Maghreb Steel , the largest producer of flat steel in Morocco, reported a 10% increase in revenues in the period from January to September 2024 compared to the same period last year, driven by strong domestic sales. The company’s sales revenues increased to MAD 3.854 billion (US$ 375 million) between January and September 2024, compared …
Maghreb Steel’s Revenue Increases in January-September 2024 Read More »
The Chairman of the Board of Directors of the Libyan Iron and Steel Company, Dr. Muhammad Al-Faqih, announced that the three direct reduction plants combined achieved unprecedented record figures in 2024. Al-Faqih explained in a visual statement on its Facebook page that the production of the three plants amounted to one million and 768 thousand …
Libyan Iron and Steel Company announces unprecedented production figures in 2024 Read More »
Saudi Iron and Steel Company (Hadeed) announced unchanged prices for long steel products for January 2025 deliveries. The price of rebar (12-32 mm) remained at SAR 2,400 ($639) per tonne, and wire rod prices (6.5-16 mm) will remain stable at SAR 2,440 ($649) per tonne. The above prices are based on Riyadh CPT, excluding 15% …
Saudi Iron and Steel Company (Hadeed) maintains rebar prices for January 2025 Read More »
Aamal Company, listed on the Qatar Stock Exchange, announced that its Board of Directors approved increasing its stake in Frijns Steel Construction Middle East by acquiring an additional 20% stake from a related party. According to the company’s statement on the Qatar Stock Exchange today, Tuesday, this deal comes in line with the company’s efforts …
ROSHN Group, a subsidiary of the Saudi Public Investment Fund, has laid the foundation stone for the Al-Manar project, its first integrated residential community in Makkah. The community is only 20 minutes away from the Grand Mosque, less than an hour from King Abdulaziz International Airport in Jeddah, and two minutes from the western gate …
Emirates Steel, part of the EMSTEEL group, has increased rebar prices for January 2025 production by AED 50 (USD 13) per ton. The revised prices are set at AED 2,660 (USD 724) per ton for deliveries to Abu Dhabi and AED 2,668 (USD 726) per ton for shipments to Dubai, Sharjah, and the Northern Emirates. …
Emirates Steel announces January 2025 rebar prices with an increase AED 50 Read More »
Mr. Walid Gamal El-Din, Chairman of the General Authority of the Suez Canal Economic Zone, initialed a contract with Mr. Rafik Boulos Daou, Vice President and Managing Director of Suez Steel Company S.A.E. This contract stipulates that the Suez Canal Economic Zone grants Suez Steel Company a commitment area within the Adabiya Port with a …
Egypt’s crude steel production in November decreased by 11% compared to last October to 842,000 tons, and by 9% compared to November 2023, accompanied by a decrease in the rebar production by 10% compared to last October to 763,000 tons, and by 3% increase compared to November 2023. As for local market consumption, rebar sales …
Egypt: Rebar production, consumption and prices to decline in November 2024 Read More »
The results of Al Yamamah Steel Industries Company, for the fiscal year ending on September 30, 2024, revealed the company’s turn to profitability compared to the net losses incurred by the company in the previous year. According to the company’s data, on “Tadawul”, today, Thursday, the company recorded a net profit of 70.8 million riyals, …
“Al Yamamah Steel” turns to profitability in the fiscal year ending in September 2024 Read More »
Building materials prices varied between increases, decreases and stability in Dubai in the third quarter of this year 2024, according to what was revealed by the “Dubai Statistics Center” (Dubai Digital). The prices of ready-mix concrete in its two parts: Portland regular Newton 40 increased by 2%, equivalent to 5 dirhams per cubic meter, to …
Report: Building materials prices in Dubai vary in Q3 of 2024 Read More »
Rebar prices in Egypt this week ranged between EGP 34,000 – EGP38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 36,800, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,800, Misr Steel EGP 35,000, El Komy Steel EGP 34,700, …
Sources in the iron and steel industry in Egypt said that the country’s steel production in the first 10 months of this year approached 9 million tons, an increase of 5% year-on-year compared to the production of the corresponding period last year, according to “Al Arabiya Business”. The sources added that the quantities of steel …
Egypt’s steel production to rise to 9 million tons in January-October 2024 Read More »
GCC economies have proven resilient to external shocks such as regional conflicts and oil production cuts over the past period, according to a report written by analysts at the International Monetary Fund, who expected positive performance for the region in the near term amid balanced risks. “The repercussions of the Red Sea tensions on Gulf …
Report: GCC economies have resisted shocks, outlook is positive Read More »
The African Development Bank has approved a $150 million concessional loan to the National Industrial and Mining Company (SNIM). The loan from the African Development Bank will enable SNIM to acquire up to 36 locomotives and 1,743 wagons to transport iron ore production to the iron ore port in Nouadhibou. The loan, provided by the …
Mauritania: SNIM borrows $150 million to expand its iron ore transport capacity Read More »
The rebar market in Saudi Arabia witnessed a decrease in prices in the first eleven months of 2024 compared to the same period in 2023. The average price of rebar in January-November of current year amounted to 2899.11 riyals, a decrease of -3.5% compared to the average for the same period in 2023, which amounted …
Rebar prices in Saudi Arabia decreased by 3.5% in January-November 2024 Read More »
