Government Seeks to Halt Exports of Used Rails Track to Curb Theft
The government aims to combat theft and vandalism of infrastructure by proposing restrictions on exporting rail tracks and copper products to verify metal sources.
Government extends Safeguard duties on threaded fasteners of iron or steel
The South African Revenue Service extended safeguard duty on steel fasteners by 48.04% to protect domestic industry, fostering fair competition and encouraging innovation and technology investments.
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.
EU safeguard measures on steel confirmed
The European Commission has finalised its steel import safeguarding measures for the next 12 months, with some changes and exemptions granted to developing countries, including South Africa.
Government extends the Ban on export of certain Ferrous and Non-Ferrous Waste and Scrap Metal by another Six months
On 15 July 2023, South Africa's Trade Minister extended the ban on certain scrap metal exports for another six months, following a consultation with industry.
African crude steel output ticks up in April
Global crude steel production witnessed a 2.4% decrease in April 2023 compared to the same month in the previous year, while Africa's production increased by 4.8%, led by South Africa, Libya, and Tunisia.
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.