New US import tariffs could create opportunities for steel industry of GCC members
Time:Thu, 10 Apr 2025 09:19:34 +0800
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New US tariffs are triggering supply chain changes in the steel industry. Although the impact on Oman is expected to be limited, steelmakers, members of the Gulf Cooperation Council, are trying to improve their global competitiveness through new strategies.
Emsteel Group said that Chinese steel mills will find it difficult to enter the US market and turn to others, such as the Middle East, causing price competition. Therefore, Emsteel plans to further strengthen its layout in markets outside the US.
In order to balance the pressure from the US market, Ducab Metals Business will focus on purchasing raw materials from China at more competitive prices and improve its own price advantage.
According to expert analysis, the 10% tariff imposed on the Gulf Cooperation Council is much lower than other countries, so it is more attractive to investors and plays a key role in the supply chain.
