{"id":7733,"date":"2012-02-08T01:46:41","date_gmt":"2012-02-07T23:46:41","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-2-arcelormittal-s-africa-wary-on-core-market-recovery-2\/"},"modified":"2012-02-08T01:46:41","modified_gmt":"2012-02-07T23:46:41","slug":"update-2-arcelormittal-s-africa-wary-on-core-market-recovery-2","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-arcelormittal-s-africa-wary-on-core-market-recovery-2\/","title":{"rendered":"UPDATE 2-ArcelorMittal S.Africa wary on core market recovery"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Year diluted headline loss\/shr 13 cts vs EPS of 343 cts<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Sees significantly better Q1 vs Q4<\/p>\n<p><span><\/span><\/p>\n<p>* Hard to gauge when underlying demand will improve<\/p>\n<p> (Adds detail, quotes, shares)<\/p>\n<p><span><\/span><\/p>\n<p>By Agnieszka Flak<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Feb 7 (Reuters) &#8211; ArcelorMittal South<br \/>\nAfrica slid into a full-year loss on the back of higher<br \/>\nraw material costs, lower output and weaker sales and warned<br \/>\nthat a pick-up in demand from key  construction industry<br \/>\ncustomers has yet to materialise.<\/p>\n<p><span><\/span><\/p>\n<p>Chief Executive Nonkululeko Nyembezi-Heita said restocking<br \/>\nand lower input prices would bring a significant turnaround in<br \/>\nearnings for the first three months of 2012 compared with the<br \/>\nprevious quarter but the outlook was challenging.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The primary consumer of steel products in South Africa is<br \/>\nthe construction industry and the outlook from this particular<br \/>\nsector continues to be bleak,&#8221; Nyembezi-Heita said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Therefore it is difficult for us to gauge when underlying<br \/>\ndemand for steel will really start kicking in.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The South African unit of ArcelorMittal, the world&#8217;s biggest<br \/>\nsteelmaker, is betting on planned projects to build renewable<br \/>\npower plants, transport infrastructure and water systems in the<br \/>\ncountry to boost but it is unclear how quickly these projects<br \/>\nwill come on stream.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Year diluted headline loss\/shr 13 cts vs EPS of 343 cts * Sees significantly better Q1 vs Q4 * Hard to gauge when underlying demand will improve (Adds detail, quotes, shares) By Agnieszka Flak JOHANNESBURG, Feb 7 (Reuters) &#8211; ArcelorMittal South Africa slid into a full-year loss on the back of higher raw material [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7733","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7733"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7733\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}