R/€ = 14.09
R/$ = 11.05
Au 1240.95 $/oz
Pt 1267.50 $/oz
Sep 22, 2014
Chinese steel and iron-ore futures slid 4% to their lowest on record on Monday, plagued by worries about excess supply at a time when demand for both in the world's top consumer is growing at a slower pace. Losses in commodities were broad-based, with oil and copper...
Jul 11, 2014
Steel producer ArcelorMittal South Africa (AMSA) says it is operating in a challenging global steel market, which has been exacerbated by a subdued local market, with low sales volumes and competition from imports, particularly finished goods. “Therefore, we have...
Feb 28, 2014
Steel distributor BSi Steel reports that it has fulfilled its aim of reaching growth of 28% in 2013. “Although South Africa’s steel consumption declined by at least 6% in the domestic steel market, BSi Steel has been on a sustained growth drive, which has resulted in...
Jan 10, 2014
Industry body, the Steel and Engineering Industries Federation of South Africa (Seifsa), has expressed concern over the relapse of slower growth in the metals and engineering sector in the last quarter of 2013, with only a 2% increase over the last three months of...
Aug 27, 2013
South African steel producer Evraz Highveld – whose stock has come under sustained pressure since the release of an interim-results statement last Thursday in which doubts were raised about the company’s ability to continue as a going concern – reports that “daily...
Jul 12, 2013
AN OVERVIEW OF THE LOCAL STEEL INDUSTRY “Volatile times are the norm for the South African steel distribution business” says Derek Franks, Director of the company. “Steel merchants have had to contend with unstable steel prices for several years as well as unreliable...
Jul 12, 2013
US-based laser-cutting and engraving systems manufacturer Kern Laser Systems’ new HSE 150 W and HSE 400 W laser systems can be equipped with technology that enables the laser systems to accurately cut sheet metals made from stainless steel, mild steel, aluminum and...
Mar 01, 2013
Several years of decline in the South African steel industry will come to an end by way of a moderate recovery in steel production over the coming years, forecasts global professional services firm KPMG industrial, automotive and pharmaceutical director Anthony...
Aug 31, 2010
Jul 09, 2010
Jun 21, 2010
May 21, 2010
Nov 20, 2009
South African steel producer Highveld Steel & Vanadium on Friday reported a net loss of R41-million for the quarter ended September 30, 2009, compared with a net profit of R642-million the year before. Its revenues fell by more than half to R3-billion, compared with...
Nov 20, 2009
The South African International Steel Fabricators (ISF) Council reports that it will modify its focus in 2010 to gain a more significant share of the global steel market, says ISF director Neels van Niekerk.
Sep 25, 2009
The manufacturing and processing division of Aveng - more specifically, Trident Steel - marred what was an otherwise solid performance from the JSE-listed construction group in the financial year ended June 30.
Jul 13, 2009
South Africa's second-largest steel producer Highveld Steel & Vanadium would join its larger rival, ArcelorMittal South Africa, in raising steel prices as from the start of August, having refrained from doing so in July. Engineering News Online has learned that...
Jun 01, 2009
South African trade union Solidarity issued a statement of condemnation of the planned retrenchment of nearly 300 of the 2 500 workers at Highveld Steel & Vanadium (Hiveld), based in the Mpumalanga province, arguing that the action was inappropriate given signs of a...
May 29, 2009
May 28, 2009
South Africa’s second-largest steel producer Highveld Steel & Vanadium (Hiveld) reported on Thursday that it had initiated retrenchment negotiations with its unions and that it expected the process would be completed within three months. The company gave no...
Mar 13, 2009
South Africa’s second largest steel producer Highveld Steel & Vanadium (Hiveld) said on Friday that the outlook for the steel market in 2009 remained “concerning” and that its board had, therefore, decided not to declare a final dividend in the interests of cash...
