Last month, ArcelorMittal SA (Amsa) applied for a 51% duty on certain flat-rolled steel products imported from China. This comes on top of the 10% duty already in place, meaning importers may soon pay a 61% premium for products from China.
Should government grant this increase, the costs will be borne across the economy – from mining to construction and downstream beneficiation.
Read/listen:
ArcelorMittal M&A head holds talks in South Africa over unit sale
What the October PMI data tells us about the economy
ArcelorMittal, IDC end exclusive talks with no deal
Interim smelter plan to cost government R5.2bn
Amsa’s…
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manmanman
A baby was born in South Africa. The village was very poor, and the makeshift hospital didn\’t have some necessary equipment.. such as scales.
The father however, was desperate to know the newborn baby\’s weight. After quite a bit of asking around, the hospital\’s chairman came up with an idea.
\”Five miles west, there\’s a butcher shop. The owner deals with meat, he should have a rather precise scale. You could just put your baby on the meat scale, and the weight reading you\’ll get should be pretty accurate.\”
And so the father departed westward. After much walking, with his newborn child cardled safely in his arms, he finally arrived at the butcher shop. He explained his dilemma to the shop owner, to witch the latter replied:
\”Don\’t worry, friend. It\’s not even a problem, I\’ll check it for you, free of charge.\” And so he took the child to the back, where the scale was located.
The father heard rumbling noises, and some scraping.. About a minute later the butcher came back.
\”About three pounds boneless\” He said.
Old Man Winter
Fun South African Fact: While the country only covers 1% of the Earth’s land surface, South Africa boasts 10% of the world’s bird, fish and plant species as well as 6% of its mammal and reptile species!