Forced to operate in conditions of lower consumption, severe competition caused by oversupply and higher production cost, MENA steel producers are aiming to protect their market share from imports.
It became the major topic for discussion during the Arab Steel Summit 2016 held in Dubai this week. Protection from cheap imports turned to be even a more burning issue this year due to a number of reasons.
The most important one is a global production surplus coupled with anti-dumping measures in a number of countries, which caused cheap imports, especially from China, to flood the MENA market. “The steel market is no more a demand market but a supply one,” Secretary General of the Arab Iron and Steel Union Mr. Mohamed Laid Lachgar said during his opening address.
Concerns about imports appear amid a slowdown in steel consumption in the GCC region and pressure from foreign suppliers.