GCC iron and steel
demand on the rise
News Dubai: Demand for steel from UAE stood at 3.5 million
tonnes in 2006, according to industry estimates. The region's
import of iron and steel products during 2005 totalled 14.3
"With over $1 trillion worth of infrastructure projects in the
pipeline, there are no indications of any let up in the region's
demand for iron and steel in the near future.
In fact, the demand for iron and steel in the GCC region is
expected to increase by 31 per cent to 19.7 million tonnes by
2008 as a result of heightened construction activities," a
The demand for iron and steel products in 2005 stood at 15
million tonnes with a substantial share of it met through
"The GCC region is well on its way to becoming an important iron
and steel production centre in the Middle East. In 2005, the GCC
States had invested $6.5 billion on the manufacturing of iron
and steel products," according to a report by Gulf Organisation
for Industrial Consulting (GOIC).
Other than the GCC States the rest of the Middle East too has
been experiencing a significant increase in demand for
construction materials, particularly steel.
According to Steelworld, a trade magazine in the Asian Iron and
Steel sector, the total steel production from January 2006 to
November 2006 in the Middle East was 13.5 million tonnes against
a figure of 13.4 million tonnes during the same period the
The world crude steel production for the year 2005 stood at
1129.4 million tonnes while for the period from January 2006 to
November 2006 it was around 1111.8 million tonnes.
"The increase in demand for iron and steel and the subsequent
increase in their production as well as imports is no doubt a
positive sign for the Middle East Iron and Steel industry," said
D.A.Chandekar, Editor and CEO of Steelworld.
"However, at the same time, the rapid growth has also meant that
several prime issues are now unexpectedly facing the industry
point-blank and they need to be resolved at the earliest."
The magazine is organising the Gulf Iron and Steel Conference at
Expo Centre Sharjah on January 29 and 30 this year.
The Gulf Iron and Steel Conference will focus on several crucial
issues facing the regional Iron and Steel sector.
The conference will be held alongside the third edition of
SteelFab at Expo Centre Sharjah, the Middle East's largest
display of steel, fasteners, accessories, surface preparation,
machinery and tools, welding and cutting, finishing and testing
equipment, and coatings and anti-corrosion material.
SteelFab will be held from January 29-31 and will feature over
280 brands and companies from 34 countries. "SteelFab is the
region's largest sourcing platform for the steel working
industry," said Saif Al Midfa, director-general, Expo Centre