Press Release - 2015/08/28: SEIFSA WELCOMES GOVERNMENT'S DECISION TO IMPOSE A 10% TARIFF ON IMPPORTED STEEL
JOHANNESBURG, 28 AUGUST 2015 – The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) welcomes the Government’s decision to impose a 10% tariff on cheap, imported steel.
Speaking after the release of a statement by the Department of Trade and Industry today, SEIFSA Chief Economist Henk Langenhoven said that the Federation was very pleased with Trade and Industry Minister’s undertaking to impose a tariff on imported steel that made it impossible for local manufacturers to compete.
Press Release - 2015/08/27: JULY PPI CONFIRM TOUGH TIMES AHEAD FOR METALS AND ENGINEERING SECTOR
JOHANNESBURG, 27 AUGUST 2015 – Detailed analysis of the Producer Price Index (PPI) figures released by Statistics South Africa today (Stats SA) confirms the concern of an economy in trouble, the Steel and Engineering Industries Federation of Southern Africa (SEIFSA) said.
Speaking after the release of the figures, SEIFSA Economist Tafadzwa Chibanguza said that while containing inflation was prudent, a lack of inflation was even more concerning and painted a scenario of weak activity in the economy.
Press Release - 2015/08/24: JOINT STATEMENT BY LABOUR AND BUSINESS ON OUTCOMES OF THE MEETING WITH GOVERNMENT
Last week Friday, 21 August 2015, a watershed meeting took place between labour; business and government behind closed doors in Pretoria. Organised by Numsa, this meeting was a shared initiative of labour, business and the steel industry associations, an attempt to put the brakes on the looming job loss bloodbath in the primary steel and related industries.
THE INTIMATE RELATIONSHIP AMONG THE SECTORS MEANS THAT IF ONE GOES DOWN, ALL GO DOWN
The metals and engineering sector is intimately linked to the fortunes of the mining, construction and car manufacturing sectors. Collectively, these four sectors directly contributed 17% (R575 billion) to GDP in 2014 and, depending on the indirect and induced multipliers, up to twice this number. On its own, the metals and engineering sector contributed R123 billion to GDP in 2014.
These four sectors export and earn a huge portion of the country’s foreign exchange, and directly employ about 1,7 million people.