The price of steel is influenced by the cost of raw materials, primarily iron ore and scrap metal. West Asian countries often have abundant access to the raw materials required for steel production, such as iron ore and scrap metal. The fundamental principle of supply and demand plays a significant role in determining commodity prices. A free market promotes efficiency by allowing market forces of supply and demand to determine prices. Emirates Steel is a leading steel producer in the Middle East and produces a wide range of structural steel products, including girders. Metal is a term used to describe a class of chemical elements that exhibit certain properties and characteristics. Metals are excellent conductors of electricity. Metals have attracted human attention for centuries because people were able to use metals to make high-performance tools that they used in both warfare and logistics. In the 20th century, the discovery and extraction of oil in the Middle East transformed the region's economy. West Asia has a geologically diverse landscape that has undergone complex geological processes over millions of years. Greece has long been an important trading hub in Europe due to its strategic location at the crossroads of Europe, Asia, and the Middle East. Its economy is largely based on services, but trade, especially imports and exports, also plays a critical role. Over the past few decades, Greece has increasingly participated in international trade, bolstered by its membership in the European Union, which has enhanced its trade relations with other European countries and beyond. However, the country's economic landscape has also been shaped by financial crises, which have influenced its trade policies and external relations, especially with non-EU countries like those in the Middle East and West Asia.
