Emsteel recorded a net profit after tax of AED 86.3 million in the first quarter, a decrease of 32.6% compared to AED 128.2 million. As of March 31, 2025, the group maintained strong liquidity, with available cash of AED 881 million, compared to AED 823 million as of December 31, 2024. The group’s operations performed …
Emsteel’s profits reach AED 86.3 million in the first quarter of 2025 Read More »
Al Gioshy Steel Group has concluded several new export deals to the Libyan and Sudanese markets, totaling more than 50,000 tons of rebar, as part of the implementation of reconstruction plans for both countries. Engineer Islam Al Gioshy, CEO of the group, stated that Al Gioshy Steel factories currently allocate approximately 20% of their production …
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Indian steelmaker Tata Steel increased steel production in India by 4.3% y/y – to 21.7 million tons in FY2024/2025 (ended March 31, 2025). The figure is the highest in the company’s history. This is stated in the company’s financial report. Consolidated steel production in the period increased by 3.3% y/y – to 30.9 million tons. …
Tata Steel increased steel production in India by 4% y/y in FY2024/2025 Read More »
Vale Oman signed a preliminary agreement with OQ Alternative Energy (OQAE) during Oman Sustainability Week, marking a major step in its strategy to decarbonize operations and transition to renewable energy in Oman. The agreement establishes a framework for powering Vale’s iron ore pelletizing plant in Sohar Port with renewable energy, supporting the future energy needs …
Oman : Vale Plans to Switch to Renewable Energy for Iron Ore Pelletization in Sohar Read More »
National Iron and Steel Company (Watani Steel) recorded a 41.53% decline in net profits in the first quarter of 2025, compared to the same quarter of 2024. The company’s results revealed a decline in net profits to SAR 2.87 million in the first quarter of this year, compared to profits of SAR 4.91 million for …
Watani Steel’s profits decline by 41.53% in Q1 of 2025 Read More »
Iron ore futures prices rose to their highest level in more than five weeks, driven by moves by the United States and China to reduce tariffs following a trade agreement. During Wednesday’s trading on the Dalian Exchange in China, the most active iron ore contract for September delivery touched its highest level since April 7, …
In a surprise move that sparked a wave of optimism in global markets, the United States and China announced a historic agreement to significantly and temporarily reduce tariffs on each other’s imports for an initial 90 days, while establishing a sustainable mechanism to continue economic and trade talks. The joint statement, issued after marathon negotiations …
The Arab Iron and Steel Union held its 130th Board of Directors meeting and 58th General Assembly on May 11 in Nouakchott, the Islamic Republic of Mauritania, with the participation of representatives from 45 iron and steel companies across the Arab world. The meeting was hosted by the National Industrial and Mining Company (SNIM), a …
Eng. Ahmed Ezz Elected as Chairman of Arab Iron and Steel Union (2025–2029 Term) Read More »
Rebar prices in Egypt this week ranged between EGP 33,700 – EGP 38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 36,300, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,000, Misr Steel EGP 33,000, El Komy Steel EGP …
According to the prices announced in the global steel markets, scrap prices amounted to $340/ tonne, $10 up compared to last week’s prices. and iron ore prices $98/ tonne, unchanged from last week’s prices. While the prices of billets ranged between 420 – 450 Dollars per tonne, while it was between 420– 450 dollars per …
The United States has set certain conditions for implementing its offer to reduce tariffs on steel imports from Britain, raising further doubts about the Chinese company Jingye Group’s ownership of British Steel. According to the framework agreement announced by US President Donald Trump and Prime Minister Keir Starmer, the United States will offer a quota …
Ayman El Ashry, Chairman of the Cairo Chamber of Commerce and Chairman of Ashry Steel Group, stated that during the Labor Day celebrations in the valiant land of Suez, attended by His Excellency President Abdel Fattah El Sisi, the new lines of the Arab Special Steel Factory (Arcosteel), affiliated with Ashry Steel Group, the only …
US President Donald Trump said his administration has reached an important agreement with the UK, noting that final details of the trade agreement will be announced within a few weeks. For his part, British Prime Minister Keir Starmer said that the trade agreement with the US is great and in the interest of both our …
United States and Britain Announce a Trade Agreement Read More »
Iron ore prices fell as China’s largest steel association confirmed it would proceed with production curbs, while long-awaited interest rate cuts by the People’s Bank of China failed to deliver a sustained improvement in market sentiment. Futures fell 1.5%, paring gains in iron ore prices, when the People’s Bank of China announced monetary easing measures, …
