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UAE flat product market faces challenges no less than long steel business

Steel industry in the UAE as well as in other countries worldwide has been affected negatively by the COVID‑19 outbreak.

Moreover, most of UAE’s big projects have passed the active consuming period, which led to low construction activity. According to the latest made-public figures by BNC Network, the total value of given projects plummeted by 17% year on year to $53.8 billion in Q1.

In addition to that, the New York Times informed that the economic slowdown in Dubai could wipe 5% to 6% off its GDP this year.

Flat steel market players are not very positive for the next coming months, as the fundamentals are weak and the government has announced severe expenditure cuts.

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About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

Information About Union

92 Members

28 Board of Directors

17 Country

300.000 Employees

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Mail: relex@solbarab.org

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