MEIS 2019: Governments should approve justified investments to avoid overcapacity, Ankur Dana says

Overcapacity in the global steel sector has been an issue for many years, but has intensified in the recent years, according to Ankur Dana, chief executive officer of Dubai-based multinational Dana Group .

Global overcapacity causes steel prices to fall, so governments should only approve new capacities if there is need, Dana said at Fastmarkets’ Middle East Iron and Steel Conference in Dubai on December 11.

“If we compare the estimated demand for finished steel products in 2035-40 with existing installed capacities, we...

Published

Serife Durmus

December 23, 2019

16:33 GMT

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