ArcelorMittal: SA steel consumption declined 20% over the past seven years

The consumption of steel in South Africa has declined by a fifth over the past seven years, showing a marked de-industrialisation and stagnation in economic activity in Africa's most developed economy. This is according to the country's largest producer of steel, ArcelorMittal SA, which also pointed out apparent steel consumption (ASC) in the second half of 2023 decelerated by 6%. Steel is the major component in infrastructure investments projects such as the construction of roads, bridges and other buildings, making it barometer to measure the health of an economy.