Talks were held between Lieutenant General Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, and Tian Haikui, Chairman of “Chinese steelmaker XinFeng”, within the framework of discussing the latest developments in the plan to establish an integrated industrial complex with a total area within the integrated Sokhna area, affiliated …
Egyptian-Chinese talks to establish HRC and CRC factories Read More »
Egypt’s iron and steel exports declined in January-October of this year to record $1.695 billion, a decline of 13%, compared to the same period in 2023, which amounted to $1.942 billion. A report issued by the Export Council for Building Materials, Refractories and Metal Industries revealed that the total number of countries to which exports …
Egypt’s iron and steel exports decline by 13% in January-October 2024 Read More »
Egyptian Ezz Steel revealed the reasons behind its decision to seek to delist its shares from the Egyptian Stock Exchange for three reasons, including the increase in risks in light of the fluctuations witnessed by the industry resulting from the spread of protectionist measures in Europe. The company added in a letter sent to the …
Ezz Steel Decides to Delist Its Shares from the Egyptian Stock Exchange Read More »
Egypt’s imports of iron raw materials decreased by about 19.1% during September, recording $327 million, compared to $405 million in the same period last year 2023, according to data from the external bulletin of the Central Agency for Public Mobilization and Statistics. Ayman Al-Ashry, Chairman of the Board of Directors of Al-Ashry Steel Group, attributed …
Egypt’s imports of iron raw materials decreased by 19% in September Read More »
The Building Materials Division of the Cairo Chamber of Commerce held an expanded meeting with a delegation from the Turkish Steel Exporters Association to discuss new ways of cooperation in the coming period in this sector between Egypt and Turkey. Ahmed El-Zeiny, Head of the General Division of Building Materials at the Federation of Chambers …
Modon and Emsteel Group have entered into a strategic partnership that embodies Modon’s ambitious vision to become the first real estate developer in the UAE to rely on sustainable steel. This collaboration underscores the pivotal role played by Emsteel and Modon in driving the construction sector towards a more sustainable and carbon-free future. In line …
Emsteel and Modon Partner to Adopt Sustainable Steel in the Construction Sector Read More »
Yamamah Steel Industries Company signed a contract with the National Contracting Company Limited to establish a high-voltage line for 95 million riyals. “Yamamah”, listed on “TASI”, said in a statement on “Tadawul” today: The contract is concerned with supplying steel towers for the purpose of establishing a 380 kV high-voltage line in the central region …
According to the latest report issued by the World Steel Organization on crude steel production, Arab countries’ crude steel production amounted to 3.6 million tons in October 2024, an increase of 0.4% compared to October 2023. Egypt topped Arab countries in steel production in October with a production 950,000 tons and a decline of 7.3%. …
Arab countries’ crude steel production rises by 1.7% in January-October 2024 Read More »
Rebar prices in Egypt this week ranged between EGP 34,500 – EGP38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 36,800, Egyptian Steel EGP 38,100, Ashry Steel EGP 36,800. Garhy Steel EGP 36,800, Misr Steel EGP 35,500, El Komy Steel EGP 35,000, …
Saudi Iron and Steel Company (Hadeed) has announced updated long steel prices for December deliveries. The price of rebar (12-32 mm) will rise by SAR 50 (USD 13) per ton, bringing it to SAR 2,400 (USD 639) per ton. Meanwhile, wire rod (6.5-16 mm) prices will remain unchanged at SAR 2,440 (USD 649) per ton. …
Hadeed announces increase in rebar prices for December deliveries Read More »
Emirates Steel, part of the EMSTEEL Group, has announced an increase in rebar prices for December production by AED 50 ($14) per tonne to AED 2,610 ($711) per tonne for delivery in Abu Dhabi and AED 2,618 ($713) per tonne for delivery in Dubai, Sharjah and the Northern Emirates. These prices do not include 5% …
Tosyali Algeria’s flat plate factory entered service late last October with a production capacity of 2.5 million tons per year. Alp Topkyoglu explained that Tosyali Algeria’s flat plate factory entered service late last October with a production capacity of 2.5 million tons per year. It includes a direct reduction, smelting and hot rolling unit, awaiting …
In Nouadhibou, His Excellency the President of the Republic, Mr. Mohamed Ould Cheikh El Ghazouani, supervised, as part of the celebrations marking the 64th anniversary of National Independence Day, the inauguration of a new mineral shipping line for ships at the Nouadhibou Mineral Port. This achievement consists of a rotary dredger with a capacity of …
SNIM: Inauguration of a new shipping line at the Nouadhibou Mineral Port Read More »
The Iron and Steel Company for Mines and Quarries announced achieving total sales in last October worth EGP 36.67 million. The company explained, in a statement to the Egyptian Stock Exchange today, that the sales of the Bahariya Oasis mines in October amounted to EGP 36.26 million. It added that the value of sales of …
Egypt: EGP 36.7 million in iron and steel sales for mines in October Read More »
Dana Steel, which is based in the Emirates, will begin production from its first factory in Saudi Arabia in the middle of next year with investments amounting to about $82 million, according to its CEO, Ankur Dana. Dana stated that the company invested in Saudi Arabia due to its acquisition of a huge volume of …
Dana Steel opens its first factory in Saudi Arabia in mid-2025 Read More »