Steel demand in gulf countries is likely to rise with several mega projects planned in countries across the Gulf Cooperation Council (GCC).
These infrastructure projects are likely to fuel demand for steel and steel products, experts said at a recently concluded exhibition SteelFab 2020 held at Sharjah, according to the local media.
Steel consumption in the UAE grew at a Compound annual growth rate of 8pc in the 2016-2020 period. Of these, Dubai is the largest steel consumer in the GCC region.
Dubai is also set to host a 173-day expo starting Oct 20, 2020, for which, major infrastructure contracts worth $182mn were allocated at the SteelFab 2020.