A government official in Jordan recently denied allegations that there is steel monopoly in the Jordanian domestic market and stressed that authorities have not imposed any restrictions on steel imports.
Jordanian Ministry of Industry and Trade Secretary General Maha Ali told the local press that the ministry is only regulating the local steel market to protect the interests of both industrialists and merchants. The secretary general explained that the ministry has allowed steel imports from various countries based on local market needs and the quantities produced by local companies, stressing that the ministry aims at maintaining a balance in the market within fair competition.
According to Jordanian officials, Jordan imported 60,000 mt and 70,000 mt of steel in 2010 and 2009 respectively, while the average local market need is around 700,000 mt per year. In the meantime, annual production of Jordanian steelmakers exceeds 1 million mt.
Noting that the Jordanian government will work on stimulating housing and construction sectors, which will boost demand on steel, the secretary general said authorities have imposed fees on exporting scrap metal to enable factories obtain cheaper raw material.