The Saudi Railways (SAR) signed a contract with the French company Alstom Transport SA to raise the level of readiness of the Al Sharq network train fleet. This came on the sidelines of the Saudi Railways Exhibition and Conference, in Riyadh. The agreement aims to “provide training and qualification services to SAR employees, invest in …
Saeed Al Ghafri, CEO of Emirates Steel, a subsidiary of Emsteel Group, revealed a new project to produce low-carbon steel in Abu Dhabi, in cooperation with Japanese partners to meet the growing global demand for environmentally friendly products. Al Ghafri confirmed on the sidelines of the “Middle East Iron and Steel Conference 2024” held in …
Emirates Steel CEO: Expected project to produce low-carbon steel in Abu Dhabi Read More »
Egypt’s steel exports declined in January to September of this year to $1.46 billion, a decline of 18% compared to same period last year. Exports fell by about 11.5% in terms of quantities to 2.25 million tons. The value of steel imports in January – September of this year increased by 33% to $4 billion, …
Egypt’s steel exports decline, imports increase in Jan. – Sep. 2024 Read More »
The net profit of the Saudi Steel Pipes Company “Saudi Pipes” increased by 71% in the third quarter of 2024 to 65 million riyals, from 38 million riyals in the corresponding quarter of 2023. On a quarterly basis, the company’s profits decreased during the third quarter of this year by 9.7% compared to a net …
Saudi Pipes’ profits jump 71% to 65 million riyals in Q3 Read More »
EMSTEEL Group, the UAE’s largest publicly listed steel and building materials company, and, Tadweer Group, Abu Dhabi’s waste management and recycling services leader, have signed a Memorandum of Understanding (MOU) to explore the use of alternative fuels and raw materials in creating green building materials. The agreement focuses on harnessing Tadweer Group’s production of Refuse …
The Egyptian Ministry of Investment and Foreign Trade has announced the launch of an anti-dumping investigation into imports of cold-rolled and coated steel products originating from Turkey and China. The investigation was initiated at the request of local steel producers, including Al-Obour Metal Industries and Kama Metal Coating and Processing. The companies claim that products …
His Excellency Saud Salim Al Mazrouei, Director of the Hamriyah Free Zone Authority in Sharjah, stressed the leading role played by the zone in promoting the steel and iron industry sector as a dynamic business center that serves investors and provides them with strategic access to regional and global markets, explaining that the authority includes …
Jordan Steel Company announced rebar prices for November 2024, unchanged from last month’s prices. The prices for Grade 60 EXW, between 451 and 457 dinars per tonne, excluding sales tax. However, with sales tax, it is between 537 and about 545 dinars per tonne. Grade Price without tax Price with tax Sales / tonnes …
Jordan Steel announces rebar prices for November 2024 Read More »
The work of the 60th regular meeting of specialized Arab unions operating in Cairo began today with the participation of the Arab Iron and Steel Union, in the presence of the permanent delegates of the member states of the Council, and the heads and secretaries-general of the specialized Arab unions. Ambassador Mohammadi Ahmed Al-Ni, Secretary-General …
Emsteel Building Materials Company recorded a net profit of AED 91.62 million in January – September 2024 compared to AED 387.6 million in the same period last year, a decrease of 76%. The company achieved revenues of AED 5.87 billion in the first nine months of 2024 compared to AED 6.48 billion in the corresponding …
UAE: Emsteel profits AED 91.6 million in January – September 2024 Read More »
Saeed Ghumran Al Rumaithi, CEO of Emsteel Group, explained that the group’s performance is good and appropriate, compared to competitors and steel manufacturers worldwide, noting that the industrial sector is going through many challenges globally, due to the economic conditions and the slowdown in global economies, and the impact on the international shipping sector, which …
Saeed Al Rumaithi: The construction sector supports the steel industry and grows by 3% Read More »
The International Monetary Fund expects the growth rates of the Egyptian economy to reach 4.5% for the years 2024 and 2025, driven by huge investments in infrastructure and the energy sector. In its latest report on the economic outlook for the Middle East and Central Asia region, the IMF explained that economic growth in Egypt …
IMF: 4.5% expected growth rate of the Egyptian economy in 2025 Read More »
Rebar prices in Egypt this week ranged between EGP 35,000 – EGP 40,700. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 40,700, El Marakby Steel EGP 37,500, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 37,200, Misr Steel EGP 35,500, El Komy Steel EGP …
Saudi Iron and Steel Company ( Hadeed ) has announced an increase in rebar prices for November. The company announced an increase in the price of rebar (12-32 mm) by 50 Saudi riyals ($13) per ton, to become 2350 Saudi riyals ($625) per ton. Similarly, the price of wire rod (6.5-16 mm) will increase by …
Saudi Iron and Steel Company (Hadeed) announces rebar prices for November Read More »
Vale and Jinnan Iron and Steel Group have announced an investment of OMR 240 million to establish the first iron ore concentration plant in Sohar Port and Free Zone, which will boost the growth of the iron and steel sector in the Sultanate of Oman and consolidate the country’s position as a key player in …
Vale and Jinnan Iron and Steel Group announce investment of over $600 million Read More »
