According to recent report, steel demand in UAE is expected to drop by about 50 percent this year on demand decline in the construction sector.
Ajay Agarwal, CEO of RAK Steel said that the consumption of steel in UAE was 5.5 million tons of rebars last year. However, he also said that the consumption of steel per capita was actually high last year, which was around 1,300 to 1,400 kg, compared to world’s average of 250 kg per capita. So such decline just brought the consumption to a rational level.
According to Reuters, the steel demand from the construction industry of the Gulf countries also dropped as much as 35 percent in 2009 since the construction sector consumed more 80 percent of steel demand. Source: Yieh.com
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Wednesday, February 18, 2009
12:40 |
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