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SA steel production jumps 13.8% in September to 534,000 tons
A rise in June, of 6.9%, was the first annual increase this year and followed a 16.3% rise in to 7.6-million tons in 2015 compared with a 2.8% decline in global steel production to 1.6228-billion tons. In 2015 steel production decreased in all regions except Oceania, which registered a 4.6% gain.
In the first ten months of 2016 SA steel production was down 5.1% year on year compared with an 8.6% decline for Africa and a 0.1% reduction for global steel production. In October global crude steel production rose 3.3% year on year to 136.5-million tons, of which China accounted for 68.5-million tons, which was a 4.0% increase.
The poor South African demand was in part due to the government's multi-billion rand infrastructure investment plans failing to gain traction, as investment in steel-intensive railway corridors such as links to Swaziland and the Waterberg coalfields, remain plans, not projects.
The government's economic cluster said in early September 2016 that steps had been taken to accelerate implementation of the Nine-Point Plan. The cluster was at an advanced stage in preparing for the implementation of 40 "high-impact" investment projects.
In the February 2016 budget, the Treasury outlined plans for R865.4bn in public sector infrastructure spending over the next three fiscal years. The largest portion of R291.6bn would be invested in the steel-intensive transport and logistics sector.
By contrast the private sector has invested heavily in the steel-intensive non-residential construction sector with reports of shortages of steel reinforcing bars.
The real value of non-residential buildings completed soared by 21.6% year on year in the first nine months of 2016 as there were large increases in completions of retail, office and banking space in KwaZulu-Natal, while the centre of Sandton currently resembles one large construction site with several large buildings in the process of being built.
Source: BDpro
Source: I-Net Bridge
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