SA plans to hike up steel demand over the next decade

CAPE TOWN (Scrap Monster): He stated to more than 250 delegates associated with the Organization for Economic Cooperation, South Africa Workshop on Steel Making Raw Materials, located  in Cape Town, that he anticipated the upstream steel demand as well as the downstream steel demand from the country to rise above 6 percent and 10 percent respectively, over the coming decades.

This determination of the deputy minister is backed up by the governments 18 strategic infrastructure projects, which includes projects in the railway, energy, education, water and also sanitation, which would hike the demand for steel in the domestic market. The deputy minister, stated that, the government considers steel as a basic point of development in South African industry. The development of steel industries means a hike in job opportunities, increase in the income from foreign exchange earning, through the export of the commodity to the rest of the continent.

The country remains to be the largest producer of steel in the country, the downstream, segment of the steel industry, holds high potential to invite investment, growth as well as development.