March 2023 crude steel production up 1,7%
Global crude steel production increased by 1.7% in March 2023 compared to the previous year, with Africa, Asia/Oceania, and Russia/CIS/Ukraine showing growth, while South America, Europe, other, the Middle East, and North America experienced declines.
UK Follows European Union in Proposing a Carbon Price on Imports
The UK government is exploring a carbon border adjustment mechanism (CBAM) and mandatory product standards to address carbon leakage risk and reduce emissions from imports, impacting sectors like iron and steel.
February Carbon & Alloy Steel Imports Up 21,8 Percent From Prior Month
In February 2023, South Africa saw a significant increase in imports of primary carbon and alloy steel products, with profiles and flat steel products being the major contributors. Compared to the previous year, imports surged by 23.7%.
Megatrends and their impact on the global steel industry (World Steel Organisation)
Megatrends such as urbanisation, technological progress, and climate change will shape the future of the global steel industry, requiring adaptation and investment in innovation and sustainability.
The US is to continue anti-dumping orders on wire rod imports from 10 countries including South Africa
The U.S. Department of Commerce has found that revoking antidumping duties on steel wire rod from multiple countries would likely lead to continued dumping. Dumping margins range from 4.44% to 756.93%.
Global crude steel production declined by 1.0% in February 2023
Global crude steel production decreased by 1.0% in February 2023 compared to the same month in 2022, with China as the top producer. Europe and Türkiye saw significant decreases.
South Africa’s economy shrank more than expected in the last quarter of 2022
South Africa's economy contracted by 1.3% in Q4 2022, worse than expected, due to rolling blackouts. Recovery for critical sectors is slow, affecting steel industry performance.
Global crude stainless steel production expected to reach 60 million tonnes in 2023
MEPS predicts global crude stainless steel production to hit 60 million tonnes in 2023, driven by China and Indonesia. India's production is expected to rise.
World Steel Association: January 2023 crude steel production Down 3.3%
World crude steel production in January 2023 declined by 3.3%. Regions including Russia, Europe, EU, North America, Africa, Asia/Oceania, and South America reported production decreases, while the Middle East saw an increase.
The uses of steel in the mining industry
Steel is widely used in mining due to its durability and corrosion resistance. It is used for tools, equipment, infrastructure, machinery, grinding balls, railway lines, and high-strength plates.