Steel remains invaluable commodity, despite decline

Despite the decrease in demand in the local steel industry, the industry remains invaluable to South Africa’s economy, says local provider of high-quality global electrical, automation, mechanical, consumable and capital equipment products, Elquip Solutions MD Mike Cronin. He explains that steel is a commodity that can be used in a range of applications, from the automotive sector to structural. The slump in the South African economy has resulted in other industries also being negatively affected, but the steel industry provides a large portion of employment, making its current declining status a concern for the economy.