Steel strike costs R300m a day - employers

Johannesburg - The wage strike by 220 000 steel and engineering workers, which began on Tuesday, will cost the economy more than R300m or 0.014% of GDP a day, an employers body said.

The local chief executive of a major US car manufacturer had indicated he was under pressure from his head office to close down South African operations and move to a country with a more stable labour environment, the Steel and Engineering Industries Federation of SA also said in a statement.