The Australian steel industry is a vital sector of the Australian economy. According to a report by the NSW Business chamber, it employs over 100,000 workers across the country and the industry also contributes as much as $30 billion annually to the local economy. Despite this, a competitive global market continually produces new challenges for the steel industry at every turn, so it is imperative that Australian’s make the choice to support locally made steel.
The Australian steel industry is a crucial sector of the economy, however, the global market continually places pressures on local manufacturing. Read on to find out why we need to support the Australian steel industry.
The Market
The global market is becoming increasingly more competitive, but at the same time, steel prices are volatile. Surpluses in steel have led to the world’s largest manufacturers such as China dialling back on steel production, but overall consumption is expected to rise by 0.9% over the next year, while production remains at roughly the current levels.
Despite this, Australia still has to compete with cheaper steel manufactured by companies with higher output, namely China and is touted to expect a slump in the demand for Steel over the next few years. So if there was ever a good time to support Australian steel, it’s now.
Promotion of Jobs and Skills
Steel manufacturing is a particularly skilled sector, which employs everyone from apprentices to professionals, to engineers and scientists. The innovation that the industry provides is invaluable and crosses over with many other industries, such as mining, transport, infrastructure and services. As a whole, the industry employs over 100,000 workers directly, however it has a multiplier effect of 3-5 indirect jobs for every direct job, making it a significant contribution to skilled employment.
Quality
One of the main benefits of buying Australian steel is quality assurance. Australian standards assure that manufacturers have robust systems of quality management in place at each level of the supply chain. Non-compliant steel is imported in high volumes, placing pressure on domestic manufacturers. These competitors may be able to offer a lower upfront price point, however, they are not quality assured. This can sometimes result in components and structures that fail or do not last as long as a product made to stringent quality guidelines.
Fair and Sustainable Practises
Another benefit of Australian steel is that as a country, it is a world leader in best practices and industry collaboration. There are many organisations that promote fair and sustainable practices and responsible sourcing of materials throughout the supply chain. The Steel Stewardship Council’s mission is to improve and advocate the economic, environmental and social credentials throughout all aspects of the Australian steel industry. Similarly, organisations such as the Australian Steel Institute promote innovation, fair trade and the support of Australian steel products to support the future of local manufacturing.
If you’d like more information about steel manufacturing in Australia, or if you need quality steel that is fabricated to suit your unique needs, contact Steel Fabrication Services today.
Our team of expert structural steel fabricators have the experience and knowledge to answer any of your questions and will ensure that you find the best solution to suit your needs. To contact us today, simply call, fax or email for information or a steel fabrication quote, or drop by our Brookvale location.
