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MENA urged to increase steel output capacity to cut imports
Published in The Saudi Gazette on 06 - 10 - 2012

CASABLANCA – Arab countries need to build more steelmaking capacity to satisfy growing demand from investments in residential housing and infrastructure, and reduce their heavy reliance on imports, according to the Arab Iron & Steel Union (AISU)'s regional director in Egypt Adel Hussein.
Saudi Arabia, for example, has increased crude steel output from 4.67 million metric tons (m.t.) in 2008 to an estimated 6.9 million m.t. in 2012 but the country still suffers from a billet deficit and sees growth in rebar imports as new construction projects accelerate.
Local producers SABIC, Al Tuwairqi and Rajhi Steel will produce an estimated 7.4 million m.t. of billet in 2012, leaving an added requirement of 2.5 million m.t. to be imported, Hussein said at the AISU summit in Casablanca.
A similar situation can be seen in other Arab Gulf nations, he said.
The Gulf is forecast to invest some $285 billion in new construction projects between now and 2016, which will require around 47.5 million m.t. of steel, according to Hussein, meaning imports are likely to continue in the near future.
North Africa, meanwhile, could reverse a decade of stagnation as Algeria, Morocco and Tunisia are likely to see growth.
In 2001-02, the region's output was three times that of Gulf states but by 2012, estimated output was at 9.6 million m.t., 4 million m.t. below the Gulf's anticipated output of 13.6 million m.t.
North Africa's relatively low current steel per capita consumption is less than 100 kg, indicating significant room to grow for steelmakers.
In 2012, MENA countries are forecast to produce 23.2 million m.t. or 1.45 percent of the world's crude steel.
Meanwhile, the export offers from traditional European suppliers dropped further owing to slow rebar demand in the Middle East market at present. Rebar offers from South Europe are heard at around $620-635 per ton CFR, decreasing by about $10-15 per ton WoW and $35-50 in the past 15 days.
In Saudi Arabia, Qatar Steel rebar export offers to Saudi are steady at around $720 per ton CPT due to government price regulations. Turkish mills have been selling at around $590 per ton CFR Jeddah.
In UAE, amid slack rebar demand and less construction activity, Emirates Steel Industries (ESI) is reported to have dropped its rebar price by $40 per ton MoM. The new price is $630 per ton EXW for October production.
Qatar Steel is offering rebar in the UAE market at around USD630-635 per ton CPT.
Conares is heard as offering at $625-630 per ton EXW.
In Iraq, CIS rebars to Iraq are heard at around $680-690 per ton CPT Baghdad.
Turkish rebars are reported at around $690-700 per ton CFR, which reflects a price drop of around $15-20 per ton in the past two weeks.
In Lebanon, Turkish rebar offers are heard at around $605-610 per ton CFR but buyers are not ready to accept this price level.
In Turkey, Kardemir has reduced its prices by around USD20-25 per ton and is now offering at $590-595 per ton EXW amid poor domestic demand. Local mills are reported offering rebars at $585-600 per ton EXW.
ArcelorMittal Annaba was offering rebars at about $660-680 per ton EXW last week.
In Egypt, amid low inventories, rebar bookings are heard to have picked up.
Buyers have reported that Turkish rebars to Egypt are now offered at around $600-610 per ton CFR. The prices are forecast to drop by another $5-10 per ton in the coming weeks.
CIS rebar offers are reported at around USD600-605 per ton CFR.
Last week, local rebar producer prices were quite high when compared to CIS and Turkish material at around $640-660 per ton EXW. However, owing to the competition, they had to cut the prices by around $30-40 per ton and the new prices are heard at around $610-620 per ton EXW. – SG/Agencies


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