Morocco’s leading flat steel producer, Maghreb Steel, reported a 5pct YoY revenue growth in H1 2024, driven by increased domestic and export sales. The company’s sales revenue reached MHD 2.55 bln (USD 260 mln) in the first half of 2024, up from MHD 2.43 bln in the same period last year. Maghreb Steel also experienced …
The iron and steel company Tosyali Algeria has exported 25,000 tons of steel sheets for the first time, according to the company’s investment manager, Ezzi Ramzi. Mr. Ezzi pointed out that “after the partial operation of flat steel production, 25,000 tons of steel sheets were exported for the first time to international markets”, noting that …
Tosyali Algeria exports 25,000 tons of steel sheets Read More »
Emirates Steel Arkan has announced rebar prices for September at AED 2,447.25 ($666) per tonne CPT Abu Dhabi and AED 2,456.25 ($669) per tonne CPT Dubai, Sharjah and Northern Emirates. An increase of $19-20 per tonne compared to last month’s prices. These prices are exclusive of 5% VAT. 1 USD = 3.67 AED
Riyadh Steel Company announced yesterday, Monday, that it signed a short-term banking facilities agreement (compliant with the provisions of Islamic Sharia) with the Saudi First Bank worth 10 million riyals. The company said in a statement on Tadawul that the financing period is one year, noting that the facilities agreement is secured by a promissory …
Riyadh Steel obtains banking facilities with Al-Awwal Bank worth 10 million riyals Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 52,392 mt in June this year, down 53.7% month on month and down 72.8% year on year. By value, rebar imports totaled $33.4 million in June this year, compared to $72.3 million in May and $123.0 million in June …
According to the latest report issued by the World Steel Organization on crude steel production. Arab countries’ crude steel production amounted to 3.4 million tons in July 2024, an increase of 2.7% compared to July 2023. July 2024 production was. Egypt topped Arab countries in steel production in July with a production volume of 959 …
Arab countries’ crude steel production increases by 4.9% in January – July 2024 Read More »
Rebar prices in Egypt this week ranged between EGP 36,300 – EGP 40,700. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 38,500, Egyptian Steel EGP 40,600, Ashry Steel EGP 38,500. Garhy Steel EGP 38,500, Misr Steel EGP 37,000, El Komy Steel EGP …
The profits of Watani Iron and Steel Company (Watani Steel), which works in the production and manufacture of billet and rebar, rose to 3.4 million riyals by the end of the first half of 2024, compared to profits of 1.2 million riyals in the same period of the previous year. Item 6 months 2023 6 …
Watani Steel profits rise to 3.4 million riyals by the end of H1 of 2024 Read More »
Egypt’s exports of iron and steel products to the European Union countries declined by about 37% during the first half of this year, according to government data. The data showed that imports from the European Union countries decreased during the period from January to the end of last June to about $420 million, compared to …
Egypt’s iron and steel exports to EU declined by 37% in H1 of 2024 Read More »
The financial statements of Misr National Steel Company – Ataqa, in the first half of this year, showed a 30.36% decline in the company’s profits on an annual basis. The company explained in a statement to the Egyptian Stock Exchange that it achieved profits of EGP 535.45 million in the period from January to the …
Misr National Steel Company – Ataqa profits rise 30% in H1of 2024 Read More »
Riyadh Steel Company’s profits, which are active in the steel industry and scrap sales, rose slightly to 2.53 million riyals by the end of the first half of 2024, compared to profits of 2.52 achieved during the same period in 2023. Summary of financial results (million) Item 6 months 2023 6 months 2024 Change Revenue …
Riyadh Steel profits rise slightly to 2.5 million riyals by the end of H1 of 2024 Read More »
Engineer Mohamed Shimi, Minister of Public Business Sector, visited Delta Steel Factories Company in Mostorod on Saturday morning, where he was received by Eng. Ayman Attia, Governor of Qalyubia. According to a statement from the ministry today, this comes within the framework of the ongoing field tours of various work and production sites in the …
Egypt: Minister of Public Business Sector visits Delta Steel Company Read More »
Saudi Iron and Steel Company (Hadeed) will lower its wire rod prices by SAR 100 (USD 27) per ton for September deliveries. The new price for wire rod (6.5-16 mm) will be SAR 2,435 (USD 648) per ton. Hadeed recently reduced its rebar prices by SAR 40 (USD 11) per ton, bringing them to SAR …
Hadeed cuts wire rod prices for September deliveries Read More »
Egyptian Ezz Steel has received a notification from the European Trade Commission that it has begun anti-dumping investigations into imports of hot-rolled flat steel from Egypt, India, Japan and Vietnam, following a complaint filed by the European Steel Association (EUROFER). The company said in a statement on the London Stock Exchange that the complaint calls …
EU initiates anti-dumping investigations against “Ezz Steel” Read More »
Jordan Steel Company announced rebar prices for August 2024, a decrease of between 3-5 dinars over last month’s prices. The prices for Grade 60 EXW, between 453 and 462 dinars per tonne, excluding sales tax. However, with sales tax, it is between 540 and about 550 dinars per tonne. Grade Price without tax Price …
Jordan Steel announces the prices of rebar for August 2024 Read More »
