In October 2023, South Africa’s crude steel production registered a decline, of 350,800 tonnes, reflecting a 16.8% reduction when compared with the corresponding month in 2022.
Looking at year-to-date data for 2023 (January to October), South Africa’s crude steel production has demonstrated overall growth. The sector achieved 4,109,400 tonnes during this period, 8.9% up in comparison to the corresponding timeframe in 2022, where production amounted to 3,781,500 tonnes.
However, October 2023 marks the third consecutive month witnessing a contraction in domestic crude steel production.
On month-on-month trends, the growth in crude steel production exhibited a significant drop, October 2023 witnessed a 16.2% decline in output compared to the preceding month of September 2023.