R/€ = 18.26 Change: -0.07
R/$ = 16.14 Change: -0.08
Au 1783.47 $/oz Change: 13.77
Pt 936.31 $/oz Change: -8.19


Mittal confirms July steel-price increase

By: Terence Creamer     2nd June 2006 Africa's largest steel producer, Mittal Steel South Africa, has denied industry reports that it had implemented a broad-ranging steel-price increase earlier this week, but confirmed that prices had increased on the equivalent of 11% of its flat-steel product line as from June 1 and that a broader... 

Bright future for local stainless steel

By: Matthew Hill     2nd June 2006 Attractive opportunities if problems are overcomee. The South African stainless steel industry is alive and well, boasting a promising future, South African Stainless Steel Development Association (Sassda) MD Dr Oliver Damm tells Engineering News in an exclusive interview. However, he reports... 

Automotive sector to grow stainless steel consumption

By: Matthew Hill     2nd June 2006 The Department of Trade and Industry (DTI) is currently reviewing its Motor Industry Development Program (MIDP), and plans to have the review process completed by the end of the year. 

Stainless steel vendor unveils empowerment deal

By: Matthew Hill     2nd June 2006 One of South Africa’s biggest stockists and distributors of stainless steel and metal products, Euro Steel, has sold a 25,1% stake of its business to the black economic-empowerment (BEE) group, Isitali consortium, for an undisclosed amount. 

Flexible-couplings industry needs foreign investment

By: Matthew Hill     2nd June 2006 The automotive industry is reportedly the biggest consumer of stainless steel in South Africa, mostly using the wear-resistant steel for catalytic converters. 

‘Empowerment is of utmost importance’

By: Matthew Hill     2nd June 2006 Broad-based black economic empowerment (BBBEE) is of utmost importance in addressing transformational challenges in the stainless steel industry, says Kulungile Metals group marketing executive director Shima Nokaneng in an exclusive interview with Engin-eering News. 

Call for entries for stainless steel awards

2nd June 2006 Both individuals and companies are urged to enter the 2006 Stainless Steel Awards, the industry association emphasises. 

Stainless steel advocated for infrastructure investments

2nd June 2006 With South Africa gearing up for the FIFA Soccer World Cup in 2010, and the government committed to major infrastructural capex, the Southern African Stainless Steel Development Association (Sassda) is advising specifiers and consultants on the benefits of using stainless steel in many visible... 

30% growth for consumerware sector

2nd June 2006 The stainless-steel consumerware sector has recorded a phenomenal growth of 30% for the 2005-2006 period, far exceeding the projected growth rate of 10%, says Southern African Stainless Steel Development Association’s (Sassda) Lesley Mortimer. “With the international trend towards... 

Local stainless industry forges East African ties

2nd June 2006 The Southern African Stainless Steel Development Association (Sassda) recently hosted an inward-bound mission from East Africa “to facilitate business deals with East African companies,” says spokesperson Lesley Mortimer. 

Adding value through experience

2nd June 2006 Reportedly one of South Africa’s leading suppliers of stainless steel and special alloys Multi-Alloys, established in 1997, has a strong focus adding value for customers. “As a supplier of niche products to a diverse range of industries, adding value can be best achieved through our... 

Mittal denies retrenching 800 SA workers

1st June 2006 Steel producer Mittal Steel South Africa on Thursday denied what it termed as “factually inaccurate" media reports stating that it would be retrenching 800 employees. 

SA steel group intent on containing costs, expanding output

By: Nelendhre Moodley     1st June 2006 Steel producer Mittal Steel South Africa has accepted 800 applications from employees across its operations to form part of a voluntary-severance process, designed to reduce costs and raise efficiency levels. The company also denied what it termed “factually inaccurate” media reports,... 

Macsteel enters fray as steel-price hearing focuses on possible remedies

By: Terence Creamer     31st May 2006 Publicity-shy steel trader Macsteel has been thrust headlong into the heart of the ongoing excessive-pricing complaint, currently the subject of an intense and adversarial Competition Tribunal hearing process under way in Tshwane. The company is a 50% shareholder, with Mittal Steel South Africa,... 

Auto, packaging and construction sectors underpin demand

By: Terence Creamer     26th May 2006 Domestic steel demand recovered materially in the first three months of the year and South Africa’s largest steel producer, Mittal Steel South Africa, remains optimistic of continued strength. 

Global crude steel production 6% up on last year

19th May 2006 World crude steel production for the 62 countries reporting to the International Iron and Steel Institute was 99-million tons in April. 

Tribunal to hear argument for new steel-price remedy

By: Terence Creamer     18th May 2006 The Competition Tribunal, which is conducting hearings into a complaint referred by Harmony Gold and DRDGold into alleged excessive pricing and inducement abuse by Mittal Steel South Africa, will, on May 31, hear the application for the amendment of the complaint. 

Retrenchments dull Mittal Steel SA's headline earnings

12th May 2006 South Africa's largest steel producer Mittal Steel South Africa said that its headline earnings for the quarter ended March 31 are down when compared to the previous quarter, partially as a result of voluntary retrenchments. The March quarter earnings, at R684-million, are 21% down. In addition,... 

Mittal, government meet to revive stalled pricing talks

By: Terence Creamer     12th May 2006 Trade and Industry Minister Mandisi Mpahlwa and Mittal Steel South Africa CEO Davinder Chugh met this week in a bid to revive stalled talks relating to the formulation of a so-called 'developmental pricing model'. Speaking at the release of lower first-quarter results, Chugh confirmed the meeting... 

Macsteel International targeted as steel-price hearing nears climax

By: Terence Creamer     11th May 2006 Gold-miners Harmony and DRDGold have submitted an amended application to the Competition Tribunal, in their complaint against Mittal Steel South Africa, which effectively calls for the dismantling of the Macsteel International joint venture between Mittal and Macsteel. 

