Saeed Ghumran Al Rumaithi, CEO of Emirates Steel Group Arkan, confirmed that the UAE is considered one of the few countries recording growth in demand for iron in light of the current global circumstances, indicating the company’s keenness to stabilize iron prices in the local market.

Al-Rumaithi explained that the local market recorded an increase in demand for value-added iron products such as S600 steel and pivot plates, especially during the last quarter of 2023, which recorded sales of 450 thousand tons of iron in the local market, while the company recorded growth in sales. Iron in 2023 by 14% compared to 2022.
He revealed that the company’s share in the local market ranges between 60 and 65%. He stated that the performance of the building materials unit was outstanding in 2023, as the profits it recorded doubled by 116% compared to 2022.