Stainless steel exports rise 13%

EXPORTS OF stainless steel products increased by 13% during 1998, which effectively countered the drop in local consumption figures, according to the Southern African Stainless Steel Development Association.
Last year's exports rose to 113 800 tons, valued at R3,6 billion. But during the year local consumption of fabricated products fell for the first time since 1992 as a result of slow economic growth and high interest rates.
Exports of stainless steel automotive products, mainly catalytic convertors, grew by 37% and tank containers increased by 16%. The biggest leap, however, was in the field of tubes, pipes and fittings, with a figure showing 119% over the previous year, while even general products, such as catering equipment grew by 106%.