Serious questions being asked about composition of ‘fair’ steel price basket

June 3, 2016

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South African steel consumers are raising serious concerns about the composition of the steel-price basket being proposed by ArcelorMittal South Africa (AMSA) as a mechanism for regulating domestic flat-steel prices and are seeking urgent talks with government to air their anxieties ahead of any deal on the so-called “fair pricing” methodology. Department of Trade and Industry (DTI) deputy director-general Garth Strachan has indicated that government is close to agreement with AMSA on the methodology and that its implementation will be monitored by a ‘steel committee’, comprising government officials and steel experts.

Category: General