AISU 2018: Five things we learnt in Amman

The Arab Iron & Steel Union (AISU) held its annual summit in Amman, Jordan earlier this week. Here are five things that Fastmarkets MB learnt at the event:

1. Demand for steel in the Middle East and North Africa (Mena) region is not very likely to increase before the end of the year, but market participants expect 2019 to be a better year due to a bigger appetite forecast from the regional construction sector. Steel demand in the Middle East will improve because of the improvement in oil prices, structural reforms (especially in Egypt), and the construction needs of the Dubai Expo 2020 and Qatar’s hosting of the Fifa football World Cup in 2022, BS Shetty, Al Ghurair Iron & Steel’s commercial general manager, said on Monday November 5. 2. Saudi Arabia is consuming about 6.5 million tonnes of steel per year, even though its steelmaking capacity is 13 million tpy. As such, the country is looking to increase its exports, as well as reduce its imports. Producers are also focusing more on value-added products to meet the demand...

Published

Serife Durmus

November 09, 2018

09:49 GMT

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