AISU 2018: Excess capacity goes to Middle East because of weak protection, Al Ghurair says

The global excess of steel production capacity is resulting in increased volumes of imports into the Middle East, BS Shetty of Al Ghurair Iron & Steel (AGIS) told an industry conference on Monday November 5.

Steel mills in China and India have more than 50% of the world’s steel production capacity, and they get export incentives, Shetty told delegates to the Arab Iron & Steel Union Summit in Amman, Jordan. He is commercial general manager of AGIS, a flat steel re-roller and galvanizer based in the United Arab Emirates. In addition, he said, countries such as China, India and Turkey have lower production costs because of the depressed values of...

Published

Serife Durmus

November 05, 2018

19:28 GMT

Amman