UAE’s Emirates Steel’s exports reach 56 markets in 2020-21

UAE’s Emirates Steel’s exports reach 56 markets in 2020-21

Emirates Steel recorded a nearly 50 per cent increase over the past two years in the number of its export markets in Europe, America, Asia, and the Middle East and North Africa. The company is the largest producer of heavy and jumbo sections and the only producer of hot rolled sheet piles in the region. It is only the fourth steelmaker in the world to receive the ASME accreditation to produce nuclear grade rebar. In October last year, the company completed its merger with Abu Dhabi-listed construction company Arkan Building Materials. The expansion of Emirates Steel’s export footprint to 56 countries in 2021 compared to 38 in 2019 is part of the company’s strategy to diversify its sources of revenue through its marketing channels, improve its agility and enhance the competitiveness of local products under the unified brand identity of ‘Made in the Emirates.’ In 2021, Emirates Steel’s exports represented 45 per cent of its total sales volumes, with the balance sold within the UAE, where the company maintains a 60 per cent market share. Emirates Steel has a capacity of 3.5 million tonnes per annum, which is enough to meet the domestic market’s needs of high-quality rebar, wire rod,