Arab countries

Egypt: Extending duties on steel imports from Turkey, Ukraine and China for a year

The Ministry of Industry and Commerce has issued Resolution 324 of 2022 extending the validity of Ministerial Resolution n° 1535 of 2017, imposing definitive anti-dumping duties on dumped imports type: bars, coils, poles and rods, originating or exported from China, Turkey or Ukraine for five years ending June 5, 2022. And based on the report …

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Ezz Steel’s profits rise to 1.2 billion pounds in the first quarter

The consolidated financial statements of Ezz Steel for the first quarter of this year showed a marginal increase in the company’s profits on an annual basis. In a statement to the Egyptian Stock Exchange, the company stated that it recorded a net profit of 1.21 billion pounds from January to the end of last March, …

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Arab Organization for Industrialization inaugurates a stainless steel factory

The Arab Organization for Industrialization has started two new giant national projects, one of which is to manufacture nearly 10 million vehicle tires of various types annually. The second is to produce “stainless steel” in large quantities, said Lieutenant-General Abdel Moneim Al-Terras, Chairman of the Authority’s Board of Directors, and in statements during his participation …

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Completing 90% of the iron and steel plant in Basra, with a production capacity of 500,000 tonnes

The General Iron and Steel Company revealed the stages of completion in the new factory, stressing that the completion rate has reached 90%, and the company explained that the remaining percentage is related only to data entry while indicating that the specified production capacity of the plant as a final product is in the range …

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Egyptian Ferrous alloys Company exports 35,000 tonnes to the European Union

Eng. Eid Muhalal, Managing Director and CEO of the Egyptian Ferroalloys Company of the Ministry of Public Business Sector, revealed that the export file is one of the most important files the company is interested in within the framework of the state’s plan to maximize the volume and value of locally manufactured exports to ensure …

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Hosted by Qatar Steel AISU resumes activities with Board and General Assembly meetings in Doha

AISU, News / By user

Qatar Steel hosted the 124th meeting of the Board of Directors and the 55th meeting of the General Assembly of the Arab Iron and Steel Union (AISU) at the Sharq Village & Spa in Doha on May 22 and 23, 2022. The meetings took place after an almost two-year pause in the activities of AISU …

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Arab Iron and Steel Union stresses the need to protect national industries in the Arab world

AISU, News / By user

Qatar Steel hosted the 124th session of the Board of Directors of the Arab Iron and Steel Union and the 55th ordinary session of the General Assembly during the period from 23-24 May 2022, at the Sharq Hotel in Doha, in the presence of 65 iron and steel companies members of the Union, after two …

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Arab Iron and Steel Union concludes the work of the Economic Committee meeting in Doha

AISU, News / By user

The Arab Iron and Steel Union concluded the work of the fourth meeting of the Economic Committee in Doha – Qatar, which was held on May 22, hosted by Qatar Steel Company. Where the committee presented a study on the economic situation of the Arab countries and its impact on the volume of steel production …

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Rebar prices fall in Egypt

News, Prices / By user

Rebar prices in Egypt recorded a new decline today, as iron prices in the local market decreased by 1000 pounds per ton. Ahmed El-Ziny, Head of the Building Materials Division at the Cairo Chamber of Commerce, indicated this decline is due to the drop in international prices of billet by $150 per ton. Rebar prices …

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Steel and cement prices in Saudi Arabia

According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia increased in April 2022 to 4292.81 riyals, up by 14.5% compared to the price of March 2022, which amounted to 3747.95 riyals, and up by 27% compared to April 2021, which amounted to 3377.8 riyals. As for …

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UAE: Rebar absorbs the repercussions of the Ukrainian crisis and is down by 8%

Rebar prices in the local market in the UAE witnessed a decline of 8% during May, from an average of about 3,200 dirhams per tonne last March to about 2,950 dirhams per tonne, according to sources working in the building materials trade. The sources pointed out that the decline came after a sudden jump of …

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Bellara steel complex: Export of 100,000 tonnes of ferrous products in the first 4 months 2022

The Bellara steel complex (wilaya of Jijel) of the Algerian-Qatari Steel Company (Algerian Qatari Steel) exported 100,000 tonnes of steel products in the first four months of the current year, its deputy general manager, Chaïb Setti Sofiane, on May 16, according to national radio channel I. The same official explained that the Bellara Steel Complex …

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Emirates Steel Arkan announces Q1 2022 profit

Emirates Steel Arkan announces its financial results for the first quarter of 2022 Emirates Steel Arkan (ADX: EMSTEEL) (the “Group”), the largest publicly traded building materials company in the UAE, announced its first quarter results. The Group reported revenues of AED 2.04 billion for the first quarter of 2022, compared to AED 233.5 million in …

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Arkab receives the Secretary-General of the Arab Iron and Steel Union

AISU, News / By user

Minister of Energy and Mines Mohamed Arkab received, on May 11, in Algiers, the Secretary-General of the Arab Iron and Steel Union, Dr Kamel Djoudi, and discussed ways to enhance cooperation between Algerian companies and the Union, according to a ministry statement. During this meeting, which took place at the Ministry’s headquarters, in the presence …

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Egypt’s steel exports rise to $343 million in Q1 2022

The Export Council for Building Materials, Refractories and Metal Industries announced that Egypt’s exports of “iron and steel” increased by 3% in the first quarter of this year, to record $343 million, compared to $335 million during the first quarter of 2021. The monthly report issued by the Council showed that in the first quarter …

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Emirates Steel Arkan Announces Q1 2022 Profit

