ArcelorMittal South Africa Ltd. (ACL) lost a court appeal to keep secret its environmental plans for an area polluted by the company’s biggest steel-producing plant.
The Supreme Court of Appeal upheld a ruling that Amsa, as the unit of the world’s largest steelmaker is known, must hand over documents detailing its environmental-protection plan for the Vanderbijlpark plant in Gauteng province, according to a copy of the ruling delivered by the court yesterday.
“ArcelorMittal is a major, if not the major, polluter in the areas in which it conducts operations,” the court’s acting Deputy President Mohamed Navsa said in the judgment. “There is no room for secrecy.”
The plan was developed as “an internal document,” Amsa said in an e-mailed statement. It “will study the details of the judgment before responding to the ruling,” it said.
Chinese steel prices were mixed for the day. The price of iron ore 58% fines from India hit a high price of CNY 335.00 ($54.56) and a low price of CNY 325.00 ($52.93) per dry metric ton. The price of Chinese HRC rose 4.7% last Friday, just off the 30-day low of CNY 3,110 ($506.52) per metric ton it hit on Wednesday, November 26. The price of Chinese coking coal remained essentially flat at CNY 1,390 ($226.39) per metric ton.
The steel billet cash price saw little price change last Friday on the LME at $500.00 per metric ton. On the LME, the 3-month price of steel billet saw little change in its price last Friday at $480.00 per metric ton.
The 3-month price of the US HRC futures contract showed little movement last Friday, hovering around $628.00 per short ton. The US HRC futures contract spot price saw little movement last Friday at $635.00 per short ton.