According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3705.29 riyals in July 2021, up 0.04% compared to June 2021, which amounted to 3703.45 riyals, and an increase of 25.7% compared to the price of July in 2020, which amounted to 2947.7 riyals. As for …
Average prices of steel and cement in Saudi Arabia in July 2021 Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3703.45 riyals in June 2021, up 10.5% compared to May 2021, which amounted to 3351.19 riyals, and an increase of 43.8% compared to the price of June in 2020, which amounted to 2574.4 riyals. As for the …
Average prices of steel and cement in Saudi Arabia in June 2021 Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3351.19 riyals in May 2021, a decrease of -0.7% compared to April 2021, which amounted to 3377.76 riyals, and an increase of 26.8% compared to the price of May in 2020, which amounted to 2664.1 riyals. …
Average prices of steel and cement in Saudi Arabia in May 2021 Read More »
Although the situation in the steel sector remains challenging, as the demand and consumption cannot reach the pre-pandemic level, some signs of recovery are seen in Saudi Arabia. Saudi Iron & Steel Company (Hadeed SABIC), the key local steelmaker, managed to take advantage of strong pricing and improved its financial performance in Q1. Hadeed SABIC …
Hadeed SABIC capitalises on strong pricing, returns to operating profit in Q1 2021 Read More »
According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia increased in January 2021 to 3558.07 riyals, an increase of 39% compared to the price of January 2020, which amounted to 2550.2 riyals and an increase of 18% compared to the month of December 2020, which amounted …
Despite some signs of improvement in the demand and price situation, seen in H2, Saudi Iron & Steel Company (Hadeed SABIC), the key local steelmaker, was unable to reverse the negative trend in operational and financial figures. Like most GCC steel producers, The company recorded results in 2020 less than in 2019 due to the …
Hadeed SABIC posts weak results in 2020 due to Coronavirus Read More »
The average price of iron in Saudi Arabia recorded an increase of about 8% in the year 2020, equivalent to 2793.90 riyals, compared to the average price of 2585.80 riyals in 2019. The average cement bag also increased 5.1% in 2020, recording a level of 13.80 riyals for a bag weighing 50 kg, compared to …
SABIC highlighted its post-Covid-19 steel business strategy and the challenges in the steel market during its participation at the virtual Middle East Iron and Steel Conference. Addressing the conference, Salah Ahmed Al-Ansari, president of Hadeed, a fully-owned manufacturing affiliate of SABIC, said that the company took extra preventive measures across its facilities to ensure business …
SABIC highlights its post-Covid-19 steel business strategy Read More »
Being supported by the rapid rise in raw materials tags around the world, Saudi Iron and Steel Company (Hadeed SABIC) increased official offers for January long steel products. The ongoing global upward trend will likely trigger another price revision shortly. Hadeed SABIC announced new prices for January longs sales, increasing them by SAR 200/t ($53/t). …
Saudi Arabia : Hadeed Sabic hikes rebar and wire rod prices Read More »
Saudi Arabia’s’ National Industrial Development Center said the kingdom has 41 existing factories that produce steel at a capacity of 18 million tonnes. The industrial centre is developing a strategic plan targeting the localisation of new products that support supply chains of some industries such as the oil and gas, and shipbuilding industries, according to a …
KSA has 41 steel factories with 18m tonnes capacity Read More »
The average price of Reinforcing iron in the Kingdom of Saudi Arabia increased in October 2020 compared to the same month of 2019 for all sizes, up 12.25% – 15.01%, according to the data of the General Authority for Statistics in the Kingdom. Average prices monthly and annual changes in the KSA – October 2020 …
Average price of Reinforcing iron in Saudi Arabia in October Read More »
Saudi Arabia’s economy shrank 4.2% in the third quarter from a year earlier, government data showed on Tuesday, a smaller contraction than the second quarter when the economy was reeling from coronavirus-linked lockdowns. The economy expanded by 1.2% on a seasonally-adjusted quarter-on-quarter basis in the third quarter from a contraction of 4.9% in the previous …
Saudi economy contracts 4.2% in third quarter, improves from second quarter Read More »
The financial results of the Saudi Steel Pipes Company “Saudi Pipes” revealed today, Thursday, its shift to profit in the third quarter after the company recorded a net profit of 9.58 million riyals, compared to a net loss of 14.12 for the third quarter of last year. The company explained that its shift to profit …
Saudi Steel Pipe Co. records a profit of 9.58 million riyals in the third quarter Read More »
Saudi Basic Industries Corp (SABIC) 2010.SE, the world’s 4th-biggest petrochemicals firm, reported a 47% rise in third-quarter profit, beating estimates on higher sales and output, but warned it still faces price pressures for some time to come. SABIC reported a net profit of 1.09 billion riyals ($291 million) in the quarter that ended on September 30, …
