ArcelorMittal South Africa (AMSA) announced that it would close its long products plants gradually and notify of layoffs. The company's long products business had been suffering from losses due to low-priced imports and sluggish local demand.

They were under a closure crisis this March but got a loan of 1.68 billion rand from the Industrial Development Corporation (IDC) of South Africa Limited and got a 6-month time buffer for solution settlement.

CEO Kobus Verster indicated the negotiations with the government and other beneficiary parties were not as smooth as expected, company internal structural problems are unsolvable, problems like soaring electricity costs and worsening transportation system continue to limit the development, and the management is forced to close the long product business.

ASMS has two long product plants. The closure will impact thousands of employees. The National Union of Metalworkers of South Africa (NUMSA) refers to ASME long products plants’ closure as a disaster for the social economy.