Job losses at ArcelorMittal SA highlight deindustrialisation and discrimination against small businessesA stainless steel product line is seen at a factory. Picture: REUTERS
The steel industry’s loss of 100,000 jobs over the past decade and hundreds of thousands of jobs over two to three decades did not get enough attention. That is because it happened gradually and was spread nationally. steel exports represented about 16% of all steel exported globally in 2017, according to US government agency International Trade Administration.
Granted, some countries such as France, Spain and Turkey also suffered declines in crude steel production, but not remotely on the scale experienced by SA, which owes its production solely to Amsa. The SMMEs are Amsa’s customers. As they decline, so does Amsa’s market. In 2015, the year SA narrowly missed a textbook recession, small businesses suffered when the government made a 180º turn and introduced a 10% customs duty on steel.
It needs to be kept in mind that the duties protect a foreign-owned, 70-year-old Amsa steel mill. With its antiquated production methods and electricity burden – which is 60% higher than that of a modern steel mill – it cannot compete with global competitors, both in terms of price and the quality of steel.
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