ArcelorMittal South Africa Says Rand’s Strength Adding to Woes

ArcelorMittal South Africa Ltd., which is in talks to sell its struggling operations, said the rand’s strength is adding to the risk it faces in the country.

The company’s average steel price fell by 3% in dollar terms and 5% in rand terms after the South African currency’s gains, it said in a statement on Thursday. The rand jumped about 14% against the dollar last year.