ArcelorMittal SA chief executive Nonkululeko Nyembezi-Heita. (Picture: Muntu Vilakazi) (Muntu Vilakazi)
Johannesburg - Shares of ArcelorMittal SA [JSE:ACL] extended
losses, falling nearly 3%, after the steel producer said it would declare force
majeure following the shut down of its Vanderbijlpark plant due to a fire.
The unit of global steelmaker ArcelorMittal said the fire at
the plant on Saturday caused extensive damage, adding further strain to the
The company last week said its full-year loss widened as
domestic steel sales fell and commercial coke sales declined.
The shares were down 2.6% at R32.26 after dropping 6.76% to
close at R33.12 on Monday.
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