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 »
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 …
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 …
The Arab Iron and Steel Union is scheduled to hold the second meeting of the Union’s Technical Committee on April 21-22, 2024 in Jeddah, Saudi Arabia, at the Shangri-La Hotel – Jeddah. At the invitation of the Saudi Iron and Steel Company – Hadeed. During this meeting, it is scheduled to study the technical data …
Arab Iron and Steel Union holds the second technical committee meeting in Saudi Arabia Read More »
The Board of Directors of the General Authority for Competition approved the completion of the economic concentration process between the Saudi Iron and Steel Company – Hadeed and Al Rajhi Steel Industries Company – Al Rajhi Steel. The authority explained in its account on the X platform. The approval was made after the Council reviewed …
The profits of the Riyadh Steel Company, which is active in the steel industry and the sale of scrap, rose to 11.1 million riyals by the end of 2023, compared to 5.1 million riyals achieved during the same period in 2022. Summary of financial results (million) Item 2022 2023 Change Revenues 156.10 134.20 (14.0 %) Total income 16.31 …
Riyadh Steel’s profits increased to 11.1 million riyals by the end of 2023 Read More »
The Saudi Iron and Steel Company (Hadeed) decided to keep the prices of rebar and wire stable for April, for the second month in a row. The company will continue to provide rebar (12-32 mm) at a price of 2,350 riyals ($626) per ton and wire rod (6.5 mm to 16 mm) at a price …
Saudi Iron and Steel Company announces the stability of its rebar for April Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Kingdom of Saudi Arabia was recorded in February 2024.
National Committee for the Iron Industry announced that it held its first meeting and elected Mr. Bandar bin Abdullah Al-Salim as Chairman and Mr. Jassim Bin Mohamed Al Abbas as Vice-Chairman for the session (1444-1447).
Rebar prices continued their continuous decline after a wave of increases, the largest in iron prices in the Kingdom during the past three years. The lowest decline in rebar prices during January was 14.5% for 8 mm national rebar, whose price fell from 3212.92 riyals in January 2023 to 2747.05 riyals in January 2024. A …
Saudi Arabia: Rebar prices fell by 14.5% within a year Read More »
The profits of Watani Steel, which works in the production and manufacture of iron blocks and rebar, decreased to 4.2 million riyals by the end of 2023, by 91%, compared to the profits of 49.6 million riyals that the company had achieved last year. The company said that the reason for the decrease in profits …
Watani Steel’s profits decreased to 4.2 million riyals (-91%) by the end of 2023 Read More »
Today, Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing, witnessed the launch ceremony of the Banan project in the Al-Fursan suburb of Riyadh, in the presence of Mohammed bin Saleh Al-Bati, CEO of the National Housing Company, and Hisham Talaat Mustafa. Chairman of the Board of Directors of “Talaat Mustafa Group – …
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 148.1 million tonnes (Mt) in January 2024, a 1.6% decrease compared to January 2023. Crude steel production by region Area Jan 2024 (Mt) % change Jan 24/23 Jan-Jan 2024 (Mt) % change 24/23 Africa 2.0 16.3 2.0 16.3 Asia …
According to the General Authority for Statistics, the average price of a ton of rebar in the Kingdom of Saudi Arabia was recorded in January 2024. You do not have permission to access the content If you have a valid account on the site, Login | or Signup Username Password Login Types of packages Free …
Al Yamamah Steel Industries Company, which manufactures metal products to serve the construction, electricity and communications sectors, achieved profits of 29.5 million riyals at the end of the first quarter ending in December 2023. This compared to losses of 41.9 million riyals achieved during the same period in 2022. Quarterly comparison (million) item Q1 2023 …
In December 2023, Turkey’s steel exports to the Gulf region saw a 6% decline compared to the previous month, according to the Turkish Statistical Institute (TUIK). Total steel exports for December amounted to 11,710 tons, compared to exports of 12,467 tons in November. The value of exports decreased by 4%, reaching US$9.1 million. Turkey’s steel …
Türkiye’s steel exports to GCC decline in December 2023 Read More »
The Saudi Iron and Steel Company (Hadeed) announced the official prices for selling rebar for February at 2,350 Saudi riyals per ton ($627 per ton), an increase of 25 Saudi riyals per ton ($7 per ton) compared to the level of January. The company resorted to this increase to balance costs. Despite the sufficient local …
