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BDLive reports that the Steel and Engineering Industries Federation of Southern Africa (Seifsa) says the metals and engineering sector in SA is in a critical condition and it seems it will suffer more setbacks over the next six months before improvements can be expected.
Seifsa also reports that anecdotal evidence from primary metals producers and merchants taking orders from downstream industries — including the mining and construction sectors — shows "the bottom has fallen out of demand". Seifsa chief economist Henk Langenhoven said on Friday that exports of metals products were soft, mining was in the doldrums, demand from the domestic automotive sector "was dead" and "construction is going nowhere". Seifsa is "extremely concerned" about persistently lower confidence and production levels, which could lead to possible further job losses.
- Read this report by Mark Allix in full at BDLive
Get other news reports at the SA Labour News home page