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Stainless Steel

Indian steel company in $400m Zimbabwe steel deal

By: Keith Campbell     14th April 2006 INDIAN company Global Steel Holdings has recently added the Zimbabwe iron and Steel Company (Zisco) to its portfolio. 

Excessive pricing about level not process - Mittal witness

By: Terence Creamer     10th April 2006 Excessive pricing is about the “level” of prices, not the “process” by which a firm set its prices, Dr Mike Walker, vice president of CRA International, testified at the Competition Tribunal in Tshwane yesterday. 

Are we right body to set steel prices, tribunal asks

By: Terence Creamer     7th April 2006 There are few examples globally of competition authorities presiding over excessive-pricing complaints and, for that reason alone, the Competition Tribunal hearing convened to consider a complaint of alleged excessive pricing and inducement abuse by Mittal Steel South Africa is likely to receive... 

Mittal expert acknowledges peculiarity of SA steel pricing

By: Terence Creamer     4th April 2006 A steel-industry expert called by Mittal Steel South Africa to give testimony before the Competition Tribunal acknowledged on Tuesday that he had not come across another market internationally where import-parity pricing (IPP) was employed as the basis for setting domestic steel prices. 

Market unfazed by steel-price fight

By: Terence Creamer     3rd April 2006 The market's muted reaction to developments and statements being made at the ongoing Competition Tribunal hearing into alleged excessive pricing and inducement abuse by Mittal Steel South Africa, appears to be based on a belief that the tribunal, as one analyst put it, simply “does not have... 

Competition Tribunal delves into steel group's complex system of price setting and rebates

By: Terence Creamer     31st March 2006 On the fourth day of the ongoing Competition Tribunal hearing into alleged excessive pricing and inducement abuse by the steel giant, Mittal Steel South Africa, chairperson Dr David Lewis went right to the heart of the matter in his questioning of a key witness. 

Disagreement all round

By: Terence Creamer     31st March 2006 What will a scaled-up electricity-generation investment plan mean for future prices? This question, no doubt, is weighing heavily on the minds of officials at State utility Eskom, the National Energy Regulator of South Africa (Nersa) and those private enterprises deliberating energy-based... 

'Mittal would earn fair returns on export prices'

By: Terence Creamer     31st March 2006 Steel producer Mittal Steel would be profitable and earn returns comfortably above its total costs if it charged the equivalent of an export price to all its customers, domestic or foreign, gold-miners DRDGold and Harmony contend. In testimony to the Competition Tribunal on Friday, Prof Simon... 

'Price system, not merchant margins at root of high steel prices'

By: Terence Creamer     30th March 2006 The argument that the margins enjoyed by South African steel merchants might be as much to blame for South Africa's high steel prices as Mittal Steel South Africa's pricing policies, was challenged on Thursday by an expert witness for Harmony and DRDGold, who argued that the pricing system... 

Mittal expansion not premised on export-price viability

By: Terence Creamer     30th March 2006 The decision to raise steel production from Mittal South Africa's mills by two-million tons over the next few years was premised on a de-bottlenecking exercise and on a desire to create greater operational flexibility, the steel producer's first witness to take the stand at the Competition... 

Cabinet backing for phase-out of import-parity pricing confirmed

By: Terence Creamer     29th March 2006 Trade and Industry Minister Mandisi Mpahlwa on Wednesday clarified the contents of a much-debated Cabinet memorandum relating to import-parity pricing (IPP). 

Are we right body to set steel prices, tribunal asks

By: Terence Creamer     25th March 2006 The pressure of presiding over South Africa's first excessive-pricing complaint was apparent for all to see on Friday, when Competition Tribunal members began raising questions over jurisdiction and the appropriateness of their intervention in the setting of a new steel-price regime. The hearing... 

Import-parity pricing not world steel-industry norm - expert witness

By: Terence Creamer     22nd March 2006 The peculiarity of employing import-parity pricing (IPP), or even a basket of international domestic prices, as the basis for computing domestic steel prices in the South African market, came to the fore on Wednesday at the Competition Tribunal hearing, which has been convened to hear a complaint... 

Mittal's complex rebate system probed at hearing

By: Terence Creamer     20th March 2006 Mittal Steel South Africa's convoluted and complex system of price rebates and discounts again came under the spotlight on Monday at the Competition Tribunal hearing being held to consider a complaint of alleged excessive pricing and inducement abuse by the steel giant. The case was referred... 

Price formula dispute at root of Mittal, DTI deadlock

By: Terence Creamer     16th March 2006 Disagreement over the appropriateness as well as the make-up of a basket of international domestic steel prices to be used as the benchmark in setting South African prices, lay at the root of the current deadlock in talks between Mittal Steel South Africa and the Department of Trade and Industry... 

Mittal says dual-pricing system is a business imperative

By: Terence Creamer     15th March 2006 The ability of South Africa's largest steel producer to make 'reasonable returns' under a hypothetical scenario where it was disallowed from charging higher prices on flat steel to domestic customers compared to those charged in the export market, emerged as a central theme in opening arguments... 

Steel major will endeavour to buy local as it gears up to invests R8,9bn

By: Terence Creamer     10th March 2006 Steel producer Mittal Steel South Africa, part of the world’s largest steel company, says it is committed to incorporating as high a level of local content as possible as it moves to implement its R8,9-billion capital expenditure plans. 

Steel company embarks on diversification strategy

By: Laura Tyrer     3rd March 2006 Prominent supplier of tool, engineering and stainless steel to the South African industry, Swiss Steel International South Africa is horizontally diversifying its portfolio with the recent acquisition of ThyssenKrupp VDM SA. 

