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Metals & Engineering News

Norway, EU ask WTO to set up panel on US steel, aluminium tariffs

By: Reuters 19th October 2018 Norway, the European Union and several other countries asked the World Trade Organization (WTO) on Thursday to set up a dispute resolution panel to address US tariffs on steel and aluminium, Oslo's foreign minister said. "We believe that US additional duty on steel and aluminium is contrary to... →

South African mint shines in Africa

By: Natasha Odendaal 19th October 2018 The South African Mint’s (SA Mint’s) master craft and secure manufacturing has made it one of the top preferred manufacturers of coins and coin blanks in the world, and a valuable partner across Africa. The famous producer of circulation and commemorative coins has, on its CV, an impressive list... →

Global steel body hikes demand forecasts, but says risks remain

By: Reuters 16th October 2018 The World Steel Association on Tuesday doubled its 2018 and 2019 forecasts for growth in global demand for the material used in everything from cars to construction, but said that trade tensions were clouding the outlook for the sector. The caution over trade from a body that represents 85% of... →

Seifsa elects ‘most transformed’ board to date

By: Simone Liedtke 15th October 2018 Arabela Holdings executive chairperson Elias Monage has been elected president of the Steel and Engineering Industries Federation of Southern Africa (Seifsa) and chairperson of its board of directors, with effect from October 12. Monage was elected president during Seifsa’s seventy-sixth annual... →

Steel Awards showcase resilience, workmanship in South African steel industry

By: Simone Liedtke 12th October 2018 South African Institute of Steel Construction (SAISC) CEO Paolo Trinchero believes the industry continues to produce “outstanding work, [which] demonstrates its capability and expertise”. Speaking at its yearly Steel Awards function on Thursday evening, he said there was continued perseverance in... →

Seifsa president points to ‘signs of green shoots' for metals sector

12th October 2018 In an address at the Steel and Engineering Industries Federation of Southern Africa’s (Seifsa’s) Presidential Breakfast on Friday, outgoing interim president Alph Ngapo expressed optimism that the political transition, which saw President Jacob Zuma replaced by President Cyril Ramaphosa earlier... →

Connecting international expertise to South African opportunities

By: Shannon de Ryhove 12th October 2018 European alliance partner company GC Top Technologies — an Italian company based in South Africa — aims to connect international suppliers of the best available technologies with South African clients that require improved efficiency, enhanced productivity and environment-friendly solutions. The... →

AMSA seeks growth opportunities in sub-Saharan Africa amid muted domestic steel demand

By: Nadine James 10th October 2018 In light of weak domestic demand, ArcelorMittal South Africa (AMSA) has implemented a strategy to enhance its short-term profitability and cashflow, thereby, ensuring the business’ sustainability and positioning it to exploit growth in the sub-Saharan Africa region, says CEO Kobus Verster. During... →

Photo by ARCELORMITTAL
ArcelorMittal Vanderbijlparjk Works

Trade rules need to address Chinese excess capacity – EU's Moscovici

By: Reuters 10th October 2018 Any rewrite of global trading rules must deal with the issue of excess industrial capacity in China, European Commission Economic Commissioner Pierre Moscovici said on Wednesday. "We absolutely need to address the issue of overcapacities in China. Nobody can say that this is not a problem. This... →

Turkey puts import quotas on steel – WTO filing

By: Reuters 8th October 2018 Turkey will introduce quotas on the amount of steel it imports from Oct. 17, with an additional 25% duty on any imports above the quotas, it said in a filing published by the World Trade Organization on Monday, blaming a surge in imports. It said it had begun investigating the case for emergency... →

Macro disquiet drowns out signs of base metals shortages

By: Reuters 4th October 2018 Uncertainty about how metals demand will be hit by trade wars, rising US interest rates and a slowdown in China is weighing on industrial metals prices, submerging signals pointing to potential shortages. The index of copper and five other top industrial metals traded on the London Metal Exchange... →

Dube TradePort continues to inject billions into local economy, job creation – MEC

By: Simone Liedtke 2nd October 2018 The Dube TradePort, which incorporates the King Shaka International Airport, has in the past ten years invested R11.5-billion into the South African economy and created nearly 100 000 jobs, KwaZulu-Natal Economic Development, Tourism and Environmental Affairs MEC Sihle Zikalala said on Tuesday.... →

China's at 'peak steel' right now, top iron-ore shipper says

By: Bloomberg 2nd October 2018 The world’s largest steel market is about to go into reverse. Production in China will peak in 2018 and then shrink next year as local demand drops, according to forecasts from the Australian government, which says the shift will add to headwinds for core ingredient iron ore. Mainland steel... →

