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Carbon Steel News

Tata-Mistry spat shows independent company directors vulnerable in India

By: Reuters     23rd December 2016 The bitter boardroom battle at the heart of Tata Sons has put a spotlight on the vulnerability of India's independent company directors who stand-up to, or take on a dominant shareholder. Tata Sons is not only fighting former chairperson Cyrus Mistry, who has complained of mismanagement and... 

China steel, iron-ore slip on slow demand but headed for best year ever

By: Reuters     23rd December 2016 Steel and iron-ore futures in China headed south on Friday amid weak winter demand, but both commodities were well on track to post their biggest annual gains on record after this year's searing rally. Strong futures helped lift spot iron-ore prices by more than 70% this year, putting the... 

China steel, iron-ore slip on slow demand but headed for best year ever

AMSA, Highveld conclude manufacturing agreement 

By: Megan van Wyngaardt     22nd December 2016 Steel manufacturer ArcelorMittal South Africa (AMSA) has concluded a contract manufacturing agreement with embattled Evraz Highveld Steel & Vanadium (Highveld) and its HSM subsidiary, whereby AMSA would supply blooms and slabs to HSM for processing into heavy structural steel. This will result in... 

AMSA, Highveld conclude manufacturing agreement

Black-woman-owned steel manufacturing company launched 

By: Anine Kilian     8th December 2016 Despite the difficult economic climate South Africa currently finds itself in, black-woman-owned steel-manufacturing company RSC Avelo, which was officially launched in Roodepoort, Gauteng on Thursday, aims to be a key player in market, according to MD Mayleen Kyster. “Even though we are in a... 

Black-woman-owned steel manufacturing company launched
RSC Avelo, Roodepoort

AMSA shareholders back R2.2bn empowerment deal

By: Terence Creamer     18th November 2016 Shareholders in ArcelorMittal South Africa (AMSA) voted on Friday in favour of a R2.2-billion broad-based black economic empowerment transaction, involving Likamva Resources. The approval was carried by 99.9% of the shares that were eligible to vote. The deal will see Likamva initially hold a 17%... 

 AMSA shareholders back R2.2bn empowerment deal

AMSA announces steel price increases from December 1

By: Terence Creamer     15th November 2016 Steel producer ArcelorMittal South Africa (AMSA) announced on Tuesday that it would be increasing prices on flat- and long-steel products from December 1 – a move it attributed to market movements, rising input costs and the need to staunch losses at its Vanderbijlpark Works. The group outlined... 

AMSA announces steel price increases from December 1

Getting to grips with grade

     21st October 2016 Stainless steel is defined as a steel alloy with a minimum of 11% chromium content and performs better than ordinary steel in high temperatures and cryogenic applications, according to national distributor of stainless steel 3CR12, aluminum and special steels company Euro Steel. Stainless steel... 

Itac to make HRC steel safeguard recommendation in November

By: Terence Creamer     17th October 2016 The head of the International Trade Administration Commission of South Africa (Itac) reports that, following the completion of public consultations on the possible imposition of safeguard duties for hot-rolled coil (HRC) steel, the commission intends delivering its recommendation to Trade and... 

Itac to make HRC steel safeguard recommendation in November

New Seifsa president urges employer proactivity ahead of 2017 wage talks

By: Terence Creamer     14th October 2016 The incoming president of the Steel and Engineering Industries Federation of Southern Africa (Seifsa), Michael Pimstein, has called on employers affiliated to the body to adopt a proactive stance towards the upcoming 2017 wage negotiations. Pimstein is returning to a Seifsa post he last occupied... 

New Seifsa president urges employer proactivity ahead of 2017 wage talks

Steel sector’s sustainability much improved from earlier years

By: Megan van Wyngaardt     6th October 2016 The World Steel Association’s (worldsteel’s) 2016 edition of ‘Sustainable Steel – Policy and Indicators’, has shown only slight declines in the global steel industry’s sustainable development performance. Reporting is voluntary and, in 2015, 159 companies worldwide participated in the study, up... 

Steel sector’s sustainability much improved from earlier years

AMSA insists R2.27bn empowerment deal meets highest governance standards

By: Terence Creamer     28th September 2016 Steel producer ArcelorMittal South Africa (AMSA) has unwrapped its long-awaited R2.27-billion broad-based black economic empowerment (BBBEE) transaction, which chairperson Mpho Makwana insists meets the highest standards of probity and governance. An earlier 2010 attempt by the JSE-listed company... 

AMSA insists R2.27bn empowerment deal meets highest governance standards
AMSA's Wim de Klerk and Mpho Makwana with Likamva's Noluthando Gosa and Leslie Maasdorp

Limpopo’s proposed SEZ attracts R40bn investment

     23rd September 2016 A significant investment is already expected to be injected into the proposed Musina-Makhado Special Economic Zone (SEZ) - a boost for the energy and metallurgical industries. A consortium of Chinese investors led by Hong Kong Mining Exchange, will be investing more than R40-billion into an... 

