Saudi Steel Pipe Company achieved net profits of SAR 900,000 in 2021, compared to net losses of SAR 34.5 million in the earlier year. The company generated SAR 373.5 million revenues in 2021, down 21.35% from SAR 474.9 million in the previous year, according to a bourse filing on February 17. Meanwhile, the company registered earnings before …
Saudi Arabia’s gross domestic product grew by 6.8% in the fourth quarter, bringing overall growth last year to 3.3%, official flash estimates showed on Thursday. The quarter’s growth was driven by a 10.8% rise in oil activities and a 5% increase in non-oil activities, the General Authority for Statistics said. Government services increased by 2.4%. …
Saudi GDP grows by 6.8% in fourth quarter – flash estimates Read More »
In February of this year, the upward trend is strengthening in the Jordanian rebar market, following the positive developments in the global steel market, specifically in the semis and scrap segments, as long-steel demand has improved in the country amid a gradual revival of construction projects. Most Jordanian rebar mills offer their products locally at …
The Ministry of Trade and Industry in the State of Kuwait announced the prices of rebar, as follows: Domestic Rebar Size Origin Unit Kuwaiti Dinar 8 mm Kuwait Ton 225 10 mm Kuwait Ton 225 12 mm Kuwait Ton 225 14 mm Kuwait Ton 225 16 mm Kuwait Ton 225 Imported Rebar Size Origin Unit …
According to the General Authority for Statistics, the average price of a ton of rebar in Saudi Arabia was 3578.1 riyals in December 2021, an increase of 1.45% compared to November 2021, which amounted to 3526.9 riyals, and an increase of 19.0% compared to the price of December 2020, which amounted to 3006.6 riyals. The …
Rising prices of rebar in Saudi Arabia in 2021, cement stability Read More »
Arab Iron and Steel Union organizes its annual conference “15th Arab Steel Summit” on 7-8 November 2022, in Manama city, Kingdom of Bahrain, under the patronage of H.E. Zayed Bin Rashid Al Zayani, Minister of Industry and Trade in the Kingdom of Bahrain, which acquires special importance to what the Steel Arab Industry witnesses as changes …
Ahmed El-Ziny, head of the Building Materials Division in the Chamber of Commerce, revealed that the Egyptian ports will receive 150,000 tons of billets next week from Ukraine and Russia, which will contribute to reducing iron prices during the coming period, noting that rolling mills based on billets sell tons of rebar for delivery, factory …
The UAE Central Bank expected the UAE’s gross domestic product to grow by 4.2% during 2022, compared to 2.1% for the previous year. The Central Bank expected the non-oil GDP to grow by 3.9% this year, amid the continued increase in public spending, positive expectations for credit growth, increased job opportunities, and the lifting of …
The Libyan Iron and Steel Company announced that the bar rolling mill exceeded the annual target for 2021, achieving production of more than 209 thousand tons to reach 103% of the annual target of 203 thousand tons. The company added that it had produced 568,000 tons of reinforcing steel of various thicknesses and 704,000 tons …
Morocco’s Ministry of Industry and Trade has announced the results of the investigation for the extension of safeguard measures on imports of wire rod and rebar. The ministry has decided to extend the measures for imports of rebar and wire rod until October 15, 2023. The investigation was provoked on August 17, 2021, and closed …
Morocco extends safeguard measures on rebar and wire rod 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 220 10 mm Kuwait Ton 220 12 mm Kuwait Ton 220 14 mm Kuwait Ton 220 16 mm Kuwait Ton 220 Domestic Rebar Size Origin …
The Board of Directors of EL Ezz Aldekhela Steel held on 9/12/2021, approved the purchase of 18% of the total equity in the Egyptian Steel Company for the management of steel mill projects from Ahmed Hamdi Abu Hashima, the founding partner, and the Abu Hashima Steel Company for the management of steel projects. The total …
Ezz Aldekhela Steel agrees to buy 18% of Egyptian Steel for EGP 2.5 billion Read More »
On Monday, December 6, 2021, the Minister of Commerce and Export Development, Fadila Al-Rabihi, issued a decision setting the selling prices of rebar. The decision included raising the prices of various types of rebar, while setting the profit margin in total and in detail at 100 dinars per ton without calculating the added value, including …
The Building Materials Division of the Chambers of Commerce announced that steel prices in Egypt recorded levels of 15,000 pounds in some factories and reached a maximum of 15,500 pounds, according to what was announced by the producing factories, and it reaches the consumer at levels up to 16,000 pounds, despite announcing the abolition of …
