The Middle East steel and metals market is exhibiting a period of relative stability, with recent price trends showing a firming up supported by robust regional development projects. Hot-rolled coil (HRC) and rebar prices in the Gulf Cooperation Council (GCC) region are holding steady, influenced by consistent demand from ambitious infrastructure and construction initiatives, particularly in Saudi Arabia and the UAE. Key players such as Saudi Basic Industries Corporation (SABIC) and Emirates Steel Arkan are expanding capacities and diversifying product offerings to meet the growing domestic requirements. While regional geopolitical tensions introduce potential supply chain impacts, the immediate effect on trade flows has been largely managed. The focus remains on localization and self-sufficiency, ensuring a resilient supply base for ongoing mega-projects across the region.
