Competition Watchdog Issues Draft Steel Industry Inquiry Terms

The beleaguered steelmaking industry, linked directly with iron ore mining and the scrap metals sector, is a key strategic industry for SA generating 1.5% of GDP and accounting for 190,000 jobs.

SEATTLE (Scrap Monster): The Competition Commission has published draft terms of reference for the steel industry inquiry, saying it has reason to believe that certain of the sector’s market features impede, distort or restrict competition.         

The beleaguered steelmaking industry, linked directly with iron ore mining and the scrap metals sector, is a key strategic industry for SA generating 1.5% of GDP and accounting for 190,000 jobs.

Courtesy: www.investing.com