JOHANNESBURG (Reuters) -Steel producer ArcelorMittal South Africa's shares fell more than 15% on Monday after the company said it would proceed with the closure of its loss-making long steel business.

Around 3,500 jobs will be affected after weak economic conditions, high costs and Chinese steel imports weighed on the company.

ArcelorMittal South Africa Ltd. will close its business that makes long-steel products, potentially affecting about 3,500 jobs.

South Africa coach Shukri Conrad has hinted that the Proteas are looking for an opponent to play a Test match in England before their World Test Championship (WTC) final face-off against Australia at Lord’s from June 11. South Africa does not have any five-day matches scheduled before the WTC final.

South Africa and Australia will contest the third World Test Championship final after the latter defeated India in Sydney to claim a 3-1 series win in the Border Gavaskar Trophy. The match will be played at Lord's from June 11 to 15.

Final 2025 against South Africa in June later this year after winning the Border-Gavaskar Trophy (BGT) series 3-1 against India. There's, however, still an outside chance for Sri Lanka to pip Australia for a place in the WTC Final.