a strategy that was pursued as a result of government unhappiness with AMSA’s persistent use of import parity pricing to set domestic prices. “In future, all designations will stipulate that only steel produced in South Africa will be considered to be local.” The DTI was also preparing to designate further steel-intensive products for local procurement in addition to the 15 that had already been designated under the Preferential Procurement Policy Framework Act. “We’ve got to raise aggregate demand for steel,” Strachan said, noting that many other countries were pursuing ‘buy local’ strategies to protect their steel industries in the face of the global glut. AMSA estimated global overcapacity to be 240-million tons and warned that it would take time before China reduced its capacity, despite large losses by that country’s steelmakers. However, Scaw Metals CEO Markus Hannemann urged government to go even further and designate all products to local procurement, unless it could be shown that such products cannot be produced locally. He added that the private sector should also embrace local procurement, lamenting the rising levels of importation, with companies seemingly “oblivious” to what is available locally. Broadcast Ballz Visual Radio The Business 09 June 2016 AVE: R17,950 Ballz Visual Radio The Business 09 June 2016 AVE: R17,925 ENCA Moneyline 21 June 2016 AVE: R79,333 ENCA Moneyline 22 June 2016 AVE: R32,667 ENCA Moneyline 25 June 2016 AVE: R32,433 ENCA Moneyline 25 June 2016
a strategy that was pursued as a result of government unhappiness with AMSA’s persistent use of import parity pricing to set domestic prices. “In future, all designations will stipulate that only steel produced in South Africa will be considered to be local.” The DTI was also preparing to designate further steel-intensive products for local procurement in addition to the 15 that had already been designated under the Preferential Procurement Policy Framework Act. “We’ve got to raise aggregate demand for steel,” Strachan said, noting that many other countries were pursuing ‘buy local’ strategies to protect their steel industries in the face of the global glut. AMSA estimated global overcapacity to be 240-million tons and warned that it would take time before China reduced its capacity, despite large losses by that country’s steelmakers. However, Scaw Metals CEO Markus Hannemann urged government to go even further and designate all products to local procurement, unless it could be shown that such products cannot be produced locally. He added that the private sector should also embrace local procurement, lamenting the rising levels of importation, with companies seemingly “oblivious” to what is available locally. Broadcast Ballz Visual Radio The Business 09 June 2016 AVE: R17,950 Ballz Visual Radio The Business 09 June 2016 AVE: R17,925 ENCA Moneyline 21 June 2016 AVE: R79,333 ENCA Moneyline 22 June 2016 AVE: R32,667 ENCA Moneyline 25 June 2016 AVE: R32,433 ENCA Moneyline 25 June 2016