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 156.4 million tonnes (Mt) in September 2020, a 2.9% increase compared to September 2019. Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production …
world’s production of crude steel rose 2.9% in September Read More »
Saudi Arabia’s imports of iron and steel in the first nine months of this year amounted to about 11.8 million tons, with a total value of about 23.4 billion riyals. According to statistical data issued by the General Customs Authority, which Al-Eqtisadiah has reviewed, Saudi imports of iron and steel decreased by 3.5 million tons, …
23.4 billion riyals is the value of Saudi Arabia’s imports of iron and steel in 9 months Read More »
The International Monetary Fund has revised its forecast of real GDP cuts in 2020 for all Gulf countries except Saudi Arabia, warning that the economic outlook is worsening for many emerging markets amid the Coronavirus crisis. In its latest report on the global economic outlook, yesterday, the Fund revised its previous forecast for Saudi Arabia, …
The IMF expects the return of economic growth in the Gulf in 2021 Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 156.2 million tonnes (Mt) in August 2020, a 0.6% increase compared to August 2019. Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production update. China produced 94.8 …
world’s production of crude steel up 0.6% in August Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 148.8 million tonnes (Mt) in July 2020, a 2.5% decrease compared to July 2019. Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production …
World crude steel production decreased by 2.5% in July Read More »
Saudi Arabia’s energy ministry is to offer assistance so that Neom, a $500 billion high-tech development that includes tourism and sport facilities on the Red Sea, can be completed on schedule, minister Abdul Aziz bin Salman said on Sunday. The 26,500 square km (10,230 square mile) development, first revealed in 2017 with a planned completion …
Saudi energy ministry to assist development of mega economic zone Neom Read More »
The average prices of some construction materials in the Kingdom recorded a remarkable increase in July, especially iron and cement prices, in conjunction with the increase in the value-added tax rate from 5% to 15%. The average price of rebar/tonne reached 2,947.69 riyals, which is the highest since April 2014, after it recorded 2,971.2 riyals/tonne, …
Saudi Arabia: Rebar touches 3000 riyals and rises to the highest level in 6 years Read More »
Saudi Basic Industries Corp (2010.SE), the world’s fourth-biggest petrochemicals firm, reported a third straight quarterly loss on Thursday and said low oil prices and weak global growth meant the second half would likely be similar to the first. SABIC reported a net loss of 2.2 billion riyals ($586.6 million) in the second quarter on impairments …
SABIC posts third straight quarterly loss, forecasts more of the same in second half Read More »
Saudi Arabia BAZ INTL.INDUSTRY CO. Capacity 2019 – 1000 tons COMPANY CRC BAZ INTL.INDUSTRY CO. 250
Saudi Arabia UNICOIL Capacity 2019 – 1000 tons COMPANY CR flats Galv-Steel Pre-painted UNICOIL 340 250 210
Saudi Arabia RAJHI STEEL Capacity 2019 – 1000 tons COMPANY EAF steel Semi-finished products Long products RAJHI STEEL 1000 850 1850
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 148.3 million tonnes (Mt) in June 2020, a 7.0% decrease compared to June 2019. Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production …
world’s production of crude steel declined 6.0% in H1 2020 Read More »
The value of Saudi Arabia’s oil exports dropped by 65% year-on-year in May, or a fall of nearly $12 billion, official data showed on Thursday. Compared with April, total exports – including non-oil exports of goods such as chemicals and plastics – decreased by 1.6%, or about $160 million, the General Authority for Statistics said. …
Saudi oil exports down by nearly $12 billion in May Read More »
The average prices of construction materials in Saudi Arabia recorded varying heights in the first half of 2020, as the rise rates ranged between 0.2% to 4.2%. According to the monitoring unit of the reports in the “Al-Iqtisadiya” newspaper, which was based on official data, “Steel” came the most expensive construction commodity, as its average …
Saudi Arabia : Steel, the highest rise in construction materials prices in H1 2020 Read More »
On July 21, the Gulf Cooperation Council Technical Secretariat (TSAIP) will hold a public hearing on imposing import safeguards on flat products, long products, angles, and pipes. It is noted that the investigation was opened in October last year. Steel industry members from the Gulf Cooperation Council countries are invited to participate. As the steel …
BAZINTL. INDUSTRY CO. Saudi Arabia BAZ international industry company is one of the pioneers of steel and metal industries that works by cold rolled process. Baz is one of the earliest industrial &commercial steel manufacturing companies Established in the kingdom of Saudi Arabia and the Arabian Gulf. In 1978, Sheikh Ahmed Mohamed Baghlaf- may Allah …