Feb 27, 2009
Steel producer ArcelorMittal South Africa – whose board had previously provided “in principle” backing for a brownfield expansion of its long-product-focused Newcastle mill, in Kwazulu-Natal – had not merely delayed the R3-billion project in light of the rapid...
Feb 16, 2009
JSE-listed iron-ore producer Kumba Iron Ore (KIO) on Monday reported that attributable profit and headline earnings for the year ended December 2008, had more than doubled, despite the volatility in the global economy. Attributable profit for the year grew to...
Nov 21, 2008
Southern African Institute of Steel Construction (SAISC) executive director Dr Hennie de Clercq says that the world construction industry is in the early part of a multidecade boom.
Nov 14, 2008
Africa’s largest steel producer, ArcelorMittal South Africa, which reported record third quarter results last week, will cut its production by 30% for the remainder of the year and for the first quarter of next year as the domestic steel market entered a “perfect...
Nov 07, 2008
Canadian miner Iamgold expects demand for niobium to remain strong, despite a softening steel market, COO Gordon Stothart said on Thursday. Iamgold produces the metal, which is used in specialty high-strength steels, at the Niobec mine, in Quebec.
Nov 05, 2008
Nov 05, 2008
Africa's largest steel producer, ArcelorMittal South Africa, which reported record third-quarter results on Wednesday, will cut its production by 30% for the remainder of the year and for the first quarter of next year as the domestic steel market entered a "perfect...
Oct 28, 2008
Cliffs Natural Resources will temporarily idle three pellet furnaces in Minnesota, in response to slumping demand for the steelmaking ingredient. “The curtailments were necessary to bring production levels in line with demand,” Cliffs said in an emailed statement.
Oct 24, 2008
Since the implementation of China’s economic reform policy 30 years ago, the country has managed to lift an astounding 500-million people out from poverty into the middle class, boasting a current unemployment figure of between 10% and 15%, and a private sector that...
Oct 17, 2008
The financial-market events of the past couple of months have shaken many of market commentators and economists to the very core. They have also raised a number of questions: Why has a crisis associated primarily with a housing bubble in the US morphed into a global...
Jul 11, 2008
The steel industry could play a bigger role in South Africa’s Accelerated and Shared Growth Initiative for South Africa (Asgisa) if Government can encourage more beneficiation in the local market, reports Auditing, Tax and Advisory firm KPMG.
Jun 02, 2008
AltX-listed steel group BSI, which on Monday reported a fourfold increase in full-year earnings, said it remained focus on organic growth and increasing its market share, but that it was also on the lookout for acquisitions to diversify. In a statement accompanying...
Feb 29, 2008
After achieving its second best financial year in the company’s history in 2007, steel producer Highveld Steel & Vanadium has a positive outlook for the year ahead.
Feb 01, 2008
The country’s largest steel producer, ArcelorMittal South Africa, confirmed on Friday that it would increase the prices of its flat steel products by 10% and long steel products by 12% as of March 1. Explaining the motivation behind the price hike, spokesperson...
Apr 23, 2007
AIM-listed offshore investment company Blackstar Investors (Blackstar) on Monday announced the acquisition of Kulungile Metals Group (KMG) through a leveraged buy-out, alongside management and black staff.
Mar 02, 2007
In 2006, world crude steel production reached it’s highest level of output in world history.
Dec 08, 2006
Lawyers defending Mittal Steel South Africa against allegations of excessive pricing and inducement abuse were able to introduce a new element to the case during closing arguments, which took place in Tshwane last week. Advocate Chris Loxton, who leads a team...
Jul 27, 2006
South Africa's second-largest steel producer and the world's largest vanadium producer announced a sharp fall in headline earnings to R401-million for the six months to June 30, compared with its record R1-billion for the corresponding period last year.
Jul 14, 2006
The current buoyant market conditions in steel are expected to continue into 2006, according to industry and government officials, meeting at a Paris conference organised by the OECD and the International Iron and Steel Institute last year.