DUBAI: Emirates Steel CEO warns the inflow of Chinese and Turkish steel imports into the UAE at prices below an acceptable market value negatively impacts production volumes.
Abu Dhabi – Emirates Steel, the largest integrated steelmaker in the UAE, warned of the damaging effects from the flow of China and Turkey’s steel to the UAE markets, and called for protective actions to face the increasing competition and falling prices that will affect the UAE’s future industrial development plans.
The steel industry plays a crucial role in the UAE’s industrial development plans and therefore should be protected against unfair trade practices,” Saeed Ghumran Al Romaithi, CEO of Emirates Steel, said in a Press statement.
He warned that the inflow of Chinese and Turkish steel imports into the UAE at prices below an acceptable market value negatively impacts production volumes and profitability of UAE steel players, thereby causing damage to both existing and future steel expansion and investment projects and threatening UAE steel sector.
He added that the lack of strong customs protection in the UAE will lead to the escalation of the problem.