Industry experts debate the steel-cycle outlook

By: Terence Creamer     28th April 2006 One of the many interesting pieces of insight to emerge from the ongoing Competition Tribunal hearing into alleged excessive pricing by Mittal Steel South Africa has been expert testimony relating to the outlook for the steel-price cycle. 

IDC financier set to test the limits of the risk-reward relationship as it seeks to facilitate shared growth

By: Terence Creamer     21st April 2006 The public persona of State development financier, the Industrial Development Corporation (IDC), rose to prominence in the national consciousness on March 5, when ‘Tsotsi’, a feature-length movie partly sponsored by the bank, was awarded the Oscar for the best foreign-language film.... 

Indian company transfers its man in Nigeria to Zimbabwe

By: Keith Campbell     21st April 2006 Global Steel Holdings Ltd (GSHL) has appointed Lalit Kumar Sehgal as the new CEO of the Zimbabwe Iron and Steel Company (Zisco). 

While testimony has raised some serious issues, the challenge lies in finding an appropriate remedy

By: Terence Creamer     14th April 2006 While there appears to be genuine concern on the part of Competition Tribunal members about what could be perceived to be anticompetitive behaviour by South Africa’s largest steel producer, Mittal Steel South Africa, there is also undoubted anxiety about what, if any, remedy would be... 

Indian steel company in $400m Zimbabwe steel deal

By: Keith Campbell     14th April 2006 INDIAN company Global Steel Holdings has recently added the Zimbabwe iron and Steel Company (Zisco) to its portfolio. 

Excessive pricing about level not process - Mittal witness

By: Terence Creamer     10th April 2006 Excessive pricing is about the “level” of prices, not the “process” by which a firm set its prices, Dr Mike Walker, vice president of CRA International, testified at the Competition Tribunal in Tshwane yesterday. 

Are we right body to set steel prices, tribunal asks

By: Terence Creamer     7th April 2006 There are few examples globally of competition authorities presiding over excessive-pricing complaints and, for that reason alone, the Competition Tribunal hearing convened to consider a complaint of alleged excessive pricing and inducement abuse by Mittal Steel South Africa is likely to receive... 

Mittal expert acknowledges peculiarity of SA steel pricing

By: Terence Creamer     4th April 2006 A steel-industry expert called by Mittal Steel South Africa to give testimony before the Competition Tribunal acknowledged on Tuesday that he had not come across another market internationally where import-parity pricing (IPP) was employed as the basis for setting domestic steel prices. 

Market unfazed by steel-price fight

By: Terence Creamer     3rd April 2006 The market's muted reaction to developments and statements being made at the ongoing Competition Tribunal hearing into alleged excessive pricing and inducement abuse by Mittal Steel South Africa, appears to be based on a belief that the tribunal, as one analyst put it, simply “does not have... 

Competition Tribunal delves into steel group's complex system of price setting and rebates

By: Terence Creamer     31st March 2006 On the fourth day of the ongoing Competition Tribunal hearing into alleged excessive pricing and inducement abuse by the steel giant, Mittal Steel South Africa, chairperson Dr David Lewis went right to the heart of the matter in his questioning of a key witness. 

Disagreement all round

By: Terence Creamer     31st March 2006 What will a scaled-up electricity-generation investment plan mean for future prices? This question, no doubt, is weighing heavily on the minds of officials at State utility Eskom, the National Energy Regulator of South Africa (Nersa) and those private enterprises deliberating energy-based... 

'Mittal would earn fair returns on export prices'

By: Terence Creamer     31st March 2006 Steel producer Mittal Steel would be profitable and earn returns comfortably above its total costs if it charged the equivalent of an export price to all its customers, domestic or foreign, gold-miners DRDGold and Harmony contend. In testimony to the Competition Tribunal on Friday, Prof Simon... 

'Price system, not merchant margins at root of high steel prices'

By: Terence Creamer     30th March 2006 The argument that the margins enjoyed by South African steel merchants might be as much to blame for South Africa's high steel prices as Mittal Steel South Africa's pricing policies, was challenged on Thursday by an expert witness for Harmony and DRDGold, who argued that the pricing system... 

Mittal expansion not premised on export-price viability

By: Terence Creamer     30th March 2006 The decision to raise steel production from Mittal South Africa's mills by two-million tons over the next few years was premised on a de-bottlenecking exercise and on a desire to create greater operational flexibility, the steel producer's first witness to take the stand at the Competition... 

Cabinet backing for phase-out of import-parity pricing confirmed

By: Terence Creamer     29th March 2006 Trade and Industry Minister Mandisi Mpahlwa on Wednesday clarified the contents of a much-debated Cabinet memorandum relating to import-parity pricing (IPP). 

Are we right body to set steel prices, tribunal asks

By: Terence Creamer     25th March 2006 The pressure of presiding over South Africa's first excessive-pricing complaint was apparent for all to see on Friday, when Competition Tribunal members began raising questions over jurisdiction and the appropriateness of their intervention in the setting of a new steel-price regime. The hearing... 

Import-parity pricing not world steel-industry norm - expert witness

By: Terence Creamer     22nd March 2006 The peculiarity of employing import-parity pricing (IPP), or even a basket of international domestic prices, as the basis for computing domestic steel prices in the South African market, came to the fore on Wednesday at the Competition Tribunal hearing, which has been convened to hear a complaint... 

Mittal's complex rebate system probed at hearing

By: Terence Creamer     20th March 2006 Mittal Steel South Africa's convoluted and complex system of price rebates and discounts again came under the spotlight on Monday at the Competition Tribunal hearing being held to consider a complaint of alleged excessive pricing and inducement abuse by the steel giant. The case was referred... 

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