An initiative by steel makers of the GCC states to persuade their governments to impose protective duties on cheap imports of the metal has made progress and a decision is expected soon, Naushad Ansari, CEO of Jindal Shadeed Iron and Steel (JSIS), has said. “We have made substantial progress and the government is very sympathetic towards this. It has already been discussed between the GCC states. GCC decisions do not happen very fast because everybody has to be on the same page, but I know for sure Oman’s Ministry of Commerce and Industry has made positive recommendations and we are hoping within a matter of months we should have some results,” he added.
Ansari said Chinese steel was currently selling at the right price, adding that, today he “was not much worried about China, but Iran, which was selling at much lower prices because they want more dollars. Commonwealth of Independent States (CIS) has had substantial currency devaluation, so they can offer products at lower prices. Turkey is the main supplier of rebar (reinforcement bar)”.