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AMSA moves ahead with applications for ‘safeguard duties’

Steel producer ArcelorMittal South Africa (AMSA) confirmed on Wednesday that it had submitted applications to the International Trade Administration Commission of South Africa (Itac) in December for “specific safeguard duties” on bars and rods, rebar, hot rolled coil, cold rolled coil and plate. The JSE-listed company – which is also pursuing a R4.5-billion rights issue, following five consecutive years of losses – had already received 10% protection against three of its ten applications to Itac and expected determinations on the remaining applications “in early 2016”.