Finished steel prices, both in the Middle East region and beyond, have trended down over recent months, while certain raw materials prices - such as for iron ore-derived products - continue to soar, heaping pressure on margins.
The best way to deal with this crunch in steel operation environments made up a significant part of discussions at the conference, along with other key talking points relating to ferrous scrap use, direct reduction-grade (DR) pellet supply and the use of alternative iron ore products.
Mena steelmakers aim to reduce dependency on construction sector
Although construction sites continue to adorn Dubai’s skyline, a slowdown in this sector is hurting the United Arab Emirates’ (UAE) steel industry, Hassan Shashaa, chief operating officer of UAE steelmaker Emirates Steel, said.
Apparent finished steel consumption in the UAE has fallen to 843.70 kg per capita in 2018, down sharply from 1,753.90 kg per capita in 2008, according...