South Africa’s Crude Steel Production Continues Downward Trend in Q3 2024

The South African steel industry is grappling with persistent challenges, as recent data reveals a 4.3% decline in crude steel production for September 2024 compared to the same period in 2023. Total production for Q3 2024 stood at 1,292,700 tonnes, a 4.9% decrease from the 1,359,900 tonnes recorded in Q3 2023. This follows an even more significant year-on-year drop of 17.4% in Q2 2024.

The sector remains under pressure from a surge in dumped imports, which continues to impact local producers. This trend underscores the urgent need for actions to stimulate demand and safeguard the domestic steel industry. The South African Iron and Steel Institute (SAISI) is calling for the swift acceleration of state-led infrastructure projects to increase steel consumption and provide much-needed support for the sector. Additionally, SAISI is urging stakeholders to implement strong trade measures and prioritise the localisation of manufacturing to protect local producers from the growing wave of below-cost steel imports from Asia.