Emirates Steel increases finished steel ouput by 45.4 percent in H1

UAE-based long steel producer Emirates Steel Industries (ESI) increased its finished steel output by 45.4 percent year on year in the first half of 2010, Arabsteel has reported. ESI's finished steel product sales rose by 30 percent during the same period.
 
In the first half of 2010, ESI's rebar production grew by 26 percent, while its wire rod output went up by a significant 283 percent, both compared to the corresponding period of 2009. In May, Emirates Steel achieved one million man hours without a lost time injury.
 
In the given period, ESI's finished steel product exports more than doubled as compared to the year-ago period. The company sells around 80 percent of its products to the local market, while the remaining output is exported to Jordan, Saudi Arabia, Kuwait, Oman, India, China, the Far East and Pakistan. Meanwhile, ESI has been able to significantly increase its local market share and has achieved a 30 percent year-on-year increase in domestic sales volumes in the first half of the year.