Neasa approaches High Court to stop new steel import duties
The National Employers’ Association of South Africa (Neasa) has filed an urgent application in the Gauteng High Court to stop the implementation by the International Trade Administration Commission of South Africa (Itac) of a 10% import tariff and custom duties on coated flat-rolled products.
Neasa, which represents steel downstream companies, says some companies will be severely prejudiced by this development.
The association explains that should this export tax rate be granted, as well as steel manufacturer ArcelorMittal South Africa’s (AMSA’s) application for 120% safeguard duties on certain long products, as well as for the extension of the safeguard duties of 8% on hot-rolled coil, then hot-rolled coil will carry a total duty of 18%.
Neasa CE Gerhard Papenfus says the attempts by AMSA for more protectionist duties amid the current severe backlogs, caused by its inability to supply the market, are absurd.
He adds that the steel manufacturer still posted a R2.6-billion headline loss for the first half of the year, compared with many modern mills that are profitable at the ruling price for steel. “The duties that desecrated jobs in the downstream sector therefore did not achieve anything to save AMSA.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation