ArcelorMittal South Africa (AMSA) remains under severe financial pressure after reporting a sharp decline in revenue, a widening net loss and a growing debt burden in the first half of 2026. The steelmaker reported a 34% loss to R1.25-billion from R932-million in the same period last year, while revenue dropped 30% to R12-billion. The business continued to face extremely challenging market conditions, with imported steel accounting for 47% of South Africa’s apparent steel consumption, while a stronger rand also reduced revenue. The company posted an EBITDA loss of R409-million compared with a loss of R110-million in the first half of 2025. “Fundamentally, the company is in a much stronger and more focused position, having faced several loss-making operations in care and maintenance.