The Saudi Iron and Steel Company announces an increase in rebar prices for February Read More »
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 135.7 million tonnes (Mt) in December 2023, a 5.3% decrease compared to December 2022. Africa produced 1.9 Mt in December 2023, up 17.7% on December 2022. Asia and Oceania produced 96.4 Mt, down 9.7%. The EU (27) produced 9.1 …
World crude steel production declined in December Read More »
Rebar prices in the Gulf region witnessed an increase. Emirates Steel Arkan increased its price by AED 92/t ($25/t) to AED 2,689/t ($732/t) CPT Abu Dhabi and AED 2,696/t ($734/t) CPT Dubai, Sharjah and northern emirates. Bahrain’s Unirol raised offers by BHD 5/t ($13/t) to BHD 250/t ($662/t) EXW. Saudi Iron and Steel Company (Hadeed) …
The rebar market in the Kingdom of Saudi Arabia witnessed a decline in prices in 2023 compared to the year 2022, as the price of a ton of rebar in December reached 2891.97 riyals, a decline of 18 riyals, a decline of 0.6% compared to the month of November, and a decline of 13.1% compared …
A report on rebar prices in Saudi Arabia by the end of December Read More »
The Royal Commission for Jubail signed a memorandum of understanding with the Brazilian mining company Vale to develop an iron ore briquette project in the Kingdom. The memorandum of understanding was signed on the sidelines of the Future Metals Forum, which lasted for two days, during which the Brazilian company presented its ambitious plans in …
The losses of Al-Yamamah Steel Industries Company – Al-Yamama Steel -, which works in the manufacture of metal products to serve the construction, electricity and communications sectors, rose to 130.1 million riyals by the end of the year ending in September 2023, compared to losses of 26.7 million riyals achieved during the same period in …
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 145.5 million tonnes (Mt) in November 2023, a 3.3% increase compared to November 2022. Africa produced 1.8 Mt in November 2023, up 3.1% on November 2022. Asia and Oceania produced 104.8 Mt, up 2.2%. The EU (27) produced 10.6 …
World crude steel production increased by 3.3% in November 2023 Read More »
Khaled Al-Mudaifer, Deputy Minister of Industry and Mineral Resources for Mining Affairs in the Kingdom of Saudi Arabia, said that iron in the Kingdom is witnessing a very large increase in demand due to the major projects the Kingdom is witnessing with a value of more than 5 trillion riyals, indicating that the demand for …
Saudi Arabia: A significant increase in iron demand Read More »
Voting results on Tuesday showed that Riyadh won the right to host the World Expo 2030, in another diplomatic victory for a Gulf country after Qatar hosted the FIFA World Cup last year. The cities of Busan in South Korea and Rome in Italy competed with Riyadh to host the World Expo, which is held …
Saudi Arabia wins hosting of Expo 2030 World Exhibition Read More »
Deputy Minister of Industry and Mineral Resources for Mining Affairs, Engineer Khalid bin Saleh Al-Mudaifer, confirmed that the mining strategy in the Kingdom of Saudi Arabia will enhance the increase in demand for steel in the Kingdom during the next ten years. This came during his participation in the activities of the Arab Mining Conference …
Saudi Arabia mining strategy boosts steel demand for the next ten years Read More »
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 150.0 million tonnes (Mt) in October 2023, a 0.6% increase compared to October 2022. Africa produced 1.9 Mt in October 2023, up 3.5% on October 2022. Asia and Oceania produced 108.8 Mt, up 0.8%. The EU (27) produced 10.6 …
World crude steel production increased by 0.6% in October 2023 Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Kingdom of Saudi Arabia in October 2023 ranged between 2,678.39 and 4,032.55 Saudi riyals, with an increase of between 0.46% and 1.14%, with the exception of 6 mm rebar, with a decrease of 1.37% compared to September 2023 …
Average rebar prices in the Kingdom of Saudi Arabia Read More »
Saudi Pipe Company won contracts to supply steel pipes for oil and gas to Tenares Global Service in Uruguay, worth 105 million Saudi riyals. The company said in a statement to Tadawul Saudi Arabia, today, Wednesday, that the contracts were awarded and signed on November 8 for a period of 8 months. The financial impact …
The Saudi Basic Industries Corporation (SABIC), one of the largest petrochemical companies in the world, announced on Thursday that it had recorded a decline of about 17 percent in third-quarter revenues and a net loss. SABIC said in a disclosure that it recorded a net loss of 2.88 billion riyals ($768 million) during the three …
Saudi Arabia: “Hadeed” allocations cost “SABIC” 2.88 billion riyals Read More »