September 06, 2008

South African SS consumption in H1 up by 12% YoY

According to South Africa Stainless Steel Development Association the consumption of stainless steel in South Africa up by 12% YoY in H1 of 2007 as compared to H1 of 2006.

Mr Campbell a representative of South Africa Stainless Steel Development Association said that the main drivers of this growth were the fast growing economy and good market conditions due to major infrastructural developments.

He said that “The automotive sector is being driven by the Motor Industry Development Program and strong demand both locally and abroad while tank containers are continuing to recover after a wave of consolidation in the sector in 2003 to 2005.”

South Africa total apparent consumption of stainless steel was 111,025 tons in the H1 of 2007, in which 80,200 tonnes come from domestic mills and 22,370 tonnes of primary product and 8,455 tonnes of finished product was imported.