ArcelorMittal SA long steel closure could affect cost of vehicle repairs

VEREENIGING - The looming closure of ArcelorMittal SA’s long steel business could cause the cost of vehicle repairs and replacements to rise. This is according to short-term insurer Santam in its 2024 financial results report published yesterday. Amsa’s decision to close its long steel plants in Vereeniging and Newcastle comes after talks with the government failed to find a solution to keep operations going. Santam warned that the closure could also worsen vehicle claims inflation as the industry turns to more expensive imports.