LETTER: Objections show why steel duties should be scrapped
Oversupply and lower prices would allow the fabricators to compete with imports and save their businesses
Your report on ArcelorMittal’s objections to the call for import duty refunds illustrated precisely why the current import duties should be scrapped immediately (“ArcelorMittal says removing steel import tariffs will hurt sector (https://www.businesslive.co.za/bd/companies/industrials/2021-03-30-arcelormittal-says-removing-steel-import-tariffs-will-hurt-sector/)”, March 30).
ArcelorMittal, as a primary producer, obviously sees itself as embodying the “steel sector”. As the scrapping of import duties might result in a midyear oversupply on the local market, falling steel prices would render their out-of-date operations unprofitable. Thus the current tariffs must be maintained...
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