http://www.engineeringnews.co.za
R/€ = 16.59 Change: -0.02
R/$ = 14.40 Change: -0.01
Au 1226.67 $/oz Change: -0.01
Pt 832.50 $/oz Change: 0.75
 

Metals News

Transnet results eclipsed by irregular expenditure, qualified audit and State capture

By: Terence Creamer     20th August 2018 A surge in irregular expenditure to over R8-billion triggered a qualification of Transnet’s 2018 financial results, all but eclipsing an otherwise strong financial and operational performance by the State-owned group. The irregular expenditure related primarily to procurement undertaken by... 

Industry membership set to stimulate sector

By: Tasneem Bulbulia     17th August 2018 Steel supplier and processing company Allied Steelrode will use its new membership of the SA Institute of Steel Construction (SAISC) to play a positive role in the development and regeneration of the downstream steel industry, Allied Steelrode executive director Warne Rippon tells Engineering... 

Industry membership set to stimulate sector
Photo by Bloomberg
UNDER PRESSURE The downstream steel sector is experiencing severe challenges

Trump says his steel tariffs will save the US industry – WSJ

By: Reuters     16th August 2018 President Donald Trump said on Wednesday his tariffs on foreign steel are saving the US industry and he predicted that in the future American steelmakers will mostly face domestic competition, the Wall Street Journal reported. In a 20-minute interview with the newspaper, Trump said some people... 

Two workers die at Dubai aluminium furnace, EGA says

By: Reuters     15th August 2018 Two workers died at an industrial furnace in Dubai, reportedly by burning to death, the operator of the plant said on Tuesday. Emirates Global Aluminium said the accident took place on Monday as the men "were working at an industrial furnace, which was shut down for routine maintenance and was... 

China coal output hits lowest in years, but heatwave boosts power generation

By: Reuters     14th August 2018 China's coal output fell 2% in July to its lowest in years as Beijing's crackdown on polluting industries crimped mining in the world's top consumer of the fuel, driving import demand as hot weather boosted thermal power generation. The country produced 281.5-million tonnes of coal in July, down... 

India's Tata Steel Q1 profit more than doubles, lags forecasts

By: Reuters     13th August 2018 Indian steelmaker Tata Steel said on Monday quarterly net profit more than doubled, but it was well below market expectations as a result of a one-off charge. Net profit was 19.34-billion rupees ($276-million), compared to a profit of 9.21-billion rupees a year earlier, Tata said. 

Solidarity reaches wage agreement with AMSA

By: Marleny Arnoldi     8th August 2018 Trade union Solidarity has reached common ground with steel giant ArcelorMittal South Africa (AMSA) and has signed a wage agreement that is “favourable to all parties”. This follows after the union on July 13 referred its dispute with AMSA to the Metal and Engineering Industries Bargaining... 

Mathe Group ups tyre processing by 35%, grows steel exports

By: Irma Venter     7th August 2018 The KwaZulu-Natal-based Mathe Group, South Africa’s largest tyre recycler, has developed two steel by-products that are being exported to Australia and Korea in growing quantities. Dr Mehran Zarrebini, head of British investment group PFE International, which is one of the major shareholders in... 

Mathe Group ups tyre processing by 35%, grows steel exports

Steel mills in China's Hebei cut output due to power shortage

By: Reuters     6th August 2018 Some steel mills in Hebei, China's top steelmaking province, have been ordered to curb operations due to power shortages in the region, industrial sources said. Power grid loading in late July in southern areas of Hebei reached 36.57 gigawatts (GW), the highest on record, as a heatwave spurred... 

Eskom pilots incentive designed to claw back 5 TWh of energy-intensive demand 

By: Terence Creamer     6th August 2018 State-owned electricity producer Eskom has confirmed that it has entered into a sales incentive pilot programme with nine large industrial customers in a bid to stabilise sales to electricity-intensive industries. The two-year sales incentive pilot programme, which commenced on June 1, has the... 

Eskom pilots incentive designed to claw back 5 TWh of energy-intensive demand

Japan steelmakers shrug off US tariffs in earnings but warn on automobile duties

By: Reuters     2nd August 2018 Japanese steelmakers reported little fallout in their first-quarter earnings from the US import tariffs on steel, but they all voiced growing concerns over possible US duties on automobiles which could hurt a wide range of Japan's industries. US President Donald Trump ordered a national security... 

New graphite factory bolsters mining, foundry product offerings

By: Schalk Burger     2nd August 2018 A new graphite facility, Graphite Freezeline Solutions, was opened last month on industrial engineering firm Thos Begbie’s manufacturing campus, in Middelburg. It will reduce the time to manufacture products that include graphite components, especially for the mining and foundry industry, says... 

New graphite factory bolsters mining, foundry product offerings
GFS FACILITY OPENING Hercules van der Merwe at the Graphite Freezeline Solutions facility opening

AMSA studies new Vanderbijl electric arc furnace as it moves to restart Vereeniging mill 

By: Terence Creamer     1st August 2018 Steel producer ArcelorMittal South Africa (AMSA), which announced its first interim profit in six years and may be on track to deliver its first full year profit since 2010, has initiated a study for the construction of a new electric arc furnace (EAF) at its Vanderbijlpark mill and has also... 

