Thu, 13 Apr 2017 10:55:19 +0000 By BENNIE MUNDANDO THE steel sector will collapse if Energy Regulation Board (ERB) approves Zesco’s proposed 75 percent tariff hike, says Zambia Metal Recycling Association (ZAMRA) president Jimmy Luo. Mr Luo said the situation, apart from pushing up the cost of production, would become a big challenge because steel products were already expensive compared to those manufactured by the Chinese. He told the Daily Nation yesterday that the local steel sector was grappling with the market as it was one of the most neglected in Zambia because government had failed to protect it from competition from outside Zambia. Mr. Luo noted that while Zambain companies were selling a tonne of steel at US$650, some companies from countries like China were exporting the commodity to Zambia at US$ 400 due to reduced cost of production, thereby creating an unfair competition. He noted that due to limitation in business for […]