Global steel production rises 1.9% y/y in August

By: Megan van Wyngaardt     21st September 2016 World crude steel production for the 66 countries reporting to the World Steel Association rose 1.9% year-on-year to 134.1-million tonnes in August. China’s crude steel production for August was 68.6-million tonnes, an increase of 3%, while Japan’s production was up 1.5% to 8.9-million tonnes. 

Seifsa welcomes G20 leaders’ decision to address steel glut

     6th September 2016 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) welcomes the decision by the Group of 20 (G20) leaders to address excess global steel capacity. Seifsa CEO Kaizer Nyatsumba on Tuesday said the decision, announced at the G20 leaders’ summit in Hangzhou, China, on Monday,... 

Preventative measures necessary to stop China dumping steel – Solidarity 

By: Natasha Odendaal     30th August 2016 Trade union Solidarity on Tuesday raised an alarm about the potential collapse of South Africa’s already-strained steel industry as cheap imports and “unfair trade practices” threaten the sustainability of local steel producers. Presenting its views to the International Trade Administration... 

Preventative measures necessary to stop China dumping steel – Solidarity 

IDC seeks strategic partner for struggling Scaw unit

By: Terence Creamer     30th August 2016 The Industrial Development Corporation (IDC) has initiated a process to find a strategic equity partner for its struggling steel subsidiary Scaw Metals, which reported a loss of over R1-billion for 2016. Speaking at the IDC’s financial results at the Coega Industrial Development Zone, in the... 

IDC seeks strategic partner for struggling Scaw unit
Photo by Duane Daws
IDC CEO Geoffrey Qhena

Govt, AMSA reach accord on steel price basket

By: Kim Cloete     23rd August 2016 Steel producer ArcelorMittal South Africa (AMSA) and government have agreed to remove import parity pricing with immediate effect in a bid to boost South Africa’s steel industry. The local price for flat steel products will be based on an import-weighted basket. 

Govt, AMSA reach accord on steel price basket

South Africa not surrendering its steel industry, says Davies

By: Kim Cloete     23rd August 2016 South Africa’s steel industry is facing some serious challenges, brought on by a global steel glut of 44-million tons a year, but it is vital for the country to do everything possible to maintain a sustainable, competitive steel industry as it is of strategic importance to the country, says Trade... 

South Africa not surrendering its steel industry, says Davies
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies

‘Transformational’ deal to change Aveng Grinaker-LTA’s look-and-feel, not tick BEE boxes 

By: Terence Creamer     23rd August 2016 South African construction and engineering group Aveng expects to conclude an empowerment transaction within months to further transform its Aveng Grinaker-LTA business, which is on the cusp of moving into the black for the first time since 2011. CEO Kobus Verster believes the transaction to be... 

 ‘Transformational’ deal to change Aveng Grinaker-LTA’s look-and-feel, not tick BEE boxes
Aveng CEO Kobus Verster on the thinking behind a planned 'transformational' deal involving Aveng Grinaker-LTA. Camera Work: Nicholas Boyd. Editing: Lionel da Silva. Recorded: 23.8.2016

CompComm approves AMSA’s R1.5bn settlement proposal

By: Samantha Herbst     22nd August 2016 The Competition Commission has approved steel producer ArcelorMittal South Africa’s (AMSA’s) proposal to pay R1.5-billion to the commission for its involvement in long steel and scrap metal cartels. This will be the largest competition-related fine ever paid by a single South African entity and... 

CompComm approves AMSA’s R1.5bn settlement proposal
Competition Commissioner Tembinkosi Bonakele

AMSA chief says rising rand to take gloss off recovery

By: Terence Creamer     17th August 2016 ArcelorMittal South Africa (AMSA) CEO Wim de Klerk says he still expects the steel group to enjoy a better second half than was the case in the six months to June 30, but admits that the recent strengthening in the rand against the US dollar is likely to weigh on financial performance. The... 

AMSA chief says rising rand to take gloss off recovery
Photo by Duane Daws
AMSA CEO Wim de Klerk

DTI's absence on steel price committee questioned

By: News24Wire      16th August 2016 Parliament is still waiting for a response from Trade and Industry Minister Dr Rob Davies on why no one from his department is being represented on the recently established steel price committee. At the end of June, Economic Development Minister Ebrahim Patel announced the members of the... 

China July iron-ore imports hit 2016 high, steel exports ease-customs

By: Reuters     8th August 2016 Chinese iron-ore imports rose 8.3% in July from the previous month to hit its second-highest on record, customs data showed on Monday, as underlying demand for the raw material in the world's top buyer remained strong. Shipment climbed to 88.4-million tonnes in July, the highest since December... 

China July iron-ore imports hit 2016 high, steel exports ease-customs

WTO confirms South Africa’s cold-rolled steel safeguards probe 

By: Terence Creamer     4th August 2016 The World Trade Organisation (WTO) has confirmed that South Africa has notified its committee on safeguards about the initiation of a safeguard investigation on certain cold-rolled steel products. In the notification, dated July 29, the International Trade Administration Commission of South... 

WTO confirms South Africa’s cold-rolled steel safeguards probe

New steel chief seeks dialogue on power-tariff risks

By: Terence Creamer     29th July 2016 New ArcelorMittal South Africa (AMSA) CEO Wim de Klerk views the prospect of ongoing electricity tariff increases as among his chief anxieties as he settles in at a company that is edging towards recovery, having not shown a profit since 2010. Addressing shareholders for the first time on Friday,... 

