Hurdles for steel trade

A NEW report on the future of the steel industry has called for all tenderers for Federal Government projects to submit plans for Australian Industry Participation (AIP).

A Senate committee has spent the past two years examining the financial troubles of two major steelworks, Arrium in South Australia and BlueScope in New South Wales.

BlueScope returned to profitability in the 2015 financial year, while the sale of Arrium to British consortium GFG Alliance secured the continued operation of the Whyalla steelworks.

But the inquiry’s 148-page report found the Australian steel industry still faces a number of challenges.

These included inconsistent standards, issues in procurement policies, unfair and uncompetitive trade practices and price strains on steel produced in Australia.