The Portfolio Committee on Trade and Industry has raised concerns regarding the pricing environment in the steel industry.

Members of the committee expressed concern regarding the impact of steel pricing on production, investment and more importantly the labour retention given the manner in which some companies are retrenching workers.

The committee also addressed the apparent delay in establishing a steel committee within the International Trade Administration Commission of South Africa (ITAC). The steel committee will evaluate and monitor steel pricing, production, investment and labour retention.

This comes after opposition MPs on Tuesday accused Trade and Industry Minister Rob Davies of turning a blind eye to repeated steel price increases

The committee undertook to write to the Minister to clarify the issue. Committee Chairperson Joanmariae Fubbs will also convene an urgent meeting with the Minister should the situation deteriorate during the constituency period.