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Byline: Claire Bisseker
IMPACT OF STEEL PRICES ON INDUSTRIAL POLICY The basket case SA's new industrial policy pins its hopes for faster growth and job creation on reviving the manufacturing industry, which is highly steel-intensive.
SA's manufacturing sector, according to the department of trade & industry (DTI), has performed poorly over the past 10 years because of low profitability. One of the reasons for this is monopolistic provision and pricing of key inputs into manufacturing, including steel.
Almost 80% of steel sales in SA are directed at the manufacturing and construction sectors. In addition, basic iron and steel are significant inputs into …