Iron ore prices fall amid Chinese production curbs Read More »
Despite the decline in rebar prices in the first quarter of 2025, the Egyptian market witnessed a double-digit decline in both production and sales, reflecting challenges facing domestic demand. According to official data issued by the Ministry of Supply and Internal Trade, Egypt’s rebar production in March 2025 decreased by 18% compared to February of …
Rebar production and sales decline in Egypt despite lower prices in Q1 of 2025 Read More »
In a strategic move toward enhancing industrial independence and reducing dependence on imports, Suez Steel, one of the largest iron and steel companies in Egypt and the region, announced the commencement of operations of two new factories, representing a qualitative leap in the production and technological capabilities of the heavy industries sector. The first factory …
In March this year, Turkey’s scrap import volume decreased by 9.4% year on year and went up by 7.4% month on month to 1.66 million metric tons, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these imports totaled $622 million, down 24.4% year on year and up 7.3% month …
Turkey’s scrap imports down 11.7% in January-March 2025 Read More »
Rebar prices in Egypt this week ranged between EGP 33,700 – EGP 38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 36,300, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,000, Misr Steel EGP 34,500, El Komy Steel EGP …
Emsteel Group, the UAE’s largest steel and building materials manufacturer, has achieved a significant milestone in its efforts to reduce industrial carbon emissions across the region. It successfully launched the first pilot project to produce sustainable steel using green hydrogen in the Middle East and North Africa (MENA) region in a strategic partnership with Masdar. …
UAE: Emsteel Leads Regional Sustainable Steel Production Efforts Read More »
India has proposed lifting tariffs on steel, auto parts, and pharmaceuticals, seeking to avoid US tariffs imposed and suspended by President Donald Trump for three months, according to people familiar with the matter, Bloomberg reported. The sources said the proposed tariff exemption would apply to a specified amount of imports, and after that limit, imported …
The Iron and Steel Mines and Quarries Company announced total sales exceeding EGP 131 million during the month of March. The company stated in a statement to the Egyptian Exchange that sales from the Bahariya Oasis mines during March amounted to EGP 130.98 million. It added that sales from the Beni Khaled-Samalut quarries amounted to …
Egypt: Iron and Steel Mines Company Sales Reach EGP 131 Million in March Read More »
Ezz Steel Company announced stability in prices starting from May 1, 2025 for the eighth consecutive month at EGP 38,200 EXW, including value-added tax. Statement including VAT Rebar 38,200 EGP 1 USD = 50.70 EGP
According to the prices announced in the global steel markets, scrap prices amounted to $330/ tonne, $6 up compared to last week’s prices. and iron ore prices $98/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 420 – 450 Dollars per tonne, while it was between 420– 450 …
According to a statement released by the Turkish Steel Producers’ Association (TCUD), in March this year, Turkey’s steel exports increased by 31.3% to 1.48 million mt, while the value of these exports rose by 18.6% to $1 billion, year on year. In the first quarter, the country’s steel exports rose by 18.5% to 3.79 million …
Turkey’s steel exports rise in March, imports decrease Read More »
EMSTEEL, announces that Saeed Al Ghafri, CEO of the Group’s steel business (Emirates Steel), is to step down after 19 years with the business. He will remain in post until the end of June to ensure a smooth transition. EMSTEEL will announce a successor in due course. During the interim period, Emirates Steel’s Chief Operating …
EMSTEEL announces planned leadership transition in steel business Read More »
In January-March 2025, the global steel company ArcelorMittal increased its net profit by 6.3% compared to the same period in 2024 to $805 million. Compared to the previous quarter, the figure almost doubled. This is stated in the financial report published on the company’s website. The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) …
ArcelorMittal earned $805 million in net profit in Q1 2025 Read More »
The Saudi Iron and Steel Company (Hadeed) has released its new long steel prices for May deliveries. The company reduced rebar prices by SAR 70 ($19) per ton, bringing the new price to SAR 2,280 ($607) per ton. In contrast, wire rod prices (6.5-16 mm) were increased by SAR 30 ($8) per ton, now set …
Saudi Iron and Steel Company (Hadeed) unveils revised long steel prices for May 2025 Read More »
Oil prices fell marginally during trading on Thursday, May 1, 2025, continuing their losses for the third consecutive session, amid fears of an economic recession threatening global demand. Indications of a potential increase in OPEC+ production and data showing a contracting US economy sparked a sharp sell-off during the previous session, sending West Texas Intermediate …
Oil prices fall for third consecutive session, reaching $61 Read More »