Absa PMI weakens further in September

By: Marleny Arnoldi 1st October 2018 The Absa Purchasing Managers’ Index (PMI) remained virtually unchanged at a weak level of 43.2 points in September. The latest figure dashed hopes that the sharp PMI decline in August – to 43.4 points, down from July’s 51.5 points – was a one-off occurrence. The August figure was already an... →

Company diversifies aluminium offering

By: Erin Steenhoff-Snethlage 28th September 2018 Aluminium composite cladding / material (ACP or ACM) is widely used on building facades internationally, and although very much in its infancy in South Africa, it is slowly gaining traction. It is preferred over painted surfaces due to its colour retention, corrosion resistance and low... →

DESIGN VERSATILITY The aluminium composite material panels allow for versatile facade designs

Manufacturer keeps up with increasingly complex orders

28th September 2018 As manufacturing becomes more specialised, manufacturing companies have to keep up with customers’ changing demands with regards to complexity of manufactured parts as well as functionality and the aesthetic appeal of the product. South African arm of Germany-based metallurgical plant and rolling... →

EXTRUSION The SMS group has expertise in aluminium, copper, copper alloys and steel extrusion

Record-high margins for aluminium sales

By: Erin Steenhoff-Snethlage 28th September 2018 Johannesburg-based precision water-cutting and -profiling company AquaJet Profiles noted record-high aluminium sales profit margins earlier this year, owing to the sanctions placed on Russian suppliers exporting to the US, claims AquaJet Profiles director Preeshan Naidoo. The sanctions were... →

Photo by Reuters
TARIFF SEE-SAW US tariffs have had a positive and negative effect on aluminium profit margins

AMSA to finalise Macsteel sale by Dec

By: Marleny Arnoldi 27th September 2018 Steel producer ArcelorMittal South Africa’s (AMSA’s) shareholders on Thursday approved the sale of AMSA’s 50% indirect interest in Netherlands-based Macsteel International Holdings (MIH) to a subsidiary of Macsteel Holdings Luxembourg for $220-million, or R2.8-billion. AMSA advised that the... →

WTO cuts world merchandise trade forecasts for 2018 and 2019

By: Reuters 27th September 2018 World trade growth is likely to be slower than previously thought in 2018 and 2019, although the direct economic effects of a trade war that has blown up this year have been modest so far, the World Trade Organization (WTO) said on Thursday. The WTO forecast world trade in goods would grow by... →

EU regulators to rule on Thyssenkrupp, Tata Steel venture by Oct 30

By: Reuters 26th September 2018 European Union (EU) antitrust regulators will decide by October 30 whether to allow Germany's Thyssenkrupp and India's Tata Steel to create Europe's No. 2 steelmaker, the European Commission said on Wednesday. The companies unveiled their plan for a steel joint venture in July after two years of... →

Global crude steel production rises 2.6% y/y in August

By: Simone Liedtke 25th September 2018 Global crude steel production increased by 2.6% year-on-year to 151.7-million tonnes in August, the World Steel Association (worldsteel) reports. According to the data, which was released on Tuesday, China’s crude steel production for August was 80.3-million tonnes, an increase of 2.7% compared... →

Africa’s metals, engineering cluster needs to do more to attract investment

By: Marleny Arnoldi 21st September 2018 Steel and Engineering Industries Federation of Southern Africa (Seifsa) chief economist Dr Michael Ade has declared Africa’s metals and engineering sector open for business. Ade was addressing delegates on the second day of Seifsa’s fourth annual Metals and Engineering Indaba, in Johannesburg. →

Seifsa chief economist Dr Michael Ade talks about the need for South Africa's metals and engineering sector to increase its exports throughout Africa, while IFC senior investment officer Paul Mukasa discusses financing in Africa. Video and editing: Darlene Creamer.

AMSA appoints new CFO

By: Creamer Media Reporter 21st September 2018 Avinash Desmond Maharaj has been appointed CFO and executive director of ArcelorMittal South Africa (AMSA), effective October 1. He has a Master’s degree in Finance and is a qualified chartered accountant. →

PSV brings on board two key partnerships to drive strategy going forward

By: Marleny Arnoldi 19th September 2018 AltX-listed industrial holding company PSV Holdings has finalised an equity transaction with Regis Holdings and concluded a broad-based black economic empowerment (BBBEE) partnership with Beryl Holdings Partners. Regis is a Mauritanian-headquartered investment holding company, and Beryl... →

