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Rays of recovery - ESI sees stabilization of steel demand in UAE

Gulf news reported that according to Abu Dhabi based Emirates Steel Industries, demand for steel in the UAE in 2009 has fallen 40% on the year so far due to the slowdown in the construction sector but for now, demand seems to have stabilized.

Mr James White told Gulf News by telephone that "Abu Dhabi in 2009 is showing strong demand, but demand in Dubai is down. My monthly sales are running at roughly double the monthly average for 2008. The reason is we have a new capacity and a competitive cost structure which allows us to displace imports.”

Mr Hussain Al Nowais chairman of ESI, quoting ESI's own estimates, added that UAE steel demand is expected to fall to about 3.5 million tonnes in 2009 from around 5.5 million tonnes in 2008,.

He said demand for steel in Abu Dhabi continues to be strong due to its commitment to its infrastructure projects.

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