Middle East steel output to climb exec

Dec 13, 2006 | 02:08 PM |

Crude steel production in the Middle East is expected to increase to 26.1 million tonnes per year by 2010 from 13.7 million tonnes this year, but will still fail to satisfy regional demand, according to George Matta, marketing director of Egypt's Ezz-Dekheila Steel Co. (EZDK).

Demand in eastern Mediterranean, North African and Gulf Cooperation Council (GCC) countries will grow to 47.8 million tonnes in 2010, driven by continued robust oil earnings, he told delegates at the 10th Middle East Iron and Steel Conference in Dubai sponsored by AMM sister publication Metal Bulletin.

Gross domestic product in the region will remain above the global average of 3.3 to 3.5 percent, Matta predicted, although it is likely to decline to 4.3 to 4.5 percent. "Per-capita steel consumption in the region has a long way to catch up. It currently stands at 136 kilograms (300 pounds) per capita compared with 400 to 600 kgs (880 to 1,320 pounds) in developed countries."....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results