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 »
Emirates Steel, Arkan, signed an agreement with the global technology giant, SAP, with the aim of bringing together its operations in a unified cloud solution for enterprise resource planning, and increasing the flexibility and sustainability of its supply chain. Emirates Steel Arkan will adopt the “Rise with SAP” solution with the aim of transferring its …
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 »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 37,500 – EGP 47,000. The prices were as follows: Ezz Steel EGP 46,500, Suez Steel EGP46,500, Bishay Steel EGP 47,000, El Marakby Steel EGP 43,500, Egyptian Steel EGP 46,500, Ashry Steel EGP 46,500, Garhy Steel EGP 46,300, Misr Steel EGP 39,000, El …
The Egyptian government intends to recalculate petroleum subsidies in the budget for the next fiscal year 2024-2025, after moving the prices of all categories of gasoline and diesel last night, according to statements by Egyptian Finance Minister Mohamed Maait. About 72 hours ago, the Egyptian Ministry of Finance revealed some indicators of the 2024-2025 budget, …
Egypt recalculates petroleum subsidies in the 2024-2025 budget Read More »
Egypt’s imports of iron and steel declined by 17.8% during 2023, to record about $4.216 billion, compared to $5.133 billion during 2022, accounting for 5.1% of total Egyptian imports during this year. The data of the Central Agency for Public Mobilization and Statistics explained. 10 countries accounted for 83.5% of Egypt’s total iron and steel …
Egypt’s steel imports decreased by 18% to $4.2 billion in 2023 Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 39,000 – EGP 47,000. The prices were as follows: Ezz Steel EGP 46,500, Suez Steel EGP46,500, Bishay Steel EGP 47,000, El Marakby Steel EGP 46,500, Egyptian Steel EGP 46,500, Ashry Steel EGP 46,500, Garhy Steel EGP 46,300, Misr Steel EGP 40,500, El …
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.
Fitch Ratings maintained the credit rating of Kuwait’s long-term foreign currency bonds at “AA-” with a stable outlook. Fitch Ratings said in its report that Kuwait’s rating is supported by its “exceptionally strong” financial and external balance sheet. On the other hand, the agency pointed out the limitations surrounding the classification, which are summarized in …
Fitch confirms Kuwait’s rating at “AA-” with a stable outlook Read More »
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 Governor of the state of Tindouf, Mr. Dahou Mustafa, and the President and Director General of the SONARAM complex, Mr. Mohamed Sakher Harami, in the state of Tindouf, supervised the signing ceremonies of work contracts for young people from the state of Tindouf, in the presence of the presidents and general directors of the …
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 40,500 – EGP 47,000. The prices were as follows: Ezz Steel EGP 46,500, Suez Steel EGP46,500, Bishay Steel EGP 47,000, El Marakby Steel EGP 46,500, Egyptian Steel EGP 46,500, Ashry Steel EGP 46,500, Garhy Steel EGP 46,300, Misr Steel EGP 42,000, El …
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 »
Prime Minister Muhammad Shiaa Al-Sudani opened the iron and steel factory in Basra Governorate, after it had been closed since 2003. Al-Sudani’s office said in a statement received by ABC Arabia, “Prime Minister Muhammad Shia’ al-Sudani opened in Basra the rolling mill, one of the factories of State Company For Iron and Steel, with a …
After stopping more than 20 years…Reopening of the iron and steel factory in Basra 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 – …
Jordan Steel Company announced rebar prices for March 2024, unchanged from last month’s prices. The prices for Grade 60 EXW, between 420 and 432 dinars per tonne, excluding sales tax. However, with sales tax, it is between 500 and about 515 dinars per tonne. Grade Price without tax Price with tax Sales / tonnes …
Jordan Steel announces the prices of rebar for March 2024 Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 44,500 – EGP 54,000. The prices were as follows: Ezz Steel EGP 46,500, Suez Steel EGP 53,520, Bishay Steel EGP 47,000, El Marakby Steel EGP 53,520, Egyptian Steel EGP 46,500, Ashry Steel EGP 46,500, Garhy Steel EGP 45,158, Misr Steel EGP 45,500, …
