Solidarity warns steel industry will crumble


    JOHANNESBURG – Trade union Solidarity has warned it's only a matter of time before the steel industry shuts down for good.

    The union said this is a result of unfair trade practices.

    The industry that makes one of the strongest building materials is holding on by a thread.

    South Africa’s steel industry has been bleeding, suffering financial and production losses as market prices collapsed.

    Union Solidarity said the damage could be permanent, if higher tariffs aren’t put in place to protect local producers.

    “Production in the steel industry is under distress, local production levels have fallen by 11 percent and linked to that we see steel imports from the East have increased significantly, from 500,000 tons to 1.5 million tons we need policies to protect our industry,” said Solidarity deputy general secretary, Marius Croucam.

Source: enca