SA steel sector expected to deliver the goods

By: Laura Tyrer     3rd March 2006 Plans for extensive capital expenditure on infrastructure development projects, due to be implemented over the next decade, have cast doubt on the capacity of the South African steel industry’s ability to execute these projects. The South African Institute of Steel Construction (SAISC),... 

Alliance partnerships pave the way for expansion and growth

By: Laura Tyrer     3rd March 2006 As the largest privately-owned structural steel company in South Africa, Cosira is stimulating competition and safeguarding local industry by forming alliance partnerships in various regions throughout the country. 

Financier helping steel sector to gear up for expenditure programmes

By: Laura Tyrer     3rd March 2006 Self-financing national development finance institution, the Industrial Development Corporation (IDC) is particularly focused at present on job creation and development with regional development focuses. 

The end of import parity pricing?

By: Laura Tyrer     3rd March 2006 The dissatisfaction that has raged over import parity pricing (IPP) in certain sectors of South African industry, notably the steel industry, may be reconciled after government’s resolve to phase out the controversial pricing practice. 

R9bn capex programme proceeding smoothly

By: Laura Tyrer     3rd March 2006 South Africa’s largest steel producer Mittal Steel South Africa says its R9-billion capital expenditure (capex) programme is proceeding according to plan with the completion of the main water treatment plant at the corporation’s Vanderbijlpark plant. 

China driving world steel industry

By: Laura Tyrer     3rd March 2006 China’s rapidly-expanding steel market, which has been lauded as a cure for the world’s ailing steel industry, could represent a double-edged sword should demand fail to live up to increasing capacity expansions. 

Local steel market disappoints . . .

By: Laura Tyrer     3rd March 2006 ...but future demand looks promising 

BEE firm on track with R32m contract

By: Nelendhre Moodley     3rd March 2006 Established in 1996, Seven Steel Services reports that its black economic-empowerment status is the springboard to increased work opportunities and despite having only one female onboard, the company, nevertheless, consists of a workforce with a 90 % previously-disadvantaged background. 

Innovation rather than cheap inputs to underpin aluminium reroller's growth strategy

By: Terence Creamer     3rd March 2006 The creation of an independently listed aluminium reroller through the unbundling of Hulett Aluminium (Hulamin) from the larger Tongaat Hulett group is unlikely to be the first stage in the development of a vertically-integrated aluminium company in South Africa. What it could herald, though, is... 

World steel output up 5% y/y in January

22nd February 2006 World crude-steel production for January increased by 5% year-on-year to 95-million-metric tons (mmt), the International Iron and Steel Institute (IISI) said in a media statement. 

SA gold-miners prepare for steel-price showdown

By: Terence Creamer     21st February 2006 Lawyers and experts for gold-miners Harmony and DRDGold are finalising their arguments ahead of a Competition Tribunal hearing into their allegations that South Africa's leading steel producer, Mittal Steel, is engaging in “excessive pricing” in the domestic market. The hearings,... 

Mittal SA expected to post slightly stronger year earnings

By: Liezel Hill     8th February 2006 Indications are that South African steelmakers saw a reasonably strong December quarter and stable 2005 financial year, despite lower international steel prices and rising input costs. Highveld Steel and Vanadium, currently the object of a bidding war between a number of international players,... 

New PoA sheds little light on input-pricing issue

By: Terence Creamer     2nd February 2006 Government has confirmed that it is intensifying consultations with stakeholders regarding the continued use by key primary sectors, particularly the metals and chemicals, of the controversial import-parity pricing (IPP) mechanism 

First tender for stadium seating attracts interest

By: Helene Le Roux     27th January 2006 The local manufacturing industry has received the first enquiries for spectator seating at the 2010 soccer World Cup, which will be hosted in South Africa. 

Cabinet backs plan to end import-parity pricing

By: Terence Creamer     27th January 2006 The South African Cabinet resolved late last year to pursue a policy that seeks to phase out the controversial practice of import -parity pricing (IPP), employed by a number of large resources-linked businesses, most notably the steel sector. 

'Mbeki should announce phase out of import-parity pricing'

By: Liezel Hill     26th January 2006 Industrial development corporation (IDC) chief economist Lumkile Mondi said yesterday that he hopes to see a “bold” announcement on the phasing out of import-parity pricing (IPP) to emerge from President Thabo Mbeki's State of the Nation address, taking place next Friday. 

Catalytic-converter growth to boost pipe and tube industry

By: Laura Tyrer     20th January 2006 The Southern Africa Stainless Steel Development Association (Sassda) views the current threat to the South Africa’s catalytic converter industry as a potential opportunity for growth, provided that sufficiently-attractive incentives are offered to raise the substantial investment that this... 

Cabinet backs plan to end import-parity pricing

By: Terence Creamer     17th January 2006 The South African Cabinet resolved late last year to pursue a policy that seeks to phase out the controversial practice of import -parity pricing (IPP), employed by a number of large resources-linked businesses, most notably the steel sector. It is understood that the decision will be... 

Downstream users say Columbus' cutbacks have hurt

By: Terence Creamer     9th December 2005 South African stainless-steel producer Columbus has blamed an inventory build-up, lower world prices, a semifinished-product glut, dampened domestic demand on the back of a stronger domestic currency and delays in key public-infrastructure projects for some significant cutbacks in the second half... 

Steel merchant hits back at excessive-pricing claim

By: Terence Creamer     9th December 2005 South African steel merchant Macsteel has strongly countered allegations by barbecue manufacturer Cadac - carried in the November 4-10 edition of Engineering News - of unfair and discriminatory pricing in the domestic market. 

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