ABU DHABI: Emirates Steel, the largest steel producer in the United Arab Emirates, sees challenges in 2019 including a slowdown in the regional construction sector, chief executive Saeed al-Remeithi said on Tuesday.

These challenges were also due to a surge in iron ore prices, a drop in sales prices, market volatility and market protectionism, he added in a statement.

Emirates Steel's revenue in 2018 was 7.5 billion dirhams  ($2.04 billion), up 15 percent from a year earlier, the company said.

Copyright Reuters, 2019

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