UAE government attempts to reform its steel import regulation so as to stop dumping of steel products from overseas. So far, UAE is looking for expanding its steel market share. However, the consumption of steel rebar around 55% comes from low-price imports. Currently, the increasing building projects in Middle East are expected to benefit the local steel industries in this region. It is estimated that UAE rebar production capacity is nearly 3.6 million tons, much higher than its demand about 2.3 million tons. UAE believes that curtailed import of rebar could reduce impact on its oversupply rebar local mills after reforming steel import regulation.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67008&division=A4
