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Home Steel News MBR: Saudi Arabia, Egypt, UAE to take control Middle East markets
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MBR: Saudi Arabia, Egypt, UAE to take control Middle East markets

5 Oct 2007 10:37 reported by Margaret Yeh

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Egypt, Saudi Arabia and the UAE will have the control of steel demand in the Middle East area, according to the Metal Bulletin Research (MBR).

By 2010, Saudi Arabia will reach an expansion capacity of 5 million tons, Egypt for 2 million tons and the UAE with 1.5 million tons. The steel demand is expected to increase from 70 million tons in 2007 to 90 million tons in 2010. GCC steel demand will go up around 20 -30 million tons in the same period.

On the basis of the report’s expectation, production of raw steel will reach 51.5 million tons in 2007 and 62.9 million tons in 2010, finished steel products capacity will raise by 46.7 percent from 22.9 million tons in 2006 to 33.6 million tons in 2010.

Due to the growing demand by approximate 9 percent, Middle East will switch its role as a importer of mainly billet, slab and HR coils. The consumption of semi-finished and flat products is expected to largely increase from 6.4 million tons in 1997 to about 30 million tons in 2007.

Metal Bulletin Research (MBR) is the worlds leading independent provider of market analysis for the global metals and mining industry.

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