• Group achieves Q1 net profit of AED 72.6 million on revenue of AED 2.04 billion • Arkan Group adopts interim brand “Emirates Steel Arkan (ADX: EMSTEEL)” Emirates Steel Arkan (ADX: EMSTEEL) (the “Group”), the largest publicly traded building materials company in the UAE, today announced its first quarter results. The Group reported revenues of …

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Framework agreement signing between “ABRO” and “Tosyali Algeria”

The National Agency for the Promotion and Rationalization of Energy Use (APRO) signed a framework agreement on May 10 with “Tosyali Algeria” in the field of renewable energies and energy efficiency, according to a statement from the Ministry of Energy Transition and Renewable Energies. This framework agreement was signed at the ministry’s headquarters by the …

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Saudi Arabia announces $6 billion investments in steel complex

Saudi Arabia’s Ministry of Industry and Mineral Resources said it had provided $6 billion for a steel plate complex and an electric car battery metal factory as part of plans to attract $32 billion in investment in the mining sector. The Minister of Industry and Mineral Resources Bandar Alkhorayef said that the ministry’s goal is …

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Sider El-Hadjar complex: maintenance work on hot zone units

Maintenance work for some units in the hot zone is scheduled from May 2 to 16 at the Sider El Hadjar steel complex in Annaba, General Management announced on April 28, 2022, in a press release. According to the same source, the units concerned by the maintenance operation are those relating to the preparation of …

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Qatar Steel improves production in Q1

In the first quarter of 2022, Qatar Steel resumed its second DRI facility (1.5 million tonnes) against the first facility (0.8 million tonnes), which operated until 2021. As a result, the production volume of all-steel value chain segments (DRI/HBI, billet, and long steel) improved by 20% year-over-year and 33% compared to the fourth quarter of …

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Emirates Steel Arkan Group saved AED 220 million through innovation in 2021

Emirates Steel Arkan Group, the UAE’s largest publicly traded steel and building materials company, saved AED 220 million in 2021 due to higher efficiency as the Group accelerates its strategy to harness innovation and unlock future-proof solutions. Reflecting its knowledge-based creative culture, innovative ideas submitted through Emirates Steel’s strategic transformation program “Namaa” by employees helped …

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Building Materials Chamber: Rebar prices fell 830 pounds in the Egyptian market

Ahmed El-Zeini, head of the Building Materials Division, announced that some iron companies started reducing prices, as Ezz Steel reduced the iron prices of a tonne by about 830 pounds for the May prices 2022 so that the price of a tonne of Ezz Steel reaches 19170 pounds, delivery to the factory land includes value-added …

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GCC countries’ economies will grow by 5.9% in 2022

A Reuter’s poll of economists said that the economic growth of the Gulf Cooperation Council countries would accelerate this year to a pace not seen in the last ten years, and experts said that high inflation and a slowdown in the global economy are the most significant risks. Crude prices, the main driver of Gulf …

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Tosyalı Algerie exports 15,000 mt of pipes to Angola

Turkish company Tosyalı Holding has announced that its Algeria-based subsidiary Tosyalı Algerie will export 15,000 mt of pipes to Angola for projects including the expansion of Namibia Container Terminal, the rehabilitation of Port Sacomar and the expansion of Port Namibia. The expansion of the Namibia Container Terminal and the rehabilitation of Port Sacomar will reduce …

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Egypt’s imports value of iron ore increased by 110% in January

Egypt’s imports of iron ore increased significantly last January, as the total value of imports amounted to about 128 million and 358 thousand dollars, an increase of 110 per cent compared to January 2021, in which the value of imports amounted to about 60 million and 986 thousand dollars, according to the data of the …

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Tosyali Algeria aims to manufacture green steel through a photovoltaic power plant

Tosyali Algeria will equip its steel complex, located in Bethioua (Oran), with a photovoltaic power plant. Indeed, Alp Topcuoglu, a member of the Board of Directors of Tosyali Algeria, accompanied by his adviser Hamid Gasmi, were received by the Minister of Energy Transition and Renewable Energies, Mr Benattou Ziane. The latter expressed his availability to …

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IMF reveals its expectations for the Saudi economy in 2022

The International Monetary Fund revealed in a report its latest forecast for the Saudi economy for 2022. It was stated in the “World Economic Outlook” report issued by the Fund on April 19. According to the report, the International Monetary Fund raised its forecast for the growth of the Saudi economy in 2022 to 7.6 …

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Al-Ashry Steel Group acquires the Arab special steel company (Arcosteel)

Sources revealed that Al-Ashry Steel Group acquired all the shares of the Arab Company for Special Steel (Arco Steel), which is affiliated to the National Bank of Egypt. The deal took place in several segments during the past three months. The “Al-Ashry Steel” Group’s acquisition of “ArcoSteel” came within the framework of its expansion plan, …

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IMF raises its forecast for Qatar’s economic growth to 3.4% in 2022

IMF raises its forecast for Qatar’s economic growth to 3.4% in 2022 The International Monetary Fund raised its forecast for Qatar’s economic growth in 2022 to 3.4%, compared to a previous forecast of 3.2%. In 2021, the Qatari economy recorded a real growth of 1.5%, compared to an estimate of the International Monetary Fund at …

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Steel and cement prices in Saudi Arabia

According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia increased in March 2022 to 3747.95 riyals, up by 4.3% compared to the price of February 2022, which amounted to 3591.70 riyals, and up by 7.9% compared to March 2021, which amounted to 3473.7 riyals. As for …

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