New steel chief seeks dialogue on power-tariff risks

Steel designations, Highveld supply to shore up AMSA demand amid weak market

By: Terence Creamer     29th July 2016 Steel producer ArcelorMittal South Africa (AMSA) expects a proposed deal to reopen the heavy-section mill at Evraz Highveld Steel & Vanadium (Highveld), together with recent moves by government to stipulate the use of local steel when calculating local content on certain infrastructure... 

Steel designations, Highveld supply to shore up AMSA demand amid weak market
Photo by Duane Daws
AMSA CEO Wim de Klerk

AMSA calls for more support as loss increases

By: African News Agency      29th July 2016 ArcelorMittal South Africa (AMSA) called for more state support for the steel sector as it reported a loss of R450-million for the six months to the end of June, a hefty increase on the loss of R111-million recorded for the corresponding period a year before. The company acknowledged the support... 

AMSA calls for more support as loss increases

Itac seeks input on steel duties after HRC probe finds imports causing ‘serious injury’ 

By: Terence Creamer     25th July 2016 The International Trade Administration Commission of South Africa (Itac) has concluded that the domestic steel industry is “suffering serious injury” as a result of a surge of imports of hot-rolled coil (HRC). However, it has decided not to impose provisional measures until it has received... 

Itac seeks input on steel duties after HRC probe finds imports causing ‘serious injury’

AMSA seeks more protection as it warns of bigger H1 loss

By: Terence Creamer     22nd July 2016 Steel producer ArcelorMittal South Africa (AMSA) warned on Friday that its loss for the six months to June 30 could be up to 64% higher than the loss of 28c a share reported for the same period in 2015. However, the interim loss of between 42c and 46c a share represented a significant improvement... 

AMSA seeks more protection as it warns of bigger H1 loss

Global steel production down 1.9% y/y in H1

     20th July 2016 Global steel production was flat month-on-month at 136-million tonnes in June, but production for the six months ended June 30 was down 1.9% year-on-year at 794.8-million tonnes. The World Steel Association on Wednesday reported that production by the Commonwealth of Independent States increased... 

Global steel production down 1.9% y/y in H1

Creditors to receive Highveld business rescue update on July 11

By: Terence Creamer     27th June 2016 The business rescue practitioners at Highveld Steel and Vanadium will hold a meeting in early July to update creditors and shareholders of the progress being made regarding the sale of assets, following the failure of an earlier proposal to sell the business as a going concern. The meeting will... 

Creditors to receive Highveld business rescue update on July 11

Big ‘focus’ on ensuring rail OEMs meet local-content commitments 

By: Terence Creamer     24th June 2016 A senior Department of Trade and Industry (DTI) official “promised” on Friday that the department was giving focused attention to ensuring that the local-content targets associated with Transnet’s R50-billion locomotive procurement programme were met. Chief director for industrial procurement Dr... 

Big ‘focus’ on ensuring rail OEMs meet local-content commitments

Portfolio committee chair questions DTI’s exclusion from ‘steel committee’

By: Terence Creamer     24th June 2016 The Portfolio Committee on Trade and Industry has raised serious concern about the exclusion of the Department of Trade and Industry (DTI) as a direct participant in so-called ‘steel committee’ set up to monitor interventions made to shore up the domestic primary steel industry, which is under... 

Portfolio committee chair questions DTI’s exclusion from ‘steel committee’

Exports seen as key to improving prospects for SA capital equipment manufacturers

By: Dylan Slater     17th June 2016 The South African Capital Equipment Export Council (Saceec) says domestic manufacturers of capital equipment stand a better chance of being sustainable in the country’s struggling economy by opening up export channels and liaising with foreign customers to build stronger ties in international... 

Exports seen as key to improving prospects for SA capital equipment manufacturers

De Klerk to start as AMSA CEO in July

     10th June 2016 Wim de Klerk’s appointment as CEO of ArcelorMittal South Africa (AMSA) will now be effective July 1, two months earlier than initially expected. The steel producer on Friday said De Klerk would vacate his position as FD of Exxaro on June 30, instead of the end of August, enabling him to start in... 

De Klerk to start as AMSA CEO in July
Photo by Duane Daws
AMSA CEO designate Wim de Klerk

Serious questions being asked about composition of ‘fair’ steel price basket 

By: Terence Creamer     3rd June 2016 South African steel consumers are raising serious concerns about the composition of the steel-price basket being proposed by ArcelorMittal South Africa (AMSA) as a mechanism for regulating domestic flat-steel prices and are seeking urgent talks with government to air their anxieties ahead of any... 

Serious questions being asked about composition of ‘fair’ steel price basket

Laser machine a first in Africa

By: Kimberley Smuts     3rd June 2016 South African manufacturer and distributor of cutting-edge capital equipment and consumables First Cut is aiming to complete the installation of an energy efficient Bystar fibre laser machine for a steel industry customer in November. “In Switzerland, the Bystronic laser range is currently at... 

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