The UAE will see rapid growth in metals consumption over the coming years after a slew of construction projects. Production growth will also be high given expansion plans by the major players and thus the UAE will remain a major metals exporter in the region.

BMI Industry View 7

SWOT 8

Metals SWOT 8

Industry Forecast 9

Aluminium: Rapid Growth In Consumption 9

      Consumption: Growth Bolstered By Expo 10

      Balance: Growth In Aluminium Exports & Bauxite Imports 10

      Table: Aluminium Production & Consumption (United Arab Emirates 2010-2018) 11

Steel: Increasing Reliance On Imports 11

      Table: Steel Production & Consumption (United Arab Emirates 2010-2018) 14

      Table: Steel Industry Historical Data (United Arab Emirates 2005-2012) 14

Regulatory Development 15

Highly Favourable Business Environment To Remain 15

      Table: UAE - Political Table 16

Commodities Forecast 17

Commodity Strategy 17

      Ferrous Metals: 17

      Steel: Prices To Remain Subdued 19

      Non-Ferrous Metals: 20

      Aluminium: Price Strength To Continue In Q314 20

      Copper: Further Decline By Year's End 21

      Lead: Constructive Price Outlook 22

      Nickel: Moderation To Continue 23

      Tin: Upside Ahead 24

      Zinc: Consolidation Before Multi-Year Gains 26

      Table: Select Commodities - Performance & BMI Forecasts 27

Steel: Prices To Head Higher From 2016 28

      Table: BMI Steel Price Forecast 28

      Short-Term Outlook (three-to-six months) 28

      Long-Term Outlook 29

      Production: Chinese Rationalisation Measures To Bite 30

      Consumption: Slowing Demand Growth On The Horizon 31

      Burgeoning Chinese Exports Will Not Last 32

      Eurozone Growth Downgrade Highlights Long Road To Recovery 33

      Risks To Price Forecast 33

      Table: Steel Data & Forecasts 34

Competitive Landscape 35

      Table: Middle East - Largest Listed Metal Producers 35

Company Profile 37

Emirates Global Aluminium 37

Emirates Steel 40

Methodology 42

Cross Checks 42

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