AMSA studies new Vanderbijl electric arc furnace as it moves to restart Vereeniging mill
AMSA CEO Kobus Verster

AMSA swings to H1 profit

By: Reuters     1st August 2018 ArcelorMittal South Africa (AMSA) swung back to a modest profit in the first half of the financial year, boosted by higher steel prices and upbeat sale volumes, the firm said on Wednesday. Diluted headline earnings per share (HEPS) for the six months ended 30 June, 2018, is 5c a share compared... 

AMSA swings to H1 profit

IDC open to ‘all options’ for turning around Foskor as impairments surge  

By: Terence Creamer     31st July 2018 The State-owned Industrial Development Corporation (IDC) reported a sharp rise in impairments during its 2018 financial year, which surged 178% to R2.7-billion, from R954-million in 2017. Impairments as a percentage of total financing also increased to R4.9-billion (R2.1-billion), or 17.4%, only... 

IDC open to ‘all options’ for turning around Foskor as impairments surge
IDC CFO Nonkululeko Dlamini and CEO Geoffrey Qhena discuss the rise in impairments in the 2018 financial year, while IDC chairperson Busisiwe Mabuza outlines the need for policy certainty. Video and editing: Nicholas Boyd.

Turkish steel makers eye exports to West Africa amid US tariff setbacks

By: Reuters     31st July 2018 Turkish steel makers are looking to expand in West Africa and other emerging markets in response to tariffs and planned quotas which threaten their sales to the United States and the European Union (EU), a senior sector official said. Namik Ekinci, board chairperson for the Turkish Steel Foreign... 

Hulamin sells well despite US import tariffs, decreased trade with China

By: Marleny Arnoldi     30th July 2018 JSE-listed aluminium supplier and exporter Hulamin has declared a 77% decrease in headline earnings a share to 13c for the six months ended June 30, partly owing to the 7% strengthening of the rand against the dollar to an average of R12.30 in the period, compared with an average of R13.22 in the... 

Hulamin sells well despite US import tariffs, decreased trade with China
Hulamin CEO Richard Jacob

Chinese investors plan $10bn metallurgical complex in South Africa

By: Reuters     27th July 2018 Chinese investors signed agreements to build a $10-billion metallurgical complex in South Africa during President Xi Jinping's state visit this week and hope to start construction next year, an executive involved in the project and a provincial official told Reuters. South Africa's President... 

Competitive prices key in eliminating counterfeit parts

By: Halima Frost     27th July 2018 Although Africa is a brand-conscious continent the majority of consumers seek cheaper prices, and the automotive industry needs competitive aftermarket prices to deal with the challenges posed by counterfeit goods, says intellectual property law firm Spoor & Fisher anti-counterfeiting department... 

Competitive prices  key in eliminating counterfeit parts
SPARKS FLY Confiscated bearings are taken to a smelter to be destroyed

D2M system grows its Plascon Acryline range

By: Halima Frost     27th July 2018 Owing to global demand for smarter painting systems that are cost effective and reduce process time, coatings company Kansai Plascon has introduced its Acryline Direct-2-Metal (D2M) system of automotive paints, which is considered as one of South Africa’s leading commercial-vehicle (CV) coating... 

D2M system grows its Plascon Acryline range
A RAINBOW OF COLOURS Kansai Plascon’s D2M range is available in thousands of different hues

Global steel output jumps in H1 as strong margins tempt mills to ramp up

By: Reuters     26th July 2018 Global crude steel output, a gauge of economic health, rose 4.6% in the first half of this year versus the same period last year, as strong margins prompted mills in major producing countries to ramp up, industry data showed on Thursday. Crude steel production for the 64 countries reporting to... 

WTO chief sees trade war ending in political talks

By: Reuters     26th July 2018 The nascent global trade war will have to be ended by a political agreement between world leaders, because continuing down the current path will only damage the global economy, the head of the World Trade Organization said on Wednesday. WTO Director General Roberto Azevedo said that world leaders... 

South Africa 'collateral damage' in US-led global trading war – Davies

By: African News Agency      25th July 2018 South Africa has become "collateral damage" in the trading war involving mainly the United States, China, Canada and the European Union, with tariffs imports on its steel exports, Trade and Industry Minister Dr Rob Davies said on Wednesday. Global tensions have flared up as other countries hit... 

South Africa 'collateral damage' in US-led global trading war – Davies

Hulamin H1 earnings decline further amid US steel tariffs

By: African News Agency      25th July 2018 JSE-listed aluminium producer, Hulamin, said on Wednesday that it expected its basic earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended June 30 to decline even further from what was initially anticipated.  Hulamin said that EPS and HEPS for the half year... 

