Middle East trade of steel
It is Ramadan time now in Middle East and this has spurred steel mills over there to initiate sales procedures even at losses as per Middle East export, import and trade news. This is done in order to ensure that Middle East market for steel products does not cease to exist altogether in face of mounting global economic pressures.
Turkey and Middle East import and export of steel
As far as Middle East export, import and trade of steel products is concerned, Turkey occupies an important position. According to Middle East import and export information among major steel export partners of Turkey are Egypt, Libya and Iran. United Arab Emirates normally import remaining steel produce of Turkey.
Excess buying of Turkish steel by these countries has led to a strange situation whereby in spite of having abundant steel Turkey is unable to export it. Much blame in this case could be put on lessening of demand that has resulted from having more steel than these nations need. In fact port of Alexandria in Egypt is overloaded with ships that are carrying yet to be unloaded Turkish steel.
Middle East import of HRC and steel
Latest Middle East export, import and trade news has confirmed that Middle East countries are paying higher prices for HRC products that are imported by them from Asia and CIS. These prices have gone up as market for these products has improved. As of now prices are ranging from $400 to $430 on a per ton basis.
However, elsewhere in Middle East Egypt is importing steel in lesser quantities. Their basic aim is to keep stocks replenished. It also needs to be taken into consideration that demand for steel in Egypt is low at moment.
Middle East import of seafood
Middle East has become a new market for sea food from countries that have such products in abundance. India is worth mentioning in this regard as it is presently a prominent seafood import partner of Middle East.
Thailand and Middle East trade
Business establishments in Thailand are being encouraged to look at Middle East as a prominent export destination because of abundance of market opportunities in that country.
