SA’s iron and steel finished product exports have faced several difficult months, with 2023 not starting well
SA exports are at risk after the EU introduced the Carbon Border Adjustment Mechanism , coupled with EU steel quotas as well as Transnet’s ever-deteriorating capacity in rail and ports.
Once this quota has been reached, a 25% tariff on steel from third-party countries, including SA, is applicable.imported more than we exported at the start of 2023 and recorded a preliminary trade balance deficit of R191m in January. According to SA Revenue Service trade statistics, the deficit was due to a significant drop in exports at R1.8bn, a marked year-on-year decline from January 2022’s R3.2bn.A notable decline was also recorded in exports to the EU, from R1.
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