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- Dubai 04:56 06:10 12:26 15:53 18:37 19:52
The high cost of iron ore in the international market could adversely affect expansion plans of steel manufacturing units in the UAE, delivering a double whammy after the economic downturn deflated steel prices earlier.
Expansions at two leading steel mills in the UAE – RAK Steel and Al Ghurair Iron and Steel – are already on hold due to the sharp decline in the demand for steel.
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