SteelMatters – February 2024
In this month's issue, we're diving into the fascinating world of steel trade and the strategic initiatives that are shaping the landscape of regional commerce in Africa.
SteelMatters – January 2024
In 2023, South Africa's steel industry showcased resilience, surging 10.7% in production despite global challenges, indicating recovery efforts but also highlighting the ongoing quest to surpass pre-COVID levels of output.
SteelMatters – November 2023
The current landscape poses formidable challenges for crucial steel-consuming sectors, namely construction, manufacturing, and mining. Persistent logistics challenges have disrupted the smooth flow of raw materials and finished goods, introducing delays and additional costs into the supply chain.
Government Calls for Comments On Proposed Amendments to the Second Hand Goods Act to Monitor Scrap Metal Trade
Proposed amendments to the Second-Hand Goods Act in South Africa will impact the scrap metal industry, with changes including registration requirements and enhanced reporting. Stakeholders should stay informed and participate in the discourse.
World Steel Association Forecasts Modest Growth in Global Steel Demand
Worldsteel's latest report predicts a recovery in steel demand, with a projected growth of 1.8% in 2023 and 1.9% increase in 2024, driven by infrastructure investment and emerging markets.
South Africa Increases Tariffs on Stainless Steel Products to WTO Bound Rate
South Africa's SARS increases customs duties on stainless steel flat products to WTO bound rate of 10%, aiming to bolster domestic industry against unfair competition concerns.
EU and US Pursue Steel Tariff deal
The EU and US navigate a steel trade saga stemming from tariffs initiated by the Trump administration. Potential interim deal targeting non-market practices impending.
Carbon and Certain Alloy Steel Wire Rod from Belarus, Italy, Russia, South Africa, South Korea, Spain, Turkey, Ukraine, the United Arab Emirates, and the United Kingdom
On August 2, 2023, the USITC determined that revoking countervailing duty orders on carbon and alloy steel wire rod from Italy and Turkey, and antidumping duty orders from multiple countries, would likely cause continued or renewed harm to the US industry.