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South Africa Prohibits Scrap Metal Exports

Steel News - Published on Wed, 08 Jul 2020

Image Source: South Africa Scrap Export
South Africa's government has banned all exports of ferrous and non-ferrous scrap metal for two months from 3rd July in order to safeguard domestic supply while it considers measures to support the domestic industry. Scrap metal shipments that already received export permits or that applied for permits prior to 3 July will be allowed to go forward. The ministry also will issue permits for scrap metal that it determines is not being used by South Africa's domestic processing industry. The move was made in response to appeals from South African scrap consumers that there is a shortage of affordable scrap metal in the country, despite existing measures to give priority to domestic buyers.

Current guidelines established in 2013 created a system under which scrap metal cannot be exported from South Africa unless it has first been offered to domestic buyers at a discount to international benchmark prices. But South African industry has increasingly lobbied that this price preference system is not functioning adequately to keep scrap inside the country at prices affordable for local buyers.

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Posted By : Yogender Pancholi on Wed, 08 Jul 2020
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