Editorial – January 2024 :
Middle East & North Africa (MENA), the fastest growing region as far as infrastructure development is concerned, is a very prominent region for iron & steel industry as well. It imports huge quantities of finished steel from the global sources and furthermore, the steel industry in this region is on the upswing and is trying to support its evergrowing needs for infrastructure development process. The major trade partners of this region are China, Turkey, CIS countries etc. Though the logistics between this region and India is quite friendly, India is not able to push huge steel quantities there. Matching international prices and deliveries is always a challenge. On the geopolitical scene, all is not well in the Middle East. As we know, the Ukraine – Russia war is going on for more than two years and still there are no signs of ending it. Even though the war is being fought between only two countries, many other countries including the global big powers are indirectly involved in it. It has not only affected the steel exports from Ukraine and Russia into the middle east, but also the sea routes around those countries and the international trade. Further, the Israel-Hamas fight which erupted in October 2023, also has many dimensions. Many Middle East countries have been openly involved in the fight and this has directly impacted the infrastructure. development process in the region. Considering the importance of MENA region, for the last few years, Steelworld is publishing and distributing a special issue devoted to the industry in MENA region and it is very well received by the industry Also it is invited to most of the metallurgical trade shows in the region as Media Partner. This ensures its continued connect with the iron & steel sector in the region. I am happy to share that in a recent survey conducted by the organisers of ‘SteelFab Expo, (biggest steel expo in the MENA region) Steelworld emerged as the most popular trade magazine. I feel this is the result and the reward for our adoption of digital platform which substantially enhanced ‘Steelworld’s industry penetration in the region and it’s sustained presence in the region.
Today, the situation in the Middle East is quite fluid and it has naturally affected the iron & steel industry in the region. We can only hope that the geopolitical situation surrounding MENA region improves and the infrastructure development. process in the region continues smoothly. Also, we should look forward to more trade between India and the MENA region, which will bring these regional economies closer. Apart from supplying finished steel, India can supply steel plant equipment, technology, technically qualified manpower, top management personnel etc., not to forget the training and research facilities!