Dubai - Mubasher: The deputy ruler of Dubai and the Emirati minister of finance and industry, Hamdan bin Rashid Al Maktoum, negated on Tuesday that there is aluminum dumping by Chinese manufacturers in the gulf markets.
The GCC markets are open for competition, and it imports some of the materials needed in aluminum manufacturing, Sheikh Hamdan said in answer to Mubasher’s question on the sidelines of the Arab International Aluminum Conference (ARABAL) 2015 in Dubai.
China is one of the biggest aluminum producers in the world, it has its markets and so does the GCC countries, and the race will always be in marketing the production, the minister indicated.
Sheikh Hamdan added that the gulf countries need to comprehend the intensity of the competition in global markets, and that the competitive advantage of the gulf industries is cheap energy, as factories tend to use gas and clean coal and limit the use of oil as an energy source.
Current aluminum prices are considered low, but such as any commodity it has its ups and downs, which requires producers to determine prices based on supply and demand.
