South Africa expects drop in structural steel consumption
South African Institute for Steel Construction lowered its estimations of structural steel consumption this year in relation to the current global slowdown of economy and the impacts of war in Iraq. At the beginning of the year, the initially forecasted figure for consumption was 500'000 tons of steel. However, due to the cancellation or postponement of many local and international construction projects with the negative atmosphere and uncertainty created by the war, this forecast has been now revised as half of the initially estimated tonnage. Officials state that total consumption of structural steel is not exceed 250'000 tons under these circumstances. Total South African structural steel sales performed in 2002 amounted to 350'000 mts.