Steel production falls 12.5%

South African steel production fell by 12.5% year-on-year (y/y) in March to an estimated 570‚000 tons after dropping by 16.6% y/y in February to 515‚000 tons‚ according to data from the World Steel Association.

By Helmo Preuss

30 Apr 2013

For the first quarter of the year production was down 11.3% y/y and 18.8% lower than the first quarter 2012.

By contrast‚ China's steel industry‚ which is a major importer of SA iron ore‚ grew by 9.1% y/y in the first quarter to 191.9m tons‚ while the global steel industry expanded production by 2.3% y/y to 388.7m tons.

Last year SA production fell by 5.7% to only 7.12m tons‚ its lowest level since 1980‚ when the World Steel Association began collecting data. This contrasts with a 1.2% rise in global steel production in 2012 after a 8.1% jump in 2011.

In the first quarter this year SA steel production was reduced after a fire at the basic oxygen furnace in ArcelorMittal's Vanderbijlpark plant.

In mid-April ArcelorMittal SA said its basic oxygen furnaces have been recommissioned.

The company said an investigation into the cause of the fire revealed the steel-making facility had been affected by a malfunctioning sensor and controlling computer software.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za