The steel industry, like many other sectors, has been navigating a complex and uncertain global economic landscape in recent years. Negative economic developments have had an adverse impact on the industry, with the World Steel Association reporting that global crude steel production decreased by 4.20% in 2022.
Excess capacity in the steel industry is increasing globally, negatively impacting on the health of the industry and its ability to enable economic growth and prosperity. Excess capacity affects steel prices and steel companies’ profitability, slows the green transition and creates trade tensions around the world.
Creamer Media’s Steel 2023 Report examines the global steel market over the past 12 months and provides insight on South Africa’s steel sector in particular, including production and demand, government support and the scrap metal sector, as well as decarbonisation efforts in the steel sector. It also provides an overview of the main producers in South Africa, as well as an overview of the global and local stainless steel markets.
This report draws from material published over the past 12 months and is a summary of other sources of information published in Engineering News and Mining Weekly, as well as of information available in the public domain.
This report does not purport to provide an analysis of market trends.