Shop floors at steel factories across the country were abandoned by 100,000 workers last week. The beleaguered steel industry has warned of a ‘jobs massacre’ if the Numsa strike continues.
Category: Macsteel In The Media
Macsteel, one of South Africa’s largest steel manufacturers, merchandisers and distributors has agreed to a settlement with the Minister of Department of Trade, Industry & Competition to eliminate the future extension of the safeguard duty on hot-rolled steel for at least the next two years, within which no further safeguard
MACSTEEL, South Africa’s biggest steel merchant, said yesterday that it had reached an agreement with the Department of Trade, Industry and Competition (DTIC) that would boost the competitiveness of the local steel sector.
The Department of Trade, Industry and Competition (DTIC) and Macsteel have reached a legal settlement in a case brought by the steel merchant after government extended the implementation of safeguard duties on hot-rolled coil (HRC) imports in August last year.
Macsteel CEO, Mike Benfield is bullish about the company’s prospects of success in its court bid to overturn government’s “unlawful” safeguard extension of steel import duties that it claims are crippling the ailing downstream market.
Trade, industry & competition minister Ebrahim Patel stated the obvious in his recent budget speech that “SA’s import to GDP ratio is too high for a country that desperately needs more jobs”. Michael Avery and his panel debate how steel prices hurt the localisation drive, and the economic benefits of
Steel prices hurt localisation drive.Listen to the Classic Business podcast with Mike Benfield, CEO of Macsteel, Kobus Verster, CEO ArcelorMittal South Africa (AMSA) and Talib Sadik, former CEO of Denel. Recorded on 7 June 2021 exclusively to Classic 1027, with Michael Avery.
Macsteel CEO Mike Benfield is confident that the company has a strong legal case against the continued application of 8% safeguard duty payments on hot-rolled coil (HRC) and confirms that it is also asking the court for an order granting that it be reimbursed for the duties paid since the
MACSTEEL launched the third of its independently owned Macsteel Express franchise partnerships in Nelspruit recently. It joins the first two of these concept outlets which opened in Klerksdorp and Welkom in February.
Steel merchant Macsteel has launched the third of its independently owned Macsteel Express franchise partnerships, in Nelspruit, on June 1. Macsteel launched the first of its two franchise partner concept outlets in February this year in Klerksdorp and Welkom, respectively.
Steel producer ArcelorMittal South Africa (AMSA) has rebuffed increasingly vociferous calls for the elimination of safeguard duties to ease ongoing supply constraints and price increases in the domestic market.
Various players in the beleaguered steel industry came together for a round table discussion on 19 May 2021 to discuss the challenges being faced in the industry. Convened by Duferco MD, Ludovico Sanges, the round table laid bare the frustrations felt by the participants as their industry faces catastrophe thanks
Opposition to the extension of safeguard duties on steel imports is intensifying, with the country’s leading merchant challenging the extension of the duties in court and with others even questioning the economic benefits of sustaining a primary steel producer in the form of ArcelorMittal South Africa (AMSA).
Ever thought about the significance of your towbar? Ever considered the consequences of it breaking? That little steel ball that protrudes out of the rear bumper has an enormous amount of engineering in it. But that means very little if the quality of steel it’s made from isn’t of the
Commercial sustainability in tough economic conditions remains one of the driving forces behind Macsteel’s business transformation journey. In June 2020, Macsteel merged Macsteel Trading Pipes, Fitting and Flanges into Macsteel Fluid Control, which has since achieved the forecast growth it set out to achieve. The merger required an extensive change
Steel merchant Macsteel has committed to paying small and medium-sized enterprise (SME) suppliers within 30 days, in a bid to contribute to the growth of this critical sector of the South African economy.
Macsteel is putting its money where its mouth is, committing to pay SME suppliers within 30 days in a bid to contribute to the sustainability and growth of this critical sector of the South African economy. South Africa’s largest steel merchant has joined Business for South Africa’s (B4SA) #PayIn30 campaign.