South African stainless steel demand increased in 2002

South African stainless steel demand increased in 2002

The South African stainless steel industry showed an upward trend in 2002 as a result of strong demand driven mainly by exports and local consumption. According to Southern Africa Stainless Steel Development Association (SASSDA), apparent consumption of stainless steel increased by 11% in 2002 compared to 2001. In 2002, apparent consumption of stainless steel reached to 153'900 tons, 87'640 tons of which was consumed locally and 66'260 tons was exported. The growth in exports impacted by the improvement in the tank container industry. Local consumption also reached to 17'300 tons from 12'900 tons due to this improvement. Furthermore, direct exports of automotive products went up by 8% to 34'500 tons from 32'000 tons. The local market indicated a strong growth in tube and pipe sector as well as domestic ware and long products. According to SASSDA officials, the significant performance is an evidence to the increased competitiveness of local manufacturers and cooperate development efforts of the industry. Primary product imports remained unchanged while finished product imports increased by 19%.