Bloomberg News

ArcelorMittal South Africa Declines to Lowest Since March 2009

July 27, 2011

July 27 (Bloomberg) -- ArcelorMittal South Africa Ltd., a unit of the world’s largest steelmaker, fell to its lowest intraday level since March 2009 after saying it expects third- quarter earnings to be “substantially lower” than the previous three months.

Shares in the steelmaker fell as much as 5 percent to 70.50 rand, the lowest in more than two years, and traded 4.7 percent lower at 70.70 rand as of 9:06 a.m. Johannesburg time.

To contact the editor responsible for this story: Alastair Reed at

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