By 2020, the consumption of steel in MENA COUNTRIES TO REACH 70 MILLION. T
By 2020, steel demand in the Middle East and North Africa (region MENA) will reach 70 million tons, with an annual growth of 10%, the report says consulting company Frost Sullivan.
According to the document, in the long term, the steel industry in the region, especially in the Gulf countries will develop at a rapid pace due to the ambitious plans of the governments of these countries to the growth of their economies. The lion#39;s share of major projects planned in the road, rail sectors as well as in oil and gas and construction industries that will stimulate steel demand.
In turn, the growth of investment, both public and private, will contribute to the growth of the population, and increasing in connection with the demand for real estate.
In 2010, steel demand in the Middle East accounted for 27.3 million tonnes, while production was around 20 million tonnes, due to which the deficit was compensated by imports. In monetary terms net imports of steel products to the Gulf countries in 2011 amounted to $ 8 billion
Historically, the most heavily metallurgy was developed in Iran and Egypt, but there is now a shift towards the Persian Gulf as the leading steel producers.
Important source of raw material for the production of steel is hot briquetted iron availability due to the natural gas in the region. According to Frost Sullivan, the production of HBI in MENA countries at around a third of the global total.
