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Carbon Steel News

Solidarity to launch campaign to support the local steel industry

By: Megan van Wyngaardt     23rd February 2017 Trade union Solidarity has set its sights on the expansion and sustainability of South Africa’s domestic steel industry for the year ahead and will soon launch a Support Our Steel (SOS) campaign. The domestic steel industry had suffered significant setbacks in recent times, particularly after the... 

Seifsa welcomes R95m steel development fund

By: Megan van Wyngaardt     22nd February 2017 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) on Wednesday welcomed Finance Minister Pravin Gordhan’s R95-million allocation towards the establishment of a Steel Development Fund in the 2017 National Budget. The fund will be controlled by the Industrial Development... 

Aveng to seek shareholder backing for sale of Grinaker-LTA stake to Kutana in March  

By: Terence Creamer     21st February 2017 Construction and engineering group Aveng will seek shareholder approval before the end of March for the sale of a 51% beneficial interest in Aveng Grinaker-LTA to Kutana Construction, a black economic empowerment company. Aveng has also decided to include Aveng Water in the transaction, along... 

Aveng to seek shareholder backing for sale of Grinaker-LTA stake to Kutana in March
Aveng CEO Kobus Verster in conversation with Terence Creamer on group's performance and outlook, as well as the impending sale of 51% of Grinaker-LTA to Kutana. Camera Work & Editing: Nicholas Boyd. Recorded: 21.2.17

DTI promises fast-tracked support for downstream steel industry

By: Terence Creamer     17th February 2017 The Department of Trade and Industry (DTI) insists that measures to support the downstream steel industry in South Africa are a priority for government and are being fast-tracked. In a statement outlining the various interventions undertaken since 2015 to support a primary steel sector wracked by... 

DTI promises fast-tracked support for downstream steel industry

German steel federation sees Chinese overcapacity persisting

By: Reuters     16th February 2017 The German steel federation expects Chinese overcapacity for steel production, which puts pressure on global prices, to persist in the coming years, its president said on Thursday. China's overcapacity was 360-million tonnes last year and is likely to remain well above 300-million tonnes in 2020,... 

China iron-ore slips from record high as steel retreats

By: Reuters     15th February 2017 Iron-ore futures in China fell more than 1% on Wednesday after reaching a record high in a rapid rally spurred by rising steel prices that some market participants feel may have been overdone. Both commodities had started their rally shortly after China returned from the Lunar New Year break... 

AMSA keen to tap power tariff deal as Eskom mulls ‘incentive pricing’  

By: Terence Creamer     10th February 2017 Steel producer ArcelorMittal South Africa (AMSA) is optimistic that Eskom, with the support of the energy regulatory, could extend pricing incentives to it and other energy-intensive businesses in light of its surplus position and government’s appeal for interventions to reignite growth in the... 

AMSA keen to tap power tariff deal as Eskom mulls ‘incentive pricing’
AMSA CEO Wim de Klerk makes the case for further protection for domestic steel industry. Video and editing: Darlene Creamer 10.2.2017

AMSA narrows FY losses

By: Reuters     10th February 2017 ArcelorMittal South Africa (AMSA) narrowed full-year losses by 82%, it said on Friday, citing higher steel prices and a reduction in one-off items. The affiliate of ArcelorMittal, the world's biggest steelmaker, reported a basic headline loss per share of 244c for the year end December 31,... 

Thabazimbi mine to be transferred to AMSA

By: Anine Kilian     9th February 2017 Kumba Iron Ore has agreed to transfer its Thabazimbi mine, in Limpopo, to ArcelorMittal South Africa (AMSA). Until 2014, the mine was a captive mine owned and run by Kumba subsidiary Sishen Iron Ore Company (SIOC), but was funded by and supplied ore exclusively to AMSA. AMSA is, therefore,... 

IDC hopes to salvage wind-tower plant, but warns liquidation can’t be ruled out 

By: Terence Creamer     8th February 2017 The Industrial Development Corporation (IDC) is hoping to salvage the domestic manufacturing capability established to produce wind-tower sections in the Eastern Cape that was set up in response to government’s demand for higher levels of local content in the renewable-energy sector. However, it... 

IDC hopes to salvage wind-tower plant, but warns liquidation can’t be ruled out
Sections being manufactured at DCD Wind Towers plant, which has been shut since December

Beijing warns US over high taxes on Chinese steel products

By: Reuters     6th February 2017 China is disappointed at continued high US tax rates on Chinese steel products and will take necessary steps to protect the rights of its enterprises, a Ministry of Commerce official said on Saturday. The United States moved closer to slapping duties on imports of stainless steel sheet and strip... 

Worries over US protectionism 'growing every day' – Nippon steel exec

By: Reuters     2nd February 2017 Worries over US President Donald Trump's protectionist policies are "growing every day", a senior executive at Nippon Steel & Sumitomo Metal Corp said, however, any impact on its US steel exports would be limited. Trump has threatened to ditch the North American Free Trade Agreement (Nafta) that... 

Construction steel designation confirmed after intensive lobbying effort

By: Terence Creamer     26th January 2017 The long-awaited stipulation that domestic steel, as well as locally made steel products and components, be used in public-sector construction projects has been welcomed by South Africa’s leading steel producer, as well as by the Southern African Institute of Steel Construction (SAISC). It is the... 

Construction steel designation confirmed after intensive lobbying effort

Rehabilitation work begins to prepare Highveld structural mill for restart

By: Terence Creamer     23rd January 2017 Rehabilitation work at Highveld Steel’s heavy structural mill, located at the mothballed steel plant’s expansive site in Mpumalanga, is under way to prepare the facility for recommissioning, following the conclusion of a supply and marketing deal with ArcelorMittal South Africa (AMSA) in... 

Rehabilitation work begins to prepare Highveld structural mill for restart

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
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