Emirates Steel Arkan announced its financial results for the Q1 2024, with revenues of AED 2.14 billion and EBITDA of AED 294 million. The Group’s positive performance in the first three months of the year demonstrates its resilience and efficiency amidst challenging market conditions. During the quarter, the Group’s performance was supported by a strong
Emirates Steel Arkan reports AED 2.14 billion revenue in Q1 2024 Read More »
ArcelorMittal increased its steel production by 5.1% quarter-on-quarter – to 14.4 million tons in the first quarter of 2024. The figure decreased by 0.7% compared to the same period in 2023. This is stated in the quarterly report published on the company’s website. Iron ore production for the last quarter amounted to 10.2 million tons,
ArcelorMittal’s production increased to 14.4 million tons of steel in Q1 of 2024. Read More »
In April 2024, Ukraine’s iron ore exports increased by 2% compared to the previous month, reaching 3.41 million tons. Compared to April 2023, exports increased twice. This is according to data from the government customs department. Ukraine’s revenues from iron ore exports last April amounted to $265.23 million, a decrease of 14.6% on a monthly
Ukraine’s iron ore exports increased 2.3 times in January-April 2024 Read More »
In April this year, China’s finished steel exports amounted to 9.224 million mt, down 6.7% month on month, according to the latest data released by China’s General Administration of Customs (GACC). China’s finished steel exports in March this year had reached the highest level since July 2016, but this trend did not continue in April.
China’s steel exports up 27% in January-April 2024 Read More »
Etihad Rail has concluded a partnership agreement with Oman Rail and Mubadala, to implement the Omani-UAE railway network project. The agreement was signed during the visit of Sultan Haitham bin Tariq, Sultan of Oman, to the UAE, where agreements were signed to award contracts for civil and construction works, award systems and integration contracts for
Signing an agreement to implement the Emirati-Omani railway network project Read More »
The General Authority for Foreign Trade announced the start of an anti-dumping investigation against the Kingdom’s imports of a steel or stainless steel pipe product with longitudinally welded circular sections originating from or exported from the People’s Republic of China and Taiwan. The Authority said in a statement that the decision to begin the investigation
The Ordinary General Assembly of the Iron and Steel Company for Mines and Quarries approved the company’s estimated budget for the next fiscal year 2024-2025. According to a company disclosure, the general assembly decided to amend the company’s estimated budget to target a surplus of 300 million pounds, provided that the quantity and value of
Jordan Steel Company announced rebar prices for May 2024, an increase of between 20-35 dinars over last month’s prices. The prices for Grade 60 EXW, between 450 and 453 dinars per tonne, excluding sales tax. However, with sales tax, it is between 535 and about 540 dinars per tonne. Grade Price without tax Price
Jordan Steel announces the prices of rebar for May 2024 Read More »
Demand for steel in India in fiscal year 2024/2025 (ending in March 2025) will grow by at least 8-10% compared to the previous fiscal year. This was stated by T.V. Narendran, Managing Director of Tata Steel, BusinessLine reports. He notes that India’s transformation into a net importer is temporary. India’s steel imports are mainly raw
Steel demand in India is expected to increase by 8-10% in FY 2024/25 Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 36,500 – EGP 40,500. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 40,500, Egyptian Steel EGP 40,600, Ashry Steel EGP 39,500. Garhy Steel EGP 40,000, Misr Steel EGP 37,300,
Rebar prices in Egypt May 07, 2024 Read More »
In March this year, Turkey’s wire rod exports amounted to 136,650 metric tons, down by 5.5% compared to February and up by 319.1% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $84.48 million, decreasing by 6.9% compared to the previous
Turkey’s wire rod exports increase by 172.3% in Q1 2024 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $385/ tonne, $2 down compared to last week’s prices. and iron ore prices $117/ tonne, $2 down compared to last week’s prices. While the prices of billets ranged between 505– 530 Dollars per tonne, while it was between 500– 530 dollars
Steel prices in the first week of May 2024 Read More »
SMS group’s JCO® forming press enables precise forming of longitudinally seam-welded pipes. With advanced automation and control systems, the press ensures the production of diameters ranging from 16 to 64 inches and wall thicknesses exceeding 45 mm. This flexibility enables steel manufacturers to cater to diverse market demands while maintaining quality standards. Special sensors integrated
Oil prices fell by 1% at the end of trading on Friday, May 3, 2024, amid fears of supply shortages with the possibility of OPEC+ continuing production cuts. It also recorded strong weekly losses. The two benchmarks (Brent and West Texas Intermediate) recorded their largest weekly losses in 3 months due to uncertainty about demand
Oil prices drop 1% and record strong weekly losses Read More »
