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Steel prices can't fall much further, hopes embattled ArcelorMittal SA | Business

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Following an almighty crash last week, ArcelorMittal SA's share price retreated again on Thursday, despite reporting a net loss of R448 million in the six months to end June 2023. In the same period last year, the company posted a net profit of R3 billion

ArcelorMittal SA's Vanderbiljpark . operation Photo: ArcelorMittal

Following an almighty crash last week, ArcelorMittal SA's share price retreated again on Thursday, despite reporting a net loss of R448 million in the six months to end June 2023. In the same period last year, the company posted a net profit of R3 billion. The company lost 40% of its market value on Wednesday last week, after it warned of the massive loss in an update. However, since then, its shares have recovered almost half of that loss. On Thursday at lunchtime, its share price was trading 0.7% lower at 275c – from 625c a year ago.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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