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Steel

Steel is an alloy of iron and carbon, typically containing less than 2% carbon along with other elements such as manganese, chromium, nickel and molybdenum, and is one of the world's most important industrial materials. The addition of carbon and other alloying elements gives steel superior strength, durability and versatility compared with pure iron, making it essential for construction, manufacturing, transport and infrastructure. Steel production involves either the basic oxygen furnace method, which uses iron ore and coke, or the electric arc furnace route, which recycles scrap steel. Major steel-producing regions include China, which accounts for more than half of global output, India, Japan, the United States and the European Union. The steel industry is a significant consumer of iron ore, coking coal and energy, and its performance is closely tied to construction activity, automotive manufacturing and capital investment cycles. Steel is traded globally both as a finished product in forms such as rebar, plate, coil and structural sections, and as semi-finished products including billets and slabs. Pricing is influenced by raw material costs, energy prices, demand from key sectors and trade policies including tariffs and quotas. The industry faces ongoing challenges related to overcapacity, environmental regulation and the transition to lower-carbon production methods such as hydrogen-based steelmaking. Steel remains a bellwether for economic activity and industrial development worldwide.

Latest Articles in 60 Seconds

South Africa mulls emergency tariff hikes to save steel sector

The International Trade Administration Commission has gazetted proposed customs duty increases to World Trade Organisation bound rates, rebate provisions and an import-permit system to counter what chief commissioner Ayabonga Cawe calls an "emergency situation" of global overcapacity and cheap Chinese and Indian imports. South African crude steel output has roughly halved since 2005, with basic iron and steel jobs down from over 50 000 in 2009 to under 25 000 by end-2025; Parliament's trade portfolio committee is pushing for a State-led revival strategy, including localisation, procurement rules and electricity and rail-freight fixes.

Domestic mills squeezed by import surge and weak demand

South Africa's crude steel output slumped to 4.5-million tonnes in 2025, with imports up 11.8% in January 2026 and long product imports up 151%, according to Elco Steel director Franco D'Arrigo, who says tariffs are needed to force local sourcing while flat construction and manufacturing investment continues to depress demand. The South African Iron and Steel Institute warns the decline is now structural rather than cyclical.

EU tightens import quotas as green steel rollout stalls

The European Commission has cut annual duty-free steel import quotas by 47% to 18.3-million tonnes and introduced a 50% out-of-quota duty on 26 product categories to shield its industry from overcapacity. Separately, the World Steel Association warns half of planned green-steel projects face delays, with governments committing only $20-billion of the $1.5-trillion needed, leaving the sector on track for just 70-million tonnes a year of green steel by 2030 against about two-billion tonnes of total output.

Steel Updates


Seifsa president Mervyn Naidoo, who is also Actom CEO
Gap between policy intent and action must be closed to halt deindustrialisation
10th July 2026 By: Terence Creamer

Steel and Engineering Industries Federation of Southern Africa (Seifsa) president Mervyn Naidoo has called on government to urgently close the prevailing gap between its stated commitment to... 


Tariff stamp
Latin American countries, some steelmakers argue for US tariff exemptions
8th July 2026 By: Reuters

Several Latin American countries said on Tuesday they are working to prevent the import of goods produced with forced labor, urging the Trump administration to exempt them from proposed new US... 


South African Iron and Steel Institute secretary general Charles Dednam
Opinion: South Africa’s steel debate is still too narrow
7th July 2026

In this article, South African Iron and Steel Institute secretary general Charles Dednam writes that South Africa must look beyond only the volumes of steel being imported into the country and... 


GREEN DEFERRED: The World Steel Association has warned that about half of the world's planned green-steel projects have been delayed, while governments have committed just $20-billion of the $1.5-trillion needed to decarbonise the sector. It added that the current global project pipeline is set to deliver only about 70-million metric tons of green steel yearly by the end of the decade, a fraction of the roughly two-billion tons of total steel production forecast for the same date. Photograph: Bloomberg
GREEN DEFERRED
3rd July 2026

The World Steel Association has warned that about half of the world's planned green-steel projects have been delayed, while governments have committed just $20-billion of the $1.5-trillion needed... 


IMPORTS TARGETED
Rebate provisions will also allow duty-free imports of steel products not manufactured locally, including certain rails, wire rods, pipes and heavy structural steel
Crisis prompts tariff hikes, calls for State-led revival plan
3rd July 2026

South Africa’s steel industry is facing an “emergency situation” driven by global overcapacity, surging low-cost imports and collapsing domestic production, which has led to government and... 


