Evraz says Africa is critical market for steel industry




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Johannesburg-listed steel maker, Evraz Highveld Steel (Evraz), on Tuesday said infrastructure projects Nigeria, , Tanzania, Zambia and remained a critical growing market for the steel industry.
But the cutthroat competition global steel makers sub-Saharan Africa (SSA) had kept pricing these markets pressure and keeping with international tendencies.
addition, the sluggish speed with which large infrastructure projects have been carried out South Africa, an explosive market, energy tariff hikes and worries continued to create for domestic steel industry, Evraz said.
Evraz made these comments as posted a R105 net loss in the first quarter of this year.
This happened at a time the global economy remained weak in the first quarter of this year. The global economy has also not reached the growth levels needed to prompt adequate demand for steel, said.
However, is likely the global steel demand this year grow by 3.1 percent to 1475 Mt, the firm said