UAE’s local manufactured steel is sufficient to satisfy the current domestic demand as steel prices continue to fluctuate, according to market source.
With a downturn in construction activity and demand in UAE, even though local capacity continues to go up, the consumption on Turkish steel held by UAE has momentously decreased.
According to reports, monthly steel demand for rebar has significantly dropped down in the Middle East by over 50 percent compared with 2008.
Because of slowdown demand, UAE’s importers have no choice but ask Turkey cut steel prices down currently to overcome amid this hard time. Source: Yieh.com