South African Pipe Manufacturer Robor is Forced to Liquidate

According to foreign media, on Wednesday, the steel pipe and pipe manufacturer Robor Tube and Pipe, which has operations in the Western Cape, was forced to liquidate and was blamed on the decline of the South African economy in the past three years.
 
Robor was once one of the largest steel suppliers in Southern Africa and has a history of 90 years. The company said that the United States imposed new import tariffs on imported steel, damaging Robor's business of selling specialty steel pipes to the US oil and gas industry, which was previously a lucrative export market. It also accused the government of not extending import tariffs and tariff protection to downstream industries, thus causing steel manufacturers to face huge profit erosion when competing with imported steel products.
 
South African power company Eskom said in a statement announcing liquidation that the delay in signing a power purchase agreement with independent power producers and the financial difficulties faced by power company Eskom have caused "systemic damage" to the production and revenue of South African steel pipe manufacturing.
(source from news.zgw.com)
Tags: Q345B steel pipe,  A106 GR.A Steel Pipe
 

Pre: A Week's Review of Raw Materials Market (August 10 to August 16)

Next: World Steel Association elects new officers in Monterrey