South Africa HR flats imports surge in 2020
South African hot rolled flat products imports under HS chapter heading 7208 surged 121% on-year in 2020 to 233,941 tonnes, according to South African Revenue Service (Sars) statistics monitored by Kallanish.
Turkey was the biggest supplier with 56,947 tonnes, followed by the UK with 49,791t. Next came Russia and Taiwan with 31,484t and 31,336t respectively. India supplied 18,437t.
Exports of these products, however, plunged -78% in 2020 to only 117,075t, with Kenya, Zambia and Tanzania the main markets.
Imports of coated flats under HS chapter heading 7210 meanwhile fell -9% in 2020 to 302,193t, of which 171,471t was supplied by China.
South Africa’s largest steelmaker, ArcelorMittal South Africa, said last month it will imminently increase output from its electric arc furnace in Vereeniging on the back of increased demand and supply shortages (see Kallanish passim). The firm said earlier in January it anticipates supply-demand imbalance, as well as cost pressures, to result in some level of price support through 2021.
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Anonymous
Very good overview of the weekly steel market.
Anonymous