Arab Steel Summit
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Arab Steel Summit

UAE: Steel prices decreased by 19%, cement prices increased by 15% and concrete by 10% during 2022

According to Dubai Statistics Center data, cement prices in the UAE recorded a growth rate ranging between 7.7% and 15% during 2022. Ready-mix concrete prices rose by about 9.8%, and rebar steel declined by 19%.

Salt-resistant cement increased by 7.7%, from 14.53 dirhams per bag of 50 kg to 15.66 dirhams, while the price of ordinary Portland cement increased from 11.15 dirhams per bag (50 kg) to 12.82 dirhams by 15%.

The Centre’s data revealed that the price of ready-mixed Portland concrete, Newton 40, rose from 206 to 226 dirhams per cubic meter, an increase of 9.7%. The ready-mixed Newton 40 salt-resistant concrete increased from 214 to 235 dirhams per cubic meter, an increase of 9.8%.

In terms of rebar steel prices, twisted iron (6-8 mm) declined by 16.6%, from 3103 to 2587 dirhams per tonne, while twisted iron (10-25 mm) decreased from 2986 to 2421 dirhams per tonne, by 19%. However, rebar steel prices started in 2023, with a slight increase of 5.3%, to 2380 dirhams per tonne, compared to 2260 dirhams per tonne at the end of 2022, according to data from traders and suppliers of building materials.

White and black sand increased by 2.5% and 2.3% to settle at 793 and 1117 dirhams per cubic meter, respectively. The red sand decreased by 3.2% last night to 607 dirhams per cubic meter.

The United Arab Emirates occupies an advanced position among the top 10 countries in terms of cement production and export, as the annual production, according to 2020 data, reaches 40 million tonnes, while the domestic consumption volume is estimated at 37% of the energy produced. The remaining percentage is exported to foreign markets in the Gulf region, the Middle East, Africa and others.

Rebar market sales value in 2022 amounted to about 4.5 billion dirhams, while the domestic consumption volume since the beginning of this year has reached two million tonnes.

The growth rate in the building and construction sector in the Middle East is the highest globally, and the local one is expected to record an average annual growth rate of 6.8% annually for 2022. The value of the construction sector in the GCC countries is estimated at $1.6 trillion, with a record more than 21,000 active projects by the end of 2022, according to data issued by BNC.


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