In March this year, Turkey’s rebar export volume increased by 8.8% year on year and decreased by 23.8% month on month to 227,559 metric tons, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these exports totaled $135.59 million, down 7.04% year on year and 24.3% month on month. In
Turkish rebar exports up 8.9% in January-March 2024 Read More »
We received with great sadness the news of the passing away of one of the pioneers and founders of the modern steel industry in the world Mr. Gianpietro Benedetti – Chairman of Danieli Group On behalf of the steel family in the Arab countries, the Arab Iron and Steel Union shares the grief of the
A Founder of the Modern Steel Industry Passes Away Read More »
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK), in March this year Turkey’s foreign trade deficit decreased by 12.4% to $7.34 billion compared to March 2023. In the January-March period this year, Turkey’s foreign trade deficit went down by 41.5% year on year to $20.34 billion. In March, Turkey’s
Turkey’s steel export value up 19.1% in January – March 2024 Read More »
South Korean steelmaker POSCO started maintenance of blast furnace No. 4 in Pohang in late April and plans to resume production at this unit at the end of June this year, Kallanish reports. Investments in the modernization of BF No. 4 will amount to KRW 530 billion ($385 million). The overhaul is aimed at restoring
POSCO starts modernization of blast furnace No. 4 in Pohang Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 37,500 – EGP 40,500. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 40,500, Egyptian Steel EGP 40,500, Ashry Steel EGP 39,500. Garhy Steel EGP 40,300, Misr Steel EGP 37,500, El
Rebar prices in Egypt May 01, 2024 Read More »
Ezz Steel Company announced price stability starting May 1, 2024 for the second month in a row. Prices for rebar were EGP 40,700 per ton and flat steel at EGP 41,700 per ton. EXW, including value-added tax. Statement including VAT Rebar 40,700 Flat Steel 41,700
Egypt: Ezz Steel announces the prices of rebar and flat steel for May Read More »
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Protected: Arab Steel Magazine March – April 2024 Read More »
Emirates Arkan Company announced that it will keep unchanged the prices of rebar for May production (10-40 mm) at 2,744 dirhams ($747) per ton CPT Abu Dhabi and 2,752 dirhams ($749) per ton CPT Dubai, Sharjah and the Northern Emirates. The above prices do not include 5% VAT. The factory’s decision to keep prices unchanged
Emirates Steel Arkan keeps rebar prices stable despite market challenges Read More »
Saudi Iron and Steel Company (Hadeed) has announced that it will maintain current prices for rebar and wire rod for its May output, marking the third consecutive month of price stability. The price of rebar (12-32 mm) will remain at 2,350 riyals ($626) per ton. While wire coils (6.5-16 mm) will continue to be offered
Saudi Iron and Steel Company announces rebar prices for May without change Read More »
HSBC expects the average price of iron ore to rise above $100 per ton this year, despite the real estate crisis in China hurting the outlook for steel demand in the country. Howard Lau, an analyst at the bank, said: We do not expect a significant increase in iron ore production by the major producers,
HSBC: The average price of iron ore will exceed $100 in 2024 Read More »
The meeting of the 128th regular session of the Board of Directors of the Arab Iron and Steel Union and the 57th regular session are scheduled to be held during the period May 19-20, 2024 in the city of Algiers – Republic of Algeria at the Eurasian Hotel – Algeria at the invitation of the
Al Yamamah Steel Industries Company announced the start of commercial operation of the first phase of the expansion of the Jeddah Pipe Factory during the current month of April. In a statement today on Tadawul, the company expected that the financial impact of the expansion of the Jeddah Pipe Factory would be reflected on the
According to the prices announced in the global steel markets, scrap prices amounted to $387/ tonne, $3 up compared to last week’s prices. and iron ore prices $119/ tonne, $2 up compared to last week’s prices. While the prices of billets ranged between 500– 530 Dollars per tonne, while it was between 500– 540 dollars
Steel prices in the fourth week of April 2024 Read More »
The Iron and Steel for Mines and Quarries announced that it achieved total sales in the month of last March amounting to 34.242 million pounds. The company explained, in a statement to the Egyptian Stock Exchange today, that sales of Bahariya Oasis mines during the month of March amounted to 34.232 million pounds. The company
Egypt: Iron and Steel for Mines and Quarries sells worth 34.24 million pounds in March Read More »
Emirates Steel Arkan (ESA), one of the largest publicly traded steel and building materials manufacturers in the region, announces its recognition as a 2024 Steel Sustainability Champion by the World Steel Association (worldsteel). This prestigious accolade, now in its seventh year, celebrates companies showcasing exemplary commitment to sustainable development within the global steel industry. Emirates
Emirates Steel Arkan Recognized as “2024 Steel Sustainability Champion” Read More »
The Arab Iron and Steel Union held the second meeting of the Technical Committee on April 21-22, 2024 in Jeddah, Kingdom of Saudi Arabia, at the Shangri-La Hotel – Jeddah. At the invitation of the Saudi Iron and Steel Company – Hadeed. During this meeting, the technical data collected from Arab steel companies was studied