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.
Steel imports remains high compared to 2019
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 down 4.3% on year in 2022: worldsteel
Global crude steel production in Jan-Dec 2022 was 1,831.5 Mt, down 4.3%. India was the only Top 10 producer with positive growth, and China remains the largest producer.
World Steel Production Decreased To 1.691 Billion Tons Jan-Nov 2022 Compared To The Same Period In 2021
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.