Speaking at the Global Steel Summit, Dr. Salam Al Sharif, President of Sharif Metals Group, said that the extra 7% increase in coil steel production in the first half of this year was particularly significant in the aftermath of the earthquake in Turkey. He also said that the adoption of sustainable energy has led to a reduction in certain charges, which has expanded capacities.
Salam Al Sharif said that unused steel prices will be announced by Emirates Steel Arkan. Responding to a question on pricing, Hamad Al Jneibi, Senior Category Procurement Specialist at Emirates Steel Arkan, said that the rates are shaped depending on supply and demand dynamics, which are impactful. However, no further information on detailed pricing was provided.
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