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The Middle East & North Africa are ones of the world’s
fastest growing metal and steel marketplaces.
The Middle East and Africa are experiencing very strong
growth in steel demand, to meet the requirements of investments in
oil and gas projects and expanding construction activity. Apparent
use reached 25 million tons in Africa and 44 million tons in the
Middle East in 2007.
Therefore, there is a massive imbalance between supply and
demand, means immense business opportunities for those investing in
increasing production in the region’s steel sectors, and lead to a
surge in demand for machinery, equipment and consumables needed by
steel. Fabrication yards have been kept busy at full capacity,
trying to meet a constantly increasing market demand for fabricated
steel, making the region one of the fastest growing and lucrative
markets for suppliers of the steel fabrication industry.
Facts & Figures
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-Major steel investments are currently being made in Egypt,
Saudi Arabia, Oman, Algeria, Libya, Iran, Nigeria and Turkey.
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-Main regions of growing steel demand (semis & rolled
steel): Middle East,
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CIS,
India, Southeast Asia and Eastern Europe.
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-Egypt is the third largest steel producer in the Middle
East.
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-With inexorable rising prices failing to dampen demand from
steel
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consumers,
the Middle East steel industry is gearing up for substantial
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growth.
The cost of steel has almost doubled (an increase of 91%) in the
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last
six months.
By 2010 the Middle East steel will be producing 35 million
tons per year, but will be consuming 73.3 million tons per year
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