- ArcelorMittal (MT +0.1%) has declared force majeure on its South Africa operations, saying civil unrest has prevented the company from fulfilling its contractual and delivery obligations.
- Riots in the KwaZulu-Natal and Gauteng provinces have slowed affected the freight rail corridor to and from the town of Newcastle, where its Newcastle Works is located, the company says.
- Apart from impacts on dispatches due to the unrest and road closures, the company says it anticipates only limited impact on its operations in the short-term.
- "Emerging market exposure, improved cost management and leverage, and green steel offer meaningful catalysts" for ArcelorMittal shares, Value Investor Research writes in a bullish analysis newly published on Seeking Alpha.