A Little Bit Info About Far East
Two UAE aluminum producers are increasing exports to the market of developing countries and other Far East to the Middle East orders offset the disruption caused by the riot.
Both Dubai Aluminium (DUBAL) and Emirates Aluminium (emal) has suspended all shipments to Syria, an important center for re-export of metals in the region. As a result, companies are directing more trade elsewhere.
Dubai securing buyers in global markets both productsDUBALdan emal it. Both companies have strong relationships:DUBAL are 50-50 partners in the emal with MubadalaDevelopment, a strategic investment company owned by the Government of Abu Dhabi.
Instability in Syria has dented the value of regional markets,which accounted for 38 percent of total exports for the two companies. Syria’s Mediterranean port of Latakia allow aluminum to be shipped into the country through the Suez Canal.
It is then transported by road to neighboring Lebanon, Iraq and Jordan. But the re-export status has been threatened by the increasing riot in recent months. Instability could accelerate the trend by manufacturers to enter the export market further aluminum.
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