United Steel Industries concludes first export shipment
United Steel Industries (USI) has concluded its first export shipment, 30,000 tonnes of wire rod to Europe, the firm tells Kallanish. The first vessel was shipped in mid-February. The firm expects more orders soon from Europe and East Africa.
The Fujairah-based re-roller commissioned wire rod production in 2019. It is now producing 30,000-35,000 t/month of the product. Billet feedstock is sourced mainly from CIS suppliers.
USI produces 5.5-16mm diameter wire rod in SAE 1006, 1008, 1010, 1012 and 1018 grades. Overall capacity, including rebar, will eventually be 1.1 million tonnes/year. The firm has obtained necessary rebar certifications and is welcoming enquiries, but it not producing at present due to market trends.
In December 2019 USI signed a five-year contract to procure a 24MW gas-battery hybrid power solution from energy services provider Aggreko (see Kallanish passim). This drastically reduces carbon footprint and makes USI the only "green" steel producer in United Arab Emirates, the firm says.
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Anonymous
Very good overview of the weekly steel market.
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