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Steel demand to rise 31%
- Wednesday, October 04 - 2006 at 06:57
Demand for iron and steel in GCC countries will surge 31% to 19.7m tonnes by 2008 from 15m tonnes in 2005, on increased demand from construction projects for building materials, according to a report by the Gulf Organisation for Industrial Consulting cited by Reuters. Some developers estimate that strong demand has pushed the costs of steel and other building materials up by 20%-25% in the past year.
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James McInerney, News EditorWednesday, October 04 - 2006 at 06:57 UAE local time (GMT+4)
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This article was updated on Wed Nov 29 2006.
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