African infrastructure projects boost steel demand

South African iron and steel institute (Saisi) secretary-general JohannNel said sub-saharan Africa to attract foreign direct investment increasing, will pull the steel consumption growth, in 2014 has become the most attractive investment area in Africa.

Africa’s share of global foreign direct investment (FDI) of 5.7%, a record high, South Africa, Nigeria and Kenya, three of the most promising market for the investors, the three countries of sub-saharan Africa FDI more than 40% of the project.

International steel association, according to data from 2013 African apparent consumption of steel 33.7 million tons, up 11% on the previous year. South Africa is still a net importer of steel, benefit from the rich iron ore and scrap raw material, the steel industry will be rapid development in South Africa, South Africa’s annual exports of 60 million tons of 1.5 million tons of iron ore and scrap steel.