Industry Conditions :
- As a result of US imposing steel tariffs last year, a lot of
the steel mills have cutback in production.
- China has been consuming a lot of steel for its local market
resulting in a huge inflow of steel being exported to china.
- Due to the cutback in production and rising demand in China,
steel prices are going up over the past 10 months.
- Projects have been increasing in the UAE which demand structural
steel items. Therefore local demand looks to be strong in the
coming years ahead.
- Dubai still remains a competitive market in the steel industry
as there is a lot of aggressive selling with low margins.
Article about the effect UAE market will
have on the rebuilding of Iraq(emphasis on building material)
April 18th, 2003
http://www.gulfnews.com/Articles/news.asp?ArticleID=84622
Article regarding an overview of the building and construction
sector in Dubai
http://www.tradepartners.gov.uk/building/dubai/profile/characteristics.shtml
The following meps site provides good insight of the worldwide
steel market in terms of price and consumption.
http://www.meps.co.uk
Articles relating to increase in steel prices
November 19th, 2003
http://www.gulfnews.com/Articles/news.asp?ArticleID=103302
March 12th, 2003
http://www.gulfnews.com/Articles/News.asp?ArticleID=80382
November 9th, 2002
http://www.gulfnews.com/Articles/News.asp?ArticleID=67931
October 29th, 2002
http://www.gulfnews.com/Articles/News.asp?ArticleID=67016
| Powerpoint Presentation of China’s consumption
of Steel |
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Mr. Anwar Wazdi of Dubai Ports Authority
presenting the Trophy of Appreciation to Age Intrade (received
by Mr. Jacob) |
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