During the opening ceremony of the Arab Steel Summit held in Dubai on October 26-28, the participants voiced their concerns over the high import billet and rebar tonnages coming into Arab countries. Domestic steel producers indicated that the import prices are so low that domestic products are unable to compete and they called on the relevant authorities to take action in terms of implementing antidumping duty measures against the high import tonnages.
At the first session of the meeting, Ahmed Al Dhaheri, vice president of projects and strategies of Emirates Steel, pointed out that, despite the billet and rebar capacity increases in most of the Arab countries, the import tonnages for these products are high. Mr. Dhaheri stated that the biggest billet and rebar importer, Turkey, accounts for 96.5 percent of billet and rebar imports to the United Arab Emirates. Dhaheri indicated that ex-works rebar prices are higher than retail and import prices in the region, adding that the retail rebar prices follow the same price trend as ex-CIS billet prices.
Mr. Dhaheri said that North African rebar and billet production capacity remains below consumption volumes, adding that the biggest share of imports into North African counties belongs to Spain, followed by Turkey. Finally, Dhaheri stated that Saudi Arabia accounts for 33 percent of steel consuming construction and infrastructure projects in Arab countries.
