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. Somalia’s economy is largely based on agriculture, livestock, remittances, and a growing informal sector. Despite the challenges posed by decades of political instability, civil war, and limited infrastructure, Somalia has maintained a degree of resilience through informal trade networks and the support of its diaspora. Livestock, particularly cattle, sheep, and camels, forms the backbone of the economy, with the country being a major supplier of animals to the Middle East. Agriculture, especially the cultivation of bananas, sugarcane, and sorghum, is also a key sector, though it has faced challenges due to recurring droughts and lack of modern farming techniques.
