UAE’s Emirates Steel expects year-long slowdown in construction in Middle East

State-owned long steel producer Emirates Steel is expecting a slowdown in the Middle East construction sector that will persist throughout 2019, chief executive officer Saeed Al-Remeithi said on Tuesday February 26.

Al-Remeithi was speaking as the company released partial production results for 2018. He said that he expected the slowdown in the regional construction industry this year because of increases in iron ore prices, a drop in sales prices, market volatility, and protectionist actions by some nations.

He had made an earlier prediction in October 2018 of a decline in global steel demand...


Serife Durmus

February 27, 2019

15:05 GMT