ArcelorMittal SA seeks import tariffs on all products

Johannesburg - ArcelorMittal South Africa [JSE:ACL] said it wants additional protection from cheap Chinese steel entering the country, asking the government to add import duties on more products.

“As an industry, we want additional protection on a wider range of products,” Kesebone Maema, a spokesperson for the unit of the world’s largest steel producer, said by phone on Thursday. “We have submitted additional applications and we hope for the best outcome.”

SA steelmakers are asking the government for protection against a surge in subsidised Chinese imports supplied at prices as much as 25% below local production costs.

Struggling to compete, local companies including Evraz’s SA unit and Scaw Metal Group have announced plans to cut a total of more than 2 400 jobs. The government approved in August the 10% tariffs on galvanised, aluminum-zinc coated and colour-coated steel.

ArcelorMittal South Africa has applied for tariff protection across more products, and plans to ask for anti- dumping and anti-subsidy duties within the next eight weeks, Maema said.

The company’s shares declined as much as 6.55% to R8.56 by 12:32 on the JSE.