Demand is rising on UAE steel products
Bharat Bhatia, CEO of Conaris, the UAE’s second-largest steel producer,
Said that the decision to raise tariffs on iron and iron bars imports from 5% to 10%, which began earlier this year, has enhanced the competitive advantages of the UAE-made iron products, which led to a significant increase in demand for them.
He explained that this step confirms the keenness of the Ministry of Economy and its awareness of the urgent need to support the local steel producers who have invested huge sums of billions of dirhams in this vital sector.
He added: UAE imports of iron are currently only from the GCC countries, but most of the projects in the UAE require iron products bearing the name “Made in the UAE” for a number of factors, the most important of which are the speed of delivery, the high reliability of local products, , As well as the preference of traders to use local steel products because they can get them around the clock seven days a week and the required sizes.
The current annual consumption of steel products in the UAE ranges from 3.2 to 3.5 million tons, while domestic steel production is 4 Million tons per year.
He expressed the hope that the concerned bodies will impose customs duties on pipe imports to the state also to support and protect local pipe and pipe manufacturers,Conaris exports 15% of its total production to the US and is currently expanding to new markets.