FRANCO D'ARRIGO
The steel industry is looking towards implementing alternative, sustainable and consistent energy practices as State-owned power utility Eskom is an inconsistent energy producer
Producer relies on forecasting, localisation to mitigate challenges
3rd July 2026 By: Keabetswe Shilakwe

Global overcapacity and price concerns are rattling South Africa’s steel sector, as flat domestic demand on stalled construction investment and a structural surge in cheap steel imports erode local... 


Steel coil
EU unveils new steel import quotas to protect its industry from overcapacity
30th June 2026 By: Reuters

The European Commission unveiled quotas under the new system to limit duty-free steel imports into the European Union, in a move designed ‌to protect the bloc's steel sector and increase its... 


BMI lower 2026 steel price forecast, owing to weaker demand
26th June 2026 By: Schalk Burger

Market research and analysis company BMI has lowered its 2026 forecast for the global steel price slightly to $620/t, down from $625/t in its previous forecast, owing to weaker expected steel... 


Kolomela iron-ore mine in South Africa
Iron-ore heads for seventh weekly loss on swelling inventory, falling steel demand
26th June 2026 By: Reuters

Iron-ore prices fell on Friday and were headed for a seventh straight weekly loss, weighed down by swelling portside inventory and faltering steel consumption in top consumer China, as well as... 


South African steel sector at deindustrialisation ‘inflection point’
South African steel sector at deindustrialisation ‘inflection point’
26th June 2026 By: Terence Creamer

The South African steel industry – encompassing the full value chain, from upstream producers to downstream manufacturers and fabricators – has been described as being at a deindustrialisation... 


Electricity and Energy Minister Dr Kgosientsho Ramokgopa
Ramokgopa to seek Cabinet approval soon to extend tariff discounts to more industries
26th June 2026 By: Terence Creamer

Electricity and Energy Minister Dr Kgosientsho Ramokgopa has indicated that he intends approaching Cabinet in the coming weeks to seek approval to extend concessional electricity tariffs similar to... 


Vedanta's aluminium smelter in India
Vedanta completes historic demerger, lists four new companies in India
25th June 2026 By: Marleny Arnoldi

Global diversified miner Vedanta Group has passed a defining milestone in Indian corporate history with the successful listing of four newly demerged companies on the Bombay Stock Exchange and... 


Seifsa president Mervyn Naidoo, who is also Actom CEO
Gap between policy intent and action must be closed to halt deindustrialisation
24th June 2026 By: Terence Creamer

Steel and Engineering Industries Federation of Southern Africa (Seifsa) president Mervyn Naidoo has called on government to urgently close the prevailing gap between its stated commitment to... 


Rio Tinto's Gudai Darri iron-ore mine
Iron-ore nears four-month low on prospects of rising supply, tepid demand
23rd June 2026 By: Reuters

Iron-ore prices extended declines on Tuesday to hit a nearly four-month low, weighed down by prospects of rising shipments from major suppliers in the run-up to the end of the second quarter and... 


Coal processing plant in Russia
India pivots to Russian crude and coal to mitigate Iran war fallout
23rd June 2026 By: Reuters

India has swung to buying Russian crude oil and coal to bolster its energy supplies after flows were disrupted and prices rose during the Iran conflict. The world's third-largest oil importer is... 


A generic image of metal waste
Objections over price preferential system casts spotlight on sustainability of informal metal recyclers
22nd June 2026 By: Lumkile Nkomfe

Industry organisations the Recycling Association of South Africa (Rasa) and the Metal Recylers Association (MRA) have called on Trade, Industry, and Competition Minister Parks Tau, the... 


Mine truck on coal heap
China coking coal prices extend loss on prospects of rising supply
22nd June 2026 By: Reuters

China's coking coal futures prices extended their decline on Monday, weighed down by prospects of rising supply amid continued production resumption after a deadly mine accident in coal-rich Shanxi... 


A generic image of steel coils
More engagement would have strengthened new Industrial Development Strategy, Seifsa says
19th June 2026 By: Lumkile Nkomfe

Industry association the Steel and Engineering Industries Federation of Southern Africa (Seifsa) has welcomed the recent launch by the Department of Trade, Industry and Competition (dtic) of South... 


Pembroke coal exports
China's coking coal imports set to rise as Shanxi mine disaster hits supply, traders say
19th June 2026 By: Reuters

China's imports of coking coal, a steelmaking ingredient, are set to rise further this year after a fatal mine accident reduced domestic supply, traders said. Chinese importers have turned to... 


An image of steel construction in progress
Steel shortage, tariffs drive up costs
19th June 2026 By: Nadine Ramdass

The gap in local supply of lighter long steel products, following the closure of steel producer ArcelorMittal South Africa’s Newcastle Works in November last year, compounded by tariffs, has... 


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pqt: 0.18s - ct: 0.243s - 286pq - 2rq
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