According to Saeed Al-Rumaithi, CEO of Emirate Steel Arkan and Chairman of the UAE Steel Producers’ Committee, steel demand in the country surged from approximately 2.13 million tonnes in 2022 to about 2.5 million tonnes in 2023.
The UAE saw a 15% increase in steel demand in 2023, driven by factors such as sustained oil prices, a thriving construction sector, and robust trade. Emirate Steel Arkan, which controls 60% of the UAE steel market, expanded its exports to over 70 countries. Al-Rumaithi emphasized the company's strategic vision to explore industry partnerships with global players, including Japan, to further enhance its position as a leading steel producer and exporter.
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