Middle East Economic Survey
SABIC Projects Domestic Steel Demand Increase
Saudi Basic Industries Corporation (SABIC) expects an 8% increase in domestic demand for steel in 2010, with consumption nearing 6.4mn tons, it said on 17 March. The firm also reaffirmed its 2008 commitment to restrict the export of long-steel products in an effort to keep up with domestic demand. This is coupled with proceeding with an expansion project which aims to raise annual...