Saudi Arabia’s construction industry witnessed a strong uptick during the first quarter on the back of SR48.9 billion ($13.3 billion) worth of awarded contracts mainly in the energy and utility sectors, according to a report by the US-Saudi Arabian Business Council (USSABC).
SAIL (Steel Authority of India Limited) Durgapur, India, has awarded SMS group a turnkey contract for the supply of three new 110-ton converters for its steelmaking plant No. 2 to replace the converters SMS group supplied 25 years ago. The new converters will be rated for ten percent more volume.
MEPS forecasts global crude steel production at 1.82 billion tonnes, in 2019. This equates to an increase of 0.8 percent, compared with the figure recorded in the previous year. A slowdown in steel demand growth is expected, as economic conditions soften, worldwide. A number of factors are adversely affecting steel consumption, including political uncertainty, rising trade tensions and moderating business confidence.