Last year was generally challenging for both the domestic and global economy, as weakening demand, manufacturing and trade and investment restrained progress, with extended negative implications for the metals and engineering (M&E) sector, which is poised for “unremarkable” growth this year.
The opposition Democratic Alliance (DA) has written a letter to Trade and Industry Minister Ebrahim Patel calling on him to brief lawmakers about developments at steel group ArcelorMittal South Africa (AMSA), which recently warned of additional job cuts at the company.
The outbreak and contagion of a new strain of the coronavirus – which began in the Chinese city of Wuhan in December – has contributed to renewed concerns over economic growth prospects, particularly in China.
Gobal crude steel production increased by 3.4% year-on-year to 1.87-billion tonnes in 2019, despite output having contracted in all regions, except Asia and the Middle East, industry association, the World Steel Association (worldsteel), reports.
South African miner Samancor Chrome said it could cut close 2 500 jobs in response to weak chrome prices and power supply problems, according to a letter to unions seen by Reuters on Wednesday
The promoters of liquefied natural gas (LNG) import terminals at Maputo, in Mozambique, and Richards Bay, in South Africa, insist that the two proposed projects can be complementary rather than competitive as there is sufficient existing demand and growth potential in the region to support both initiatives.
the Department of Trade, Industry and Competition (DTIC) has received expressions of interest from two parties that may want to buy the Saldanha Steelworks from ArcelorMittal South Africa (AMSA).
International oil major Total and Southern African gas infrastructure developer Gigajoule signed a joint development agreement (JDA) on Wednesday for the importation of liquified natural gas (LNG), through the Matola harbour, in Maputo, Mozambique, from the end of 2022 onwards.
South Africans have yet to grasp both the scale of the gas resources uncovered in neighbouring Mozambique and the size of the business and energy opportunities these discoveries present.
Steel producer ArcelorMittal South Africa (AMSA) has decided to undertake an orderly and commercial wind-down of steel operations at its Saldanha Works, with the intent to place the operation on care and maintenance.
The Mpumalanga Stainless Initiative (MSI) and the Small Enterprise Development Agency (Seda) have launched the Mpumalanga Informal Welders Recruitment Programme.
Steel and Engineering Federation of Southern Africa (Seifsa) president Elias Monage has called for greater decisiveness on the part of the South African government in both defining which manufacturing sectors it intends supporting, as well as in enforcing local-content rules and legally determined trade protection measures.
World crude steel production was 156-million tonnes in August, which was a 3.4% increase compared with August last year.
South African mining output increased for the first time in nine months in July as coal and iron-ore production surged.
Mining production rose 2.4% from a year earlier compared with a revised 4.1% decline in June, Pretoria-based Statistics South Africa said in a report on its website Thursday. The median estimate of five economists in a Bloomberg survey was for a 1% increase.
South Africa’s gross domestic product (GDP) expanded by 3.1% in the second quarter of the year.
This follows on the 3.1% contraction recorded for the first quarter.
On a year-on-year basis, GDP expanded by 0.9%.
Statistics South Africa head and statistician-general RisengaMaluleke on Tuesday announced that the mining industry had made a significant contribution to GDP growth in the second quarter. The mining industry grew by 14.4% quarter-on-quarter, contributing one percentage point to GDP growth.
Global crude steel production by the 64 countries reporting to the World Steel Association (worldsteel) increased by 1.7% year-on-year to 156.6-million tonnes in July.
The steel industry is suffering a bad headache as benchmark hot-rolled coil prices have fallen 38% from their peak in 2018.
The promoters of a proposed stainless and alloy steels plant in the Eastern Cape believe that the greenfield development could support the creation of new jobs in the domestic mining and steel industries.
Owing to the global economic crisis which started in late 2008, a structural break occurred in the metals and engineering (M&E) sector, which had hitherto recorded the highest production figure of almost 120 index points, says the Steel and Engineering Industries Federation of Southern Africa (Seifsa) chief economist Dr Michael Ade.
Within the next 100 days, the Department of Trade, Industry and Competition intends launching a support programme for new plant and equipment in metal fabrication.
Chicago, 23 May 2019 – The International Stainless Steel Forum (ISSF) has announced the winners of the Gold, Silver and Bronze Awards in the categories New Technology and New Development during their 23rd conference (ISSF-23) which was held Chicago.
Global crude steel production for the first quarter of this year increased by 4.5% year-on-year to 444.1-million tonnes, global industry body, the World Steel Association(worldsteel), said in a statement on Monday.
Global steel demand is expected to increase by 1.3% year-on-year to 1.74-billion tonnes this year, the World Steel Association’s (worldsteel’s) ‘April 2019 Short Range Outlook’ shows.
The demise of State power utility Eskom has caused South Africa to lose its optimal position in the lucrative ferrochrome business.
Because of Eskom’s decline, unbeneficiated chrome ore exports from South Africa to China have enabled the Asian giant to ascend up the ferrochrome production ladder.
HIS drive to offer a solution to the energy crisis that the world is facing is what inspired Arnold Nyendwa to come up with an innovation called the Juvin Stainless Steel Cooking unit.
A cooking unit whose names he coined after his parents Justina and Vincent (Juvin) is able to perform seven functions namely: cooking, baking, frying, drying, roasting and warming, using less fuel such as charcoal.
The metals and engineering sector is set to grow for the third consecutive year in 2019, despite the past year having been generally challenging for both the global and domestic economies.
A key issue for day one of the Mining Indaba is that the industry needs to transform to survive — not just in terms of technology, but also in its relationship with communities.
2019 seems to be the year of an ‘opening up’ of Africa, whether it be opening trade borders or opening key infrastructure projects, all of these key developments have positive implications for the South African stainless steel sector.