Steel Matters – November 2023(图1)

The local steel market faced challenges in 2022/23, resembling consumption levels from the turn of the century. despite a more positve outlook for 2024, the past two years, steel consumption dropped by18%, while imports surged to over 25% of apparent steel use, up from 10% eight years ago. The south African steel industry's growth outlook is critical due to factors such as high inflation, logistics issues, weak demand in key sectors, and monetary policy tightening. Elevated imports of primary and value-added steel products in difficult trading conditions further threaten local production, job creation, and investment, according to SAISI Secretary General Charles Dednam.