Dr. Ankur Dana, CEO of Dana Group of Companies, was invited as Keynote Speaker at the world’s leading Steel and Raw Materials Conference 2022 by MMSteel Club held in Fairmont the Palm – Dubai, UAE.
MMSteel Club hosted the event in the United Arab Emirates. Some industry traders, leaders, and end-users gathered to discuss important topics such as long product trends in the GCC market, analysis of UAE and KSA long performance and future expectations, flat coated steel markets in the GCC – overview & trends, and more.
Dr. Ankur Dana answered a few of the questions –
- Can you describe the current market situation in your area?
The entire world, especially the US. European markets are currently sort of in a crisis, but compared to that, the Gulf markets, and GCC markets are doing much better than these other markets. However, the demand seems robust, although the steel prices have fallen during the last three months, that’s been the same case globally. Nevertheless, the demand in this region is continuing, especially with the projects being announced. So overall 2022, the first half of was great and Q, three of 2022 has also been okay so far. I feel GCC is pairing far way better.
- What perspective does your company have on the steel and raw materials industry?
Since the Pandemic started and things have changed, various capacities have come up in the long protects and even in the flat steel products, even in the UAE, Saudi, Oman, and the entire GCC for that matter. So we see a trend of increasing shift towards local producers. So the end users fabricators, they’re preferring to buy locally.
Most of the end users are fabricators, especially in the flat-coated industry. We have the roofing guys, we have the duct fabricators, so all these guys have shifted to local manufacturers as compared to their previous imports, which were largely from India and China. So that’s a good, interesting development for the local steel industry and it helps to have a healthy economy in this region.
- What are your company’s preliminary results for 2022 —- and what do they expect from 2023?
So 2022 Q1 has been good for Dana group. We have seen a 15% year-on-year growth compared to 2021, which is good. And primarily we have seen a large chunk of it has come from Saudi Arabia, where we export quite a bit of flat steel production to Saudi Arabia.
So we’ve seen quite a bit of prepainted and galvanized being exported to Europe. We have exported to various countries like Italy, Portugal, Spain, and Greece. So all these countries, we’ve seen healthy demand in that region immediately after the war was announced, and that was continuing for the last six months or so.
Reference link to listen to the interview in detail –
About Dana Steel-
Dana Steel is a leading manufacturer and exporter of steel coils, galvanized coils, gi sheets, sandwich panels, slitted gi coils, HDG / GI ( hot dipped galvanized steel coils ), AZ ( Aluzinc steel coils ), PPGI ( Prepainted Galvanized Steel coils ), PPAL ( Prepainted aluminum coils ) based in Dubai UAE and exporting to Saudi Arabia, Kuwait, Bahrain, Oman, neighboring GCC, Arab countries, Africa, Europe.
For Inquiries Click to Call 00971507983153Follow Us On Social Media #danagroups