STEEL

Finweek English Edition - - IN THE NEWS -

Busi­ness and labour lead­ers met with gov­ern­ment on 21 Au­gust to dis­cuss the chal­lenges faced by the lo­cal steel and iron ore sec­tors and to look at ways to boost lo­cal busi­ness and pro­tect jobs.

Ac­cord­ing to the depart­ment of trade and in­dus­try (DTI), the In­ter­na­tional Trade Ad­min­is­tra­tion Com­mis­sion (Itac) has fi­nalised an ap­pli­ca­tion for im­port du­ties on three steel prod­ucts, which will be sub­mit­ted to gov­ern­ment for fi­nal ap­proval “shortly”. New ap­pli­ca­tions have been re­ceived and are be­ing con­sid­ered on an ex­pe­dited ba­sis, the DTI said.

To date, no anti- dump­ing ap­pli­ca­tions have been re­ceived from in­dus­try, the DTI said. This is ex­pected within the next four weeks. Other is­sues that will be ad­dressed in­clude tight­en­ing reg­u­la­tions to ad­dress the surge in the ex­port of scrap me­tal and bet­ter use of the train­ing lay­off scheme in­tro­duced dur­ing the eco­nomic down­turn of 2009, the DTI said.

I n ad­di­tion, the I ndus­trial De­vel­op­ment Cor­po­ra­tion (IDC) has made a R150m fund­ing fa­cil­ity avail­able to Evraz Highveld Steel and Vanadium.

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