Higher prices for global and domestic steel products in Turkey contributed to a significant increase in its flat steel products (HRC) exports in February, which rose by 43.5% year-on-year to 108,987 tons, according to the Turkish Statistical Institute (TUIK). North Africa topped the list of HRC buyers with a 40% share in February, with bookings …
Hisham Tawfiq, Minister of Public Business Sector, paid an inspection visit to Delta Steel Factories Company of the Holding Company for Metallurgical Industries, one of the companies of the Ministry of Public Business Sector, to follow up on the news of the development project. The minister began his visit by holding a meeting with the …
Delta Steel turns profitable after implementing the first phase of development Read More »
The Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, said on Twitter on April 7 that the national economy of the Emirates achieved a growth of 3.8% in 2021. Sheikh Mohammed stated in his tweet that the Statistics Centre had finished calculating the UAE’s GDP in 2021 and that the World Bank expected to …
UAE economy performed better in 2021 than before the pandemic Read More »
Tosyali Steel Complex, based in Bethioua, Oran, aspires to reach 1 billion dollars in revenue this year against 700 million dollars made last year, agency APS reports this April 09 2022. During the first quarter of the current year, the Complex reaped revenues of around 320 million dollars, thanks to the export of 335,000 tonnes …
Tosyali Algeria: reach $1 billion in revenue by 2022 Read More »
Arab Iron and Steel Union is scheduled to hold the Board of Directors meeting in its 124th ordinary session, and the ordinary Assembly in its 55th session in Doha Qatar on May 23, 2022, at the kind invitation of Qatar Iron and Steel Company “Qatar Steel” in the presence of representatives of iron and steel …
The Export Council of Building Materials revealed that Egypt’s iron and steel exports rose by 4% to $200 million from January to February 2022, compared to $192 million in the same period last year. In its monthly report, the Council added that Spain received iron and steel products worth $49.303 million from January to February …
Egypt’s iron and steel exports rise to $200 million during January and February 2022 Read More »
Today, Friday 01-04-2022, rebar prices witnessed a rise in the Egyptian construction market, where the market is currently witnessing instability in the price of the dollar against the pound, in addition to the continuation of the Russian-Ukrainian war and its effects on the local market, and the price of a ton of rebar in Egypt …
The Libyan Iron and Steel Company explained the reasons it relied on recently to raise the prices of its products by 20%, pointing out that it relies in its production operations on many inputs that are imported from abroad, including iron pellets, steel billets, tiles, refractory materials, and additive operating materials, spare parts and more. …
Libyan Iron and Steel Company explains the reasons for raising iron prices Read More »
Emirates Steel Arkan Group announced today a 20% increase in the domestic rebar prices to become AED 3,125 per tonne, effective 1 April 2022, compared to AED 2,590 per tonne in March. The increase comes on the back of a surge in the international raw materials prices resulting from the on-going repercussions of the Russian-Ukrainian …
Emirates Steel Arkan Group announces rebar price for April 2022 Read More »
The Mauritanian company SNIM and the Turkish company Tosyali signed a long-term contract to supply iron ore from the SNIM Company to the industrial units of the Tosyali Company in Oran, Algeria. This contract is a return to SNIM to supply iron ore to the nearby Maghreb market and allows Tosyali to find a nearby …
Signing a contract to supply Mauritania iron ore between SNIM and Tosyali Read More »
The Ministry of Trade and Industry in the State of Kuwait announced the prices of building materials, as follows: Imported Rebar Size Origin Unit Kuwaiti Dinar 8 mm Kuwait Ton 295 10 mm Kuwait Ton 295 12 mm Kuwait Ton 295 14 mm Kuwait Ton 295 16 mm Kuwait Ton 295 Domestic Rebar Size Origin …
The Egyptian government reduced the value of the Egyptian pound on March 21 and moved its exchange rate against the US dollar, coinciding with the increase in the interest rate to absorb the exit of foreign investment from the country and control the high inflation wave. The average exchange rate of the pound against the …
Egypt moves the pound against the dollar, coinciding with the interest rate hike Read More »
According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia increased in February 2020 to 3591.70 riyals, up by 12 riyals compared to the price of January 2022, which amounted to 3579.34 riyals, and up by 118 compared to February 2021, which amounted to 3473.7 riyals. As …
Average prices of steel and cement in Saudi Arabia in February 2022 Read More »
Emirates Steel accelerates strategy to sell its high-quality products and tailor-made engineering services and solutions in key global markets Emirates Steel, part of the Arkan Group and the leading integrated steel plant in the Middle East, recorded a nearly 50% increase over the past two years in the number of its export markets in Europe, …
Emirates Steel’s exports expand to 56 international markets Read More »
The General Director of El Hadjar Iron and Steel Complex in Algeria, Lotfi Kamal Menaa, revealed that about 25,000 tons of iron products were exported to eight countries during the first quarter of this year. Lotfi Menaa, in a statement to the Algerian News Agency, confirmed that Sider El Hadjar has started exporting the first …
Sider El Hadjar exports iron to eight countries during the first quarter of 2022 Read More »
