{"id":59677,"date":"2024-01-17T07:42:49","date_gmt":"2024-01-17T07:42:49","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble"},"modified":"2024-01-17T16:09:40","modified_gmt":"2024-01-17T16:09:40","slug":"south-africas-steel-industry-in-trouble","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble","title":{"rendered":"South Africa\u2019s steel industry in trouble"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Load-shedding and logistics bottlenecks are wreaking havoc on the country\u2019s steel and engineering industry and require urgent intervention.<\/p>\n

This is the view of the Steel and Engineering Industries Federation of Southern Africa CEO Lucio Trentini, who told Newzroom Afrika that the challenges the industry faces have had a disastrous impact.<\/p>\n

Trentini said South Africa\u2019s steel and engineering sector is a strategic and important sector of the country\u2019s economy.<\/p>\n

It consists of around 10,000 companies that employ over 220,000 blue-collar workers. It is a R900 billion sector, and its contribution to GDP is around 3%.<\/p>\n

Trentini said this sector \u201csits smack in the middle of our economy\u201d, as it is a supplier and customer to major sectors like mining, construction and manufacturing.<\/p>\n

\u201cSo when our sector is beset with challenges, those effects are felt right throughout the economy,\u201d he said. \u201cIf this sector is not meeting its true potential, the consequences are felt throughout the economy.\u201d<\/p>\n

Trentini highlighted load-shedding as the \u201cmain growth killer\u201d of the sector in the past two years.<\/p>\n

\u201cWhile positive things are happening at a macro level on the ground, particularly for those companies that don\u2019t have the deep pockets to put in alternative energy sources, it\u2019s really tough, tough days ahead,\u201d he said.<\/p>\n

He said the only way to address these issues is for the private sector to work as closely with the government as possible and enter into public-private partnerships.<\/p>\n

\u201cWe believe by working with the government and their different ministries and departments, we can certainly make a contribution and do what needs to be done on an urgent basis because time is running out,\u201d he warned.<\/p>\n

South Africa\u2019s steel and engineering industry was dealt a massive blow at the end of 2023 when ArcelorMittal South Africa announced that it would shut its long steel products business and cut as many as 3,500 jobs.<\/p>\n

The company said the unit would be placed in care and maintenance and cited the country\u2019s moribund economy for its decision.<\/p>\n

The Newcastle Works, the Vereeniging Works, and rolling facilities, which use Newcastle material as feedstock, will be affected.<\/p>\n

\u201cThe ArcelorMittal South Africa board and management have reached this point after having exhausted all possible options,\u201d CEO Kobus Verster said in a statement.<\/p>\n

\u201cWe have a duty to ensure that the business remains sustainable in the long term, in the interests of the company and its stakeholders.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Load-shedding and logistics bottlenecks are wreaking havoc on the country\u2019s steel and engineering industry and require urgent intervention. This is the view of the Steel and Engineering Industries Federation of Southern Africa CEO Lucio Trentini, who told Newzroom Afrika that the challenges the industry faces have had a disastrous impact. Trentini said […]<\/p>\n","protected":false},"author":84,"featured_media":59676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-59677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nSouth Africa\u2019s steel industry in trouble - South Africa<\/title>\n<meta name=\"description\" content=\"Load-shedding and logistics bottlenecks are wreaking havoc on the country\u2019s steel and engineering industry and require u ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa\u2019s steel industry in trouble\" \/>\n<meta property=\"og:description\" content=\"Load-shedding and logistics bottlenecks are wreaking havoc on the country\u2019s steel and engineering industry and require u ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-17T07:42:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-17T16:09:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1705465400.687706.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Africa\u2019s steel industry in trouble\",\"datePublished\":\"2024-01-17T07:42:49+00:00\",\"dateModified\":\"2024-01-17T16:09:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble\"},\"wordCount\":417,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/01\/sm_1705465400.687706.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-steel-industry-in-trouble\",\"name\":\"South Africa\u2019s steel industry in trouble - 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