South Africa’s Crude Steel Production Uptick: A Promising Start to 2024
February 2024 saw a 17.0% surge in South Africa's crude steel production, marking four consecutive months of double-digit growth and highlighting industrial resilience.
Global Steel Production Trends: Analysing January 2024 Figures and South Africa’s Strong Start in the New Year.
Global steel production decreased in January 2024, but Africa saw a notable increase. South Africa's steel output surged by 24.8%. The trade balance improved in 2022 but worsened in 2023.
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.
Government Extends ITAC Scrap Metal Price Preference System (PPS)
Extension of the price preference system on the exportation of ferrous and non-ferrous waste and scrap metal.
Africa crude steel production increased by 4,1% year-on-year in the first half of 2023
Global steel production in the first half of 2023 decreased by 1.1%, with African production led by South Africa, Libya, and Tunisia showing a 4.1% increase during the same period.
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.