Government attempts to keep loss-making South African steelmaker ArcelorMittal SA alive are killing the country's downstream steel industry and costing thousands of jobs, says Gerhard Papenfus, CEO of the National Employers Association of SA .Amsa, the country's only steel producer, is protected by 20% import duties, forcing manufacturers in the domestic steel sector to pay cripplingly high prices for steel.The world selling price of steel is $513 a ton.
"Having a local steel producer makes sense and would be best for local manufacturers, "but only if it's a modern producer that is competitive. Then of course it's a good thing. We have iron ore here around the corner, so with a modern steel mill we can export."Given the current political climate in SA, he"can't see" the international owners of Amsa investing billions in a new steel mill.
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