SA Steel Output Falls 14.8% Year-On-Year In March
21 April 2016
South African steel output fell 14.8% in March from a year ago to an estimated 536,000 tons, according to the World Steel Association.
This followed a 16.3% rise in SA steel production to 7.6-million tons in 2015. Global steel production fell 2.8% to 1.6228-billion tons in 2015. Steel production in 2015 decreased in all regions except Oceania, which registered a 4.6% gain.
South African steel production fell by 7.6% year on year in the first half of 2015 to 3.2-million tons as the industry battled with electricity supply disruptions and subdued domestic demand.
The poor demand was in part due to the government’s multibillion-rand infrastructure investment plans failing to gain traction, as investment in steel-intensive railway corridors such as links to Swaziland and the Waterberg coalfields remained plans, not projects.
In the February 24 2016 budget, the Treasury outlined plans for R865.4bn investment in public-sector infrastructure spending over the next three fiscal years. The largest portion of R291.6bn will be invested in the steel-intensive transport and logistics sector.
Source : bdlive.co.za