UAE’s steel producers set up grouping in record year for industry

Dubai: A ‘UAE Steel Producers Committee’ has been set up at a time when the industry is having its best year in decades – and also facing massive challenges set off by supply disruptions from the pandemic breakout last year. Steel prices have surged more than 40 per cent in the last 12 months, bringing opportunities in its wake.

The Committee, registered under Abu Dhabi Chamber of Commerce, brings together 15 manufacturers with a combined annual production of 5 million tonnes plus. “The UAE needed such a grouping for the steel industry,” said Anil Tourani, Vice-Chairman of the Committee. Saeed Ghumran Al Remeithi – CEO of Arkan and of Emirates Steel, is the Chairman of the Committee.

“Because the industry needed direction on what to do next, which categories we should be doing better, whether we need more steel plants, etc.,” said Tourani, who is Managing Director of Taurani Holdings.

“When a group of like-minded entities are formed, it gives us a better platform to handle issues common to the industry.”