South Africa not surrendering its steel industry, says Davies

South Africa’s steel industry is facing some serious challenges, brought on by a global steel glut of 44-million tons a year, but it is vital for the country to do everything possible to maintain a sustainable, competitive steel industry as it is of strategic importance to the country, says Trade and Industry Minister Dr Rob Davies. He told Parliament’s Portfolio Committee on Trade and Industry on Tuesday that global plant utilisation was expected to stay below 80% for the next few years, as a result of the oversupply of steel and massive installed capacity in China.