Hulamin H1 earnings decline further amid US steel tariffs

Solidarity unhappy with AMSA's wage offer

By: Simone Liedtke     24th July 2018 Trade union Solidarity has called ArcelorMittal South Africa’s (AMSA’s) proposed wage offer for this year “nothing but a slap in the face of hard-working employees”. The union on Tuesday said AMSA had proposed an increase of 6.5% in its contribution to employees’ medical aids. 

Steel and aluminum import tariffs a big concern for industry – Busa

By: African News Agency      23rd July 2018 Business Unity South Africa (Busa) said on Sunday that it was very concerned about imminent job losses in the domestic steel and aluminium industry if the import duties imposed by the United States government succeed. Speaking during the session on South African investment opportunities at the... 

In Senegal, China's President Xi pledges stronger Africa ties

By: Reuters     23rd July 2018 China's President Xi Jinping pledged during a visit to Senegal on Saturday to strengthen economic ties with Africa, a continent already awash with cheap Chinese loans in exchange for minerals and huge construction projects. Xi arrived in Senegal on Saturday for a two-day visit to sign bilateral... 

Trade war could knock 3% off global GDP – Bank of France study

By: Reuters     20th July 2018 An international trade war with wide-ranging tariff hikes could cut global gross domestic product by as much as three percent, according to a study by the French central bank on Thursday. The direct impact of a generalised 10 percentage point increase in import tariffs could alone knock 1% off... 

AMSA’s shares rise on expectations of lower losses

By: Creamer Media Reporter      19th July 2018 ArcelorMittal South Africa’s (AMSA’s) share price on the JSE rose by more than 12% on Thursday morning as the company announced that it expects to report a 25% to 30% narrowing in its losses a share for the six months ended June 30. The company’s loss a share is expected to decrease from the 203c... 

EU to curb steel imports after Trump tariffs

By: Reuters     18th July 2018 The European Union will launch measures on Thursday designed to prevent a surge of steel imports into the bloc following the US imposition of tariffs on incoming steel and aluminium, the EU's official journal said. The European Commission has proposed a combination of a quota and a tariff to... 

Numsa lodges wage dispute with AMSA

By: African News Agency      17th July 2018 The National Union of Metalworkers of South Africa said on Tuesday it had lodged a dispute at the Commission for Conciliation, Mediation and Arbitration (CCMA) against ArcelorMittal South Africa (AMSA) after reaching a deadlock in wage talks. The union is demanding an 11% wage increase across the... 

Davies concerned about extension of US tariffs to autos and auto parts

By: African News Agency      16th July 2018 South Africa’s steel and aluminium exports to the United States does not pose any threat to US national security, says Trade and Industry Minister Dr Rob Davies. Davies was speaking during bilateral meetings in Washington DC with US Trade Representative Ambassador Robert Lighthizer, US Secretary... 

Davies concerned about extension of US tariffs to autos and auto parts
Trade and Industry Minister Dr Rob Davies

China June aluminium, steel exports rise as trade row intensifies

By: Reuters     13th July 2018 China's aluminium exports exceeded half a-million tonnes for only the second time ever in June as stronger international than domestic prices encouraged overseas shipments, while steel exports hit an 11-month high, defying US tariffs. China is the world's biggest producer of both steel and... 

Compressed air dryer freezing the costs of energy consumption

By: Halima Frost     13th July 2018 Compressed-air treatment suppliers Artic Driers International, also the Southern Africa distributor of global manufacturer SPX Flow Busan products, has introduced a new approach in compressed-air drying South Africa through the Phase Change Material (PCM) compressed-air dryer. “The constant need... 

Compressed air dryer freezing the costs of energy consumption
COOLER CUTTING COSTS The SPX Flow Busan compressed-air dryer is now available in South Africa

Shanghai rebar hits 10-month top as China's pollution fight intensifies

By: Reuters     12th July 2018 China's rebar steel futures rallied more than 3% to their highest in 10 months on Thursday amid potentially tighter supply as the government intensifies efforts to clean up its skies. China's cabinet launched on Wednesday a new cross-ministerial leadership group, headed by vice-premier Han Zheng,... 

Switzerland launches WTO action over US steel, aluminium tariffs

By: Reuters     10th July 2018 Switzerland has launched a complaint at the World Trade Organization against US tariffs on steel and aluminium, it said on Tuesday, the eighth WTO member to start such a challenge. "From Switzerland's point of view, the additional duties, which according to the US have been introduced to protect... 

US to initiate ‘exploratory talks’ on post-Agoa model at Washington forum

By: Terence Creamer     9th July 2018 United States Trade Representative (USTR) Robert Lighthizer will use this week’s African Growth and Opportunities Act (Agoa) Forum in Washington DC to initiate “exploratory talks” with African governments on a possible trade model that could be implemented when the unilateral programme expires in... 

US to initiate ‘exploratory talks’ on post-Agoa model at Washington forum
Photo by Bloomberg
US Trade Representative Robert Lighthizer

Latest News

more

Latest Videos

more

Press Office

more

Topics In These Articles

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Now for $119 Close