Global steel production, consumption growth to slow – Fitch

By: Tasneem Bulbulia 18th September 2018 Growth in global production and consumption of steel in expected to slow over 2018/19, following a significant rebound since early 2016, Fitch Solutions Macro Research’s recently published ‘Global Steel Outlook’ report states. The global market will post a narrowing deficit of 7.4-million tonnes... →

PIC foresees great opportunity in investing in early stage tech-driven companies

By: Kim Cloete 14th September 2018 The Public Investment Corporation (PIC) has outlined its vision for its recently launched R2-billion fund aimed at early-stage tech-driven companies. PIC executive head of research Sholto Dolamo told a Frost & Sullivan CEO Think Tank, in Cape Town, that the PIC was venturing beyond its... →

India's steel minister wants import duty on coking coal scrapped

By: Reuters 13th September 2018 India's steel minister said on Thursday he wanted the finance ministry to scrap the 2.5% duty on imports of coking coal, a key steelmaking raw material, to limit input costs. "We are pursuing a cut," Chaudhary Birender Singh told reporters. "We want to make it zero. It cannot be 2.5% to 2%." →

Ghana on hook for $2bn China deal if bauxite plan stalls

By: Bloomberg 10th September 2018 Ghana will have to use alternative sources to pay back China’s Sinohydro Corp. for $2-billion in infrastructure if the revenue from an earmarked bauxite project is insufficient to meet installments. Sinohydro agreed to a deal with the West African nation in May to build bridges, roads, hospitals... →

Aveng expects to wrap up noncore disposals by June 2019

By: Terence Creamer 7th September 2018 Embattled construction group Aveng expects to finalise the disposal of all noncore businesses by June 2019. Following a strategic review, the JSE-listed company identified Aveng Trident Steel, Aveng Grinaker-LTA, Aveng Manufacturing, as well as certain properties and other assets, for sale. →

Metals, engineering collective agreement to be submitted for gazetting

By: Simone Liedtke 4th September 2018 Parties to the Metals and Engineering Industries Bargaining Council (MEIBC) have voted in favour of the extension of the three-year agreement reached in the metals and engineering sector in 2017. Steel and Engineering Industries Federation of Southern Africa (Seifsa) operations director Lucio... →

Dinosaurs dominate South African Mint’s 2018 Natura Palaeontology Collection

By: Simone Liedtke 3rd September 2018 The South African Mint on Monday unveiled the five-coin Palaeontology Collection in 24 ct gold. The collection brings to life the ‘archosauria’, which comprise crocodiles, pterosaurs, dinosaurs and birds or the ruling reptiles that roamed and soared freely in Southern Africa about 200-million... →

South African farmers play chicken with Trump tariffs

By: Reuters 29th August 2018 Herman Pretorius is just the kind of white South African farmer US President Donald Trump expressed concern for when he barged into the country's delicate land reform debate by ordering an investigation into the "large-scale killing of farmers". But for the greying, bespectacled 58-year-old,... →

Insimbi acquires Group Wreck for R120m

By: Marleny Arnoldi 28th August 2018 JSE-listed Insimbi Industrial Holdings is acquiring scrap metal recycler Group Wreck International for R120-million. “Insimbi needs to grow by acquiring businesses that complement the existing Insimbi businesses and are accretive to earnings,” said Insimbi CEO Fred Botha. →

Crude steel production, capacity utilisation ratio increase y/y in July

By: Marleny Arnoldi 27th August 2018 Global crude steel production for the 64 countries reporting to the World Steel Association was 154.6-million tonnes in July – a 5.8% year-on-year increase. China contributed 81.2-million tonnes of crude steel in July, a 7.2% year-on-year increase. Japan produced 8.4-million tonnes, which is... →

Ghana opposition seeks IMF view on $2bn Chinese Bauxite deal

By: Reuters 24th August 2018 Ghana's opposition in parliament wants the International Monetary Fund (IMF) to decide whether a $2-billion Chinese deal agreed by the government in exchange for bauxite will add to the country's debt burden, it said on Thursday. Under the deal, approved by Ghanaian lawmakers last month, China's... →

US poultry industry to urge retaliation if South Africa ends quota

By: Reuters 22nd August 2018 The United States poultry industry will press its government to retaliate if South Africa suspends a quota that excludes some US imports from an anti-dumping tariff, the head of a poultry trade group said. The South African Poultry Association (SAPA) has filed a lawsuit seeking to force the... →

Turkey initiates WTO dispute complaint over additional US tariffs

By: Reuters 21st August 2018 Turkey has initiated a dispute complaint with the World Trade Organisation (WTO) against additional tariffs imposed by the US on Turkish steel and aluminium imports, the WTO said on Monday. The move was previously flagged by Turkish officials and comes after President Donald Trump this month said... →

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