Steel sector gets an export push

Anna Cox THE STEEL sector has been identified by the Gauteng Department of Finance and Economic Affairs as one which has huge export potential. The sector already exports more than 90% of unbeneficiated stainless steel, with the world average being 40%. These figures were released by Gauteng MEC for Finance and Economic Affairs, Jabu Moleketi, when he announced his Trade and Industry Strategy 2003 last week. One of the objectives of the new strategy is to achieve growth in the local stainless steel export industry to reach the critical mass necessary for 50% domestic off-take. Moleketi said that stainless steel, which makes up less than 5% of the steel sector’s output, has rapidly outgrown the carbon steel industry, which accounts for the remaining 95%.