Demand for deformed bars down in Dubai

Gulf Construction March 2002
The demand for deformed steel in Dubai, UAE, has declined in spite of the spurt in the number of new construction projects, it was reported.
Consumption of steel bars has gone down from 90,000 tonnes per month in the last couple of years to around 70,000 tonnes, said a report.
The trend is expected to reverse this year, said Srinivasan Kannan, general manager of UBM Group, the holding company of Utmost Building Materials.
The market price of Turkish steel has crashed from Dh890-Dh900 ($242-245) per tonne to Dh840 ($228), the report said.
Kannan said the UAE market was split between GCC suppliers and those from Turkey in the ratio of 30:70.
There are chances of a shake-up in market shares among GCC producers owing to the new plants established in Abu Dhabi and Kuwait, the report said.
Turkey will, however, continue to be an active player as steel mills there are highly export-oriented. Among Turkish suppliers, the largest share is enjoyed by Izmir Demir Celik Sanayi (IDC), which offers steel to ASTM (American) and BS (British) specifications.

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