Menu

Mittal vs The Downstream; steel industry war

The downstream Steel Industry, under siege for decades, is facing its next huge crisis. For many years, ArcelorMittal South Africa (AMSA), South Africa's dominant liquid steel producer, found the South African steel market to be a favourable playing field. For a long time they could keep their input costs low as a result of a preferential supply agreement for iron ore. However, whilst having this lucrative iron ore deal, AMSA charged the South African downstream industry similar prices to what they (AMSA) obtained on international markets. The downstream industry paid high prices for their steel, whilst AMSA made huge profits.

Read more...

Sacrificing the steel industry to save Mittal

The Steel Industry is in troubled waters. There are many indicators to this effect, but job losses is an important one. According to the MEIBC, the Steel Industry has lost 150,000 jobs over the last ten years, of which 40 000 jobs were lost in 2015 and 9,000 in the month of November 2015 alone. The MEIBC is predicting a further 30 000 job losses in the Steel Industry this year.

Read more...
Subscribe to this RSS feed

Industries

About us

Follow us

Follow us @BusinessNewsCT

BusinessNewsCT Capitec pulls ahead to be South Africa’s top bank - https://t.co/SKMjAmL6Rh https://t.co/nY80q8gOz1
16hreplyretweetfavorite
BusinessNewsCT South Africa's most advanced satellite to support Operation Phakisa - https://t.co/lqYzlb3XCr https://t.co/df9CoOmAWA
16hreplyretweetfavorite
BusinessNewsCT Corobrik to spend R800m on 100m-bricks-a-year factory - https://t.co/fdXIl0dbPR https://t.co/2mbfR5URll
16hreplyretweetfavorite