SA eyes region’s building and mining sectors for exports of steel products
The government has adopted a multipronged strategy to aid the beleaguered domestic steel industry, which is facing strong headwinds in the form of global overcapacity, damaging imports and, more recently, US tariffs on steel and aluminium products. Preservation of local steel production is seen as essential as it is fundamental to manufacturing in SA and employs 190,000 people in the direct iron-ore, steel-making and fabrication industries. One key focus of the Department of Trade and Industry in its assistance to the industry is to encourage it to upgrade, innovate and produce higher value-added steel products for export into the regional construction and mining sector. This would help the industry move towards a more sustainable path in the current situation of excess capacity, two departmental officials said in a presentation they made to Parliament’s trade and industry committee on Tuesday on the status of the steel industry. Africa’s steel demand is gaining momentum, with growt...
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