The key to rescuing South Africa’s ailing steel industry, in which a unit of ArcelorMittal South Africa (AMSA) is feuding with smaller competitors, is by growing demand rather than fixating on export controls, the country’s chief trade regulator said.
AMSA last year shut a steel mill, citing competition from so-called mini-mills that use scrap metal as their feedstock rather than iron ore. The company, which still runs Africa’s biggest steelmaking plant south of Johannesburg, has demanded the government end a 20% tax on the export of scrap, which it says reduces the cost of the material for its rivals.
“There’s a bubbling belligerence that says I can only survive by you kind of…
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Lord Pistachio
Fun South African Fact: There are eight incredible world heritage sites in South Africa.
legacy
The difference between the South African football team and a tea bag is that the tea bag stays in the cup