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2022-09-22
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South African government: plans to introduce measures to control the competitiveness of steel prices

South African government: plans to introduce measures to control the competitiveness of steel prices

it is reported that China engineering machinery information

Guide: Rob Davis, Minister of trade and industry of South Africa, said on the 2nd that the South African government is paying attention to the changes in steel prices and plans to introduce measures to ensure that the product prices of domestic steel enterprises are internationally competitive. Previously, the South African Ministry of economic development and the Ministry of mineral resources have set up a joint working group to focus on iron ore

South African Minister of trade and industry rob Davies said on the 2nd that the South African government is paying attention to the changes in steel prices and plans to introduce measures to ensure that the product prices of domestic steel enterprises are internationally competitive. I sincerely hope that the control system of the experimental machine will be improved in the future! Force

previously, the Ministry of economic development and the Ministry of mineral resources of South Africa had established a joint working group to investigate and evaluate the iron ore and steel market

according to local media reports, a dispute occurred between Kumba iron mining company in South Africa and ArcelorMittal in South Africa, a steel producer, in May this year. Kunba iron ore mining company, which reached the goal of sand fixation, unilaterally raised the price of iron ore, which was rejected by those who later promoted the optimization and upgrading of existing refineries. Kumba iron ore also proposed ArcelorMittal to compensate in the form of surcharges, but the two sides have not yet reached an agreement

the Ministry of trade and industry of South Africa said that the government would not interfere with the commercial activities of enterprises, but at present, the steel price in South Africa has been much higher than the international average level, and the further upward trend of steel price is bound to affect the overall economy of South Africa, and the South African government will pay close attention to the development of the situation

Davis said that when necessary, the government will use policy levers to intervene in the pricing mechanism of steel products in order to protect the international competitiveness of steel downstream industries, but he declined to disclose what form of intervention the government plans to take

Louis Forbes, chairman of the trade and Industrial Investment Committee of the South African Parliament, said that a hearing should be held to hear the views of the industry on steel prices. Forbes said that the committee was considering enacting relevant laws to force ArcelorMittal, a leading enterprise in the steel industry, to implement steel prices that are more beneficial to the economic development of South Africa

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