Qatar Steel halts all exports

EXPORTS HALTED: Qatar Steel has stopped exports following a 45 percent increase in local demand. (Getty Images)

Qatar Steel, a unit of Industries Qatar, has decided to halt all steel exports after a 45 percent increase in local demand due to a construction boom, the firm said in a statement on the bourse website on Monday.

"Qatar Steel reached this decision in order to meet the increased demand on the local market that is witnessing an unprecedented construction boom, and affirmed that the increased demand on the local market reflects the strength of the national economy and the dynamism of the construction sector," the statement said. (Reuters)

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