The Ministry of Trade and Industry in the State of Kuwait announced the prices of building materials, as follows: Domestic Rebar Size Origin Unit Kuwaiti Dinar 8 mm Kuwait Ton 265 10 mm Kuwait Ton 265 12 mm Kuwait Ton 265 14 mm Kuwait Ton 265 16 mm Kuwait Ton 265 Imported Rebar Size Origin …
Consolidated sales were MAD 4.49 billion at the end of December 2021, up 43% compared to 2020 and 24% compared to 2019, helped by the recovery in demand and a favorable pricing effect. Consolidated revenue for the fourth quarter was 1.38 billion dirhams, up 32% year-on-year. Sonasid continues its investment efforts, on the one hand …
According to data from Ezz Steel Company for the Egyptian Stock Exchange, The volume of domestic consumption of reinforcing steel increased in 2021 to reach 7,344 million tons, an increase of 7% over 2020, which recorded 6.865 million tons. The fourth quarter of last year achieved the highest consumption level by 27% over the third …
Egypt: Domestic steel consumption rises to 7.34 million tons in 2021 Read More »
The increasing uncertainty in the semi-finished products sector – the billet – due to the lack of supply and the increase in international prices led to a review of rebar prices in the Kingdom of Saudi Arabia along with the local construction activity. As of March 1, SABIC Steel announced a price increase of 50 …
Rebar prices rise in Saudi Arabia with the rise of semi-finished products Read More »
Emirates Steel, the leading integrated steel plant in the Middle East, has sealed a memorandum of understanding (MOU) with Mauritania’s Société Nationale Industrielle Et Minière (SNIM) to look into the feasibility of creating a joint venture company to produce iron oxide pellets. Under the 18-month agreement, signed by Engineer Saeed Ghumran Al Remeithi, Group CEO …
Emirates Steel and SNIM Agree on Vital Feedstock Supply for UAE Steel Production Read More »
Watani Iron and Steel Company “Watani Steel” achieved a net profit increase of 51.4% during the year 2021 on an annual basis. According to the company’s financial statements issued March 1 on the Saudi Tadawul website, the net profit amounted to 47.06 million riyals after zakat and tax, compared to 31.08 million riyals in 2020. …
“Watani Steel” profits rise 51.4% in 2021, supported by sales Read More »
Tosyali Algerie A.Ş. established a new world record in 2021 for annual direct reduced iron (DRI) production by a single module plant, producing more than 2.28 million tons. The former record was set in 2020 by Tosyali in only its second year of operation. “Our fundamental priority is operational sustainability and full compliance with environmental, …
Tosyali Algerie Sets DRI Production Record in 2021, Contracts 2nd DRI Plant Read More »
The Board of Directors of the Iron and Steel Company for Mines and Quarries has approved the planning budget for the next fiscal year 2022-2023. The company stated in a statement to the Egyptian Stock Exchange, today, Monday, that it aims to achieve a net profit of 91.82 million pounds during the next fiscal year. …
Iron and Steel Mines targets 91.8 million pounds in profits in the 2022-2023 budget Read More »
The Arab Special Steel Company “ARCO Steel” applied to the Industrial Development Authority to obtain a license to produce billet with a production capacity of 1.1 million tonnes, at a value of EGP345 million. Government sources said that the company submitted a request to the Industrial Development Authority on February 15 to obtain a license …
Egypt: Arco Steel applies for a license to produce 1.1 million tons of billet Read More »
Ahmed El-Zaini, head of the Building Materials Chamber in the Cairo Chamber of Commerce, told Masrawy that El-Garhy Steel Company announced an increase in the price of the iron a tonne delivered to the factory land by 650 pounds, starting from February 27. According to El-Zaini, the price of the tonne for “delivery to the …
Ukraine war and shipping turmoil raise iron prices in Egypt Read More »
Hisham Tawfiq, Minister of Public Business Sector, said that it was agreed to resolve the Delta Steel Company license crisis and for the company to obtain a license to increase production. In statements on the sidelines of Jusoor’s signing of agreements with service providers, the minister explained that the company will pay for the new …
Egypt: Approval of a license for “Delta Steel Company” to increase production Read More »
While raw materials and billet tags are on the rise, long steel producers have no choice but to adjust their prices. Among these companies is Universal Rolling (Unirol), the sole manufacturer of steel reinforcement bars in Bahrain, which has made such adjustments in the new sales round. After maintaining a stable price for two months, …
Rebar prices up in Bahrain to offset billet cost Read More »
On February 21, 2022, a Memorandum of Understanding was signed in the Qatari capital, Doha, related to the completion of a feasibility study for the expansion of the Algerian-Qatari Iron and Steel Complex in Bellara (Jijel), Algeria. This agreement was signed on the sidelines of the state visit of the President of Algeria, Mr Abdelmadjid …
Mohamed El Garhy Vice Chairman of the Board of Directors of El Garhy Group, announced that he had applied for a license to produce billets with a production capacity of 1.1 million tonnes per year, and the investment cost of the project exceeds 4 billion pounds. According to a statement by El Garhy Group on …
The general manager of El Hadjar steel complex, Lotfi Manaa, said, “In 2022, Sider El Hadjar plans to export no less than 200,000 tonnes of steel products”. He added, “For the current year, we expect to export 100,000 tonnes of galvanized coils, hot and cold rolled coils, billets, slabs, as well as 100,000 tonnes of …
Sider El Hadjar expects the export of 200,000 tonnes in 2022 Read More »