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Middle East Steel and Building Material Production to Expand to Flatten Booming Prices

JOHANNESBURG--August 29, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--The United Arab Emirates' state-controlled Emirates Industrial Bank (EIB) has said that the United Arab Emirates and partner members of the Gulf Cooperation Council (GCC) need to pursue a policy of expansion in the steel and building materials industries in order to reduce soaring prices in those sectors. The bank believes that expanding will enable the Middle Eastern countries to reduce imports and meet the fast developing demand. The bank is also concerned with a growing inflation curve that is being fed by speculation, high demand and the cost of construction.

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Industry Segment: Metals & Minerals
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