Trade
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%.
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.
South Africa imported 1,299,257 tonnes of primary carbon and alloy steel products in 2022, down 5.1% from 2021. Imports surged 42.7% compared to 2019.
Global crude steel production decreased by 3.7% in Jan-Nov 2022 compared to the same period in 2021. Steel demand is expected to rebound slightly in 2023.