The Arab Iron and Steel Union held the eighth meeting of the Economic Committee in Algiers, Republic of Algeria, during the period from 4 to 5 March. The committee meeting was attended by representatives of the following countries: the Arab Republic of Egypt – the Republic of Algeria – the State of Kuwait – the …
Arab Iron and Steel Union holds the eighth meeting of the Economic Committee in Algeria Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 44,800 – EGP 54,000. The prices were as follows: Ezz Steel EGP 46,500, Suez Steel EGP 53,520, Bishay Steel EGP 54,000, El Marakby Steel EGP 53,520, Egyptian Steel EGP 49,920 , Ashry Steel EGP 53,000, Garhy Steel EGP 46,300, Misr Steel EGP …
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 47,300 – EGP 54,000. The prices were as follows: Ezz Steel EGP 53,520, Suez Steel EGP 53,520, Bishay Steel EGP 54,000, El Marakby Steel EGP 53,520, Egyptian Steel EGP 49,920 , Ashry Steel EGP 53,000, Garhy Steel EGP 47,300, Misr Steel EGP …
Egypt has announced a large UAE-backed investment in Egypt for the development of a large stretch of the country’s Mediterranean coast, which is expected to benefit the country greatly. In the long run, Egypt is expected to receive additional funds from the increased inflow of tourists, apart from the creation of jobs and higher budget …
$35 billion UAE investment in Egypt to boost local steel demand in mid-term Read More »
Emirates Steel Arkan has decided to keep rebar prices unchanged for March production. The company is offering rebar (10-40 mm) at AED 2,744 (USD 747) per ton CPT Abu Dhabi and AED 2,752 (USD 749) per ton CPT Dubai, Sharjah, and the Northern Emirates. The decision to keep prices steady is believed to be influenced …
Emirates Steel Arkan keeps rebar prices stable for March Read More »
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 …
Following COP28 commitment and contributing to the UAE First Long-Term Strategy (LTS) demonstrating commitment to Net Zero by 2050, Emirates Steel Arkan (ESA), one of the largest publicly traded steel and building materials manufacturers in the region, announced its strategic collaboration with MAGSORT, a Finnish decarbonization company, to drive an innovative initiative across its Al …
Emirates Steel Arkan cooperates with the Finnish Magsworthto Reduce CO2 emissions Read More »
The Egyptian Algioshy Steel Group announced the completion of its acquisition of the Arabian Steel Industries Company, which is headquartered in the Suez Canal Economic Zone in Ain Sokhna. Algioshy Group said in a statement that a new board of directors for Arabian Steel Company is scheduled to be formed within days, headed by Tarek …
Egypt: “Algioshy Steel” acquires “Arabian Steel Industries” Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 49,920 – EGP 54,000. The prices were as follows: Ezz Steel EGP 53,520, Suez Steel EGP 53,520, Bishay Steel EGP 54,000, El Marakby Steel EGP 53,520, Egyptian Steel EGP 49,920 , Ashry Steel EGP 53,000, Garhy Steel EGP 53,300, Misr Steel EGP …
Ezz Steel Company announced the prices of rebar starting from February 21, 2024, to become EGP 53,520 per ton, an increase of EGP 3,600. And flat steel, EGP 57,340 per ton, a decrease of EGP 3,600 compared to the prices of the first of February, price over EXW, including value-added tax. Statement including VAT Rebar …
Egypt: Ezz Steel announces the prices of rebar and flat steel Read More »
The Board of Directors of the Iron and Steel Company for Mines and Quarries approved the estimated budget for the next fiscal year 2024-2025. The company said in a statement to the Egyptian Stock Exchange. It aims to achieve a net profit after taxes of about 447.9 million pounds during the next fiscal year. It …
Egypt: Iron and Steel Mines targets 447.9 million pounds in profits during 2024-2025 Read More »
The Moroccan Ministry of Industry and Trade revealed duty-free quotas for cold-rolled and coated steel products. 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 Users Site Member AISU Members Members Members 🟢 🟢 🟢 …
Morocco announces duty-free quotas for cold rolled and coated steel imports in 2024 Read More »