South African steel production rose 3.1% year on year in November to an estimated 498,000 tons after jumping 13.8% in October to 534,000 tons, according to the World Steel Association (worldsteel). The June rise of 6.9% was the first annual increase this year and followed a 16.3% rise in steel production to 7.6-million tons for the whole of 2015 compared with a 2.8% decline in global steel production to 1.6228-billion tons. In 2015 steel production decreased in all regions except Oceania, which registered a 4.6% gain. In the first 11 months of 2016 SA steel production was down 4.5% compared with a 5.9% decline for Africa and a 0.4% increase for global steel production. In November global crude steel production rose an annual 5.0% to 132.4-million tons, of which China accounted for 66.3-million tons, which was a 5% increase. Poor SA demand was in part due to the government’s multibillion rand infrastructure investment plans failing to gain traction, as investment in steel-intensive r...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.