Abu Dhabi Future Energy Company (Masdar), the world’s leading clean energy company, and Emsteel Group, the largest listed steel and building materials company in the UAE, have announced the successful completion of the development of a pilot project to produce sustainable steel using green hydrogen. The pilot project in Abu Dhabi is the first of …
EMSTEEL, the UAE-based company, has announced that its rebar prices for November production will be AED 2,560 ($697) per tonne in Abu Dhabi and AED 2,568 ($699) per tonne in Dubai, Sharjah and the Northern Emirates. This marks an increase of $30 per ton compared to last month’s prices. Headquartered in Abu Dhabi, EMSTEEL has …
According to the latest report issued by the World Steel Organization on crude steel production, Arab countries’ crude steel production to 3.4 million tons in September 2024, an increase of 2.2% compared to September 2023. Egypt topped Arab countries in steel production in September with a production volume of 867 thousand tons and an increase …
Arab countries’ crude steel production increases by 1.9 % in January – September 2024 Read More »
Ezz Steel said that it has signed, along with a number of Egyptian industrial groups, a framework agreement of intent for consultation and cooperation with the Egyptian government. The company explained in a statement in response to the stock exchange’s inquiries about what was published under the title “Signing oil exploration agreements with Ezz Steel,” …
Ezz Steel announces signing of oil exploration agreements with the government Read More »
The Egyptian steel industry witnessed an improvement in the rate of crude steel production by 6% in the first nine months of this year to 7.9 million tons, accompanied by a significant increase in the production of rebar by 11% compared to the same period last year to 6.4 million. The increase in sales was …
Egyptian steel industry witnessed an improvement in Jan – Sep. 2024 Read More »
The Iron and Steel Company for Mines and Quarries announced that it achieved total sales in September amounting to EGP 31.89 million. The company explained, in a statement to the Egyptian Stock Exchange, that the sales of the Bahariya Oasis mines in September amounted to EGP 31.76 million. It added that the value of sales …
Egypt: EGP 32 million in iron and steel sales for mines in September Read More »
Rebar market in Saudi Arabia witnessed a decline in prices in the first nine months of 2024 compared to the same period in 2023, as the average price of rebar in January – September of this year reached 2896.51 riyals, a decrease of -4.3% compared to the average for the same period in 2023, which …
Rebar prices in Saudi Arabia decline in Jan. – Sep. 2024 Read More »
Prices of major building materials groups recorded slight relative declines during the second quarter compared to the first quarter of 2024, as cement prices decreased by 1-3%, while rebar decreased by about 4.8% in the same comparison, according to data from Dubai Statistics, published by Dubai Digital. As for rebar, twisted steel measuring (6-8) millimeters …
Building materials prices record slight declines in Q2 2024 Read More »
On October 20, 2024, Al Yamamah Steel Industries Company signed a contract to supply steel towers with Larsen & Toubro Saudi Arabia for the project to establish a 500 kV ultra-high voltage line from the central region to the western region (phase three) worth 170.5 million riyals. The company said in a statement on Tadawul …
Al Yamamah Steel signs two contracts to supply steel towers worth 309 million riyals Read More »
Last Monday, the 17th Arab Steel Summit was held in Doha, Qatar, organized by the Arab Iron and Steel Union in cooperation with Qatar Steel Company under the patronage of His Excellency Eng. Saad Sherida Al Kaabi, Minister of State for Energy Affairs – State of Qatar. It is the largest and most important event …
Iron and steel source attributed the growth of cold steel sheet exports to Morocco because of their low prices compared to competing countries in the Moroccan market, including China. The imports of CR steel from Egypt to Morocco increased by 343% in 2022-2023, while about 6 thousand tons were recorded in the first 5 months …
Egyptian steel factories deny deliberately dumping the Moroccan market with CR steel Read More »
On the sidelines of the 17th Arab Steel Summit, the 129th Board of Directors meeting of the Arab Iron and Steel Union was held on October 14. The meeting was chaired by Mr. Awaad Al-Khalidi, Chairman of the Board of Directors of the Arab Iron and Steel Union, who began his speech by praising the …
Arab Iron and Steel Union holds 129th Board of Directors meeting in Doha Read More »
The Moroccan Ministry of Industry and Trade has officially announced the launch of an anti-dumping investigation into imports of CR steel from Egypt. This investigation comes following a complaint filed by Maghreb Steel, the only Moroccan flat steel producer in Morocco, which alleges that these imports are being dumped in the Moroccan market at unfair …
Morocco: Ministry initiates anti-dumping probe into CR steel imports from Egypt Read More »
Al Jazeera Steel Company, operating in the iron pipes industry, increased its profits to OMR 3.91 million (31 baisa/share) by the end of the first nine months of 2024, compared to profits of OMR 2.41 million achieved in the same period in 2023, as shown in the following table: income list Period September 2023 September …
Al Jazeera Steel profits rise to 3.91 million riyals (+62%) in January – September 2024 Read More »
The Information and eGovernment Authority explained that during September, the Kingdom of Bahrain imported iron ores and non-agglomerated concentrates from Brazil worth 47.5 million dinars, with a volume of one million kilograms. The Authority issued its report on foreign trade statistics for the month of September 2024, where the report includes data on imports and …
Bahrain imports iron ores worth 47.5 million dinars from Brazil in September Read More »