Rebar prices in Egypt this week ranged between EGP 37,000– EGP 40,700. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 39,000, Egyptian Steel EGP 40,600, Ashry Steel EGP 38,500. Garhy Steel EGP 38,500, Misr Steel EGP 37,500, El Komy Steel EGP 37,500, El …
Vale S.A., through its subsidiary Vale International SA, has signed an agreement to sell 50% of its distribution center in the Sultanate of Oman for $600 million to Apollo Global Management (Apollo), a leading provider of alternative asset management and pension funds. The transaction is expected to be completed by the end of 2024, subject …
Oman: Vale Sells 50% of Its Stake in Sohar Distribution Center to Apollo Read More »
The European Commission (EC) plans to initiate an anti-dumping duty (AD) investigation against imports of HRC from Egypt, Vietnam, India and Japan in a few days. The EU is taking new measures to further protect local steel producers, considering that the existing tariff-rate quotas could not be extended beyond July 2026, according to the WTO …
EU to start AD investigation into HRC imports from Egypt, Vietnam, India, Japan Read More »
The Director General of the General Administration of Customs, Abdullah Al-Sharhan, issued a decision to extend the increase in customs duties on rebar and wire rod from 5 percent to 10 percent for a full year. Al-Sharhan’s decision comes in addition to Customs Instructions No. 2 of 2023 regarding raising customs duties on iron imports, …
Kuwait: Customs extends 10% increase in steel import duties Read More »
El Nasr Pipe Manufacturing Company, one of the companies of the Ministry of Public Business Sector, has succeeded in recovering from its crises and overcoming losses in the last two fiscal years, as the company achieved about EGP 77 million in profits in 2023 and 2024, while achieving about EGP 488.5 million in revenues in …
Rebar prices in Egypt this week ranged between EGP 36,300– EGP 40,700. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 39,000, Egyptian Steel EGP 40,600, Ashry Steel EGP 38,500. Garhy Steel EGP 38,500, Misr Steel EGP 37,500, El Komy Steel EGP 37,000, El …
The profits of the Iron and Steel Company for Mines and Quarries declined in the past fiscal year, reaching EGP 127.5 million during the period from July 2023 to the end of June 2024, compared to EGP 127.8 million in the comparative year. The company’s sales decreased to EGP 306.25 million in the past fiscal …
EGP 127.5 million profits for “Iron and Steel for Mines” in 2023-2024 Read More »
“Emirates Steel Arkan” announced its financial results for the first half of 2024, as the group’s revenues amounted to 3.96 billion dirhams, while its earnings before interest, taxes, depreciation and amortization amounted to 503 million dirhams. The group provided stable performance during the first half of 2024, despite the difficult conditions that affected local markets …
4 billion dirhams revenues of “Emirates Steel Arkan” in H1 of 2024 Read More »
Local and foreign steel industry companies have pledged billions of dollars in projects that could elevate the region’s countries as centers for green steel manufacturing. Steel production accounts for between 7% and 9% of global carbon dioxide emissions, making it a challenging industry to decarbonize. With strong growth expected in global steel production in the …
Gulf countries chart path to green steel production Read More »
Rebar prices in Egypt this week ranged between EGP 36,500– EGP 40,700. The prices were as follows: Ezz Steel EGP 40,700, Suez Steel EGP 40,500, Bishay Steel EGP 40,700, El Marakby Steel EGP 39,000, Egyptian Steel EGP 40,600, Ashry Steel EGP 38,500. Garhy Steel EGP 38,500, Misr Steel EGP 37,500, El Komy Steel EGP 37,800, El …
Ezz Steel Company announced price stability starting August 1, 2024 for the Fifth 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
The Arab Iron and Steel Union is scheduled to hold 3rd Technical Committee Meeting of AISU on September 17-18, 2024 in Algiers, Algeria, at the kind invitation of the General Secretariat of AISU. In this meeting, it is scheduled to study carbon neutrality in Arab countries and short-term and long-term future plans. The committee consists …
Arab Iron and Steel Union holds 3rd Technical Committee Meeting in Algeria Read More »
The Arab Iron and Steel Union is scheduled to hold 9th Economic Committee Meeting of AISU during the period from 2-3 September in Cairo, Egypt, at the kind invitation of Ezz Steel Company. The committee holds its meetings periodically to study the conditions of the iron and steel industry and its repercussions on the steel …
Arab Iron and Steel Union holds 9th Economic Committee Meeting in Cairo Read More »
Arabian Gulf Steel Industries, the national company specialized in manufacturing sustainable steel and headquartered in Abu Dhabi, announced achieving climate neutrality (net zero emissions) at its steel plant in the Emirate of Abu Dhabi, in commitment from the company to enhance environmental responsibility and sustainable manufacturing efforts. The company’s efforts are in line with the …
Arabian Gulf Steel Industries achieves climate neutrality Read More »
The Sonatrach Group and the Tosyali Iron and Steel Company-Algeria signed, in Algiers, a memorandum of understanding that will allow the two parties to conduct a joint feasibility study for the production of green hydrogen in Algeria based on renewable energy, according to a statement from Sonatrach. Under this protocol, which was signed at the …
Sonatrach signs MOU with Tosyali Algeria on green hydrogen Read More »