The decision to lock down the country as part of the COVID-19 response to protect the health of the South African population has put further pressure on the steel industry. [...] The current view in the steel industry, also Potential for job losses in the formal illustrated in the PwC report¹ on the subject sector is significant. [...] However, more urgently, the country was the lowest cost producer even the loss of sales over the short term is impacting the before the devaluation of the ruble. [...] response time and will depend on the demand seen Over the medium to long term from the market, based on both the market’s appetite for finished goods and the forecast de-Global steel in 2021 is expected to recover by about mand from the customers. [...] With no sales downward pressure on steel prices and further during the lockdown, the cash is not coming in to widen the cost of production gap between the scrap pay the bills.
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