Mohamed Salem Al-Afari, Secretary General of the Emirates Steel Producers Committee and Senior Vice President of Marketing at the Emirates Arkan Steel Group, said: The value of sales of the reinforcing steel market in the country during 2022 amounts to about 4.5 billion dirhams, while the volume of domestic consumption is estimated since the beginning of the year to about two million tonnes.
Al-Afari added, in statements on the sidelines of the Big 5 2022 exhibition, that the global reinforcing steel market witnessed a divergence during the first half of 2022 due to the state of the global economy affected by the Russian-Ukrainian crisis and the closures in China due to “Covid-19”, while the market returned to a gradual decline during the second half of the current year.
He pointed out that the “Emirates Arkan Steel” group is currently preparing to add a new expansion in the work lines for the production of flat iron products used in the automotive, home electronics and other industries, which raises the annual production of the group from about 3.5 million tons annually to about 5.2 million tons in 2026.