Egypt: stability of iron prices in the local market and a jump in steel exports Read More »
Thailand’s Committee of Dumping and Subsidy has announced final antidumping duty (AD) on hot rolled coil (HRC) imported from Vietnam and Egypt, for a period of five years. The final antidumping duties on the given products are at 24.38 percent for Vietnambased Formosa Ha Tinh Steel Corporation and 42.34 percent for other Vietnamese companies, while …
Thailand issues final AD duty on HRC from Vietnam and Egypt Read More »
Saudi Pipes Company announced that it has won contracts to supply steel pipes for oil and gas to Tenars Global Service in Uruguay, with an estimated value of 52.4 million riyals. The company said in a statement posted on the Saudi market website, “Tadawul”, that the contract term is 3 months. It expected that the …
“Saudi Pipes” wins contracts to supply pipes in Uruguay with 52.4 million riyals Read More »
Egypt’s steel exports increased by 189% in the first ten months of this year to record $1.49 billion, compared to $560 million in the same period last year 2020. According to the report of the Export Council of Building Materials, Egypt exported to 80 countries, the most important of which was Spain, which came first …
Egypt’s steel exports jump 189% to $1.5 billion in 10 months Read More »
Emirates Steel, takes part in in the 4th Global Manufacturing and Industrialisation Summit (GMIS 2021), Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the GMIS 2021 is currently held at the Dubai Exhibition Centre, Expo 2020 from 22nd to 27th November, 2021. During …
Emirates Steel highlights digital transformation across steel industry at GMIS 2021 Read More »
The Iron and Steel Company for Mines and Quarries announced the arrival of semi-industrial test equipment to concentrate ore to the company’s mines in Bahariya Oasis on November 18. The company said in a statement to the Egyptian Stock Exchange that the equipment has been received and is being installed at its site in the …
Egypt: Iron and Steel Mines announces the arrival of modern industrial equipment Read More »
SABIC affiliate Hadeed and The Red Sea Development Company (TRSDC) have signed a Memorandum of Understanding (MoU) to initiate discussions on the possibility of steel supplies and solutions for the Red Sea project and to set a framework for knowledge exchange. The MoU, signed at SABIC headquarters in Riyadh on November 14, reflects SABIC’s continued …
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 225 10 mm Kuwait Ton 225 12 mm Kuwait Ton 225 14 mm Kuwait Ton 225 16 mm Kuwait Ton 225 Domestic Rebar Size Origin …
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3436.71 riyals in October 2021, down 5% compared to September 2021, which amounted to 3620.08 riyals, and an increase of 18.5% compared to the price of July in October, which amounted to 2900.3 riyals. As for …
Average prices of steel and cement in Saudi Arabia in October 2021 Read More »
The Libyan Iron and Steel Company (Lisco) announced that it is exporting 5,800 tons of hot rolled steel coils to Egypt. The shipment consists of two types of coils, the thickness ranges from 1.6mm to 12.0mm, it is reported that this is the first time that 1.6mm has been produced. The company said that the …
Libyan Iron and Steel Company exports 5,800 tons of Hot Rolled Coils to Egypt Read More »
The consolidated financial statements of Ezz Steel, during the first nine months of 2021, showed the shift from losses to profitability on an annual basis. In a statement to the Egyptian Stock Exchange, the company stated that it achieved profits of EGP 3.75 billion in the nine months that ended last September, compared to losses …
Ezz Steel turns to profits, and its sales jump to EGP 49 billion in 9 months Read More »
The Egyptian Ministry of Trade and Industry decided to cancel the safeguard import duties on billet, rebar and aluminum products, which the ministry has imposed since 2019, at 25% on imports of rebar and 15% on imports of billet. Another decision issued last April included imposing safeguard import duties on a variety of aluminum products …
Egypt cancels safeguard import duty on iron billets, steel rebar, aluminium Read More »
Emirates Steel has strengthened its presence in the energy, oil and gas sectors by supplying more than 600,000 tons of heavy and medium sections to the oil and gas sectors in the region and worldwide. During its participation in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2021), the company aims to highlight its …
Emirates Steel supplies 600,000 tons of structural sections Read More »
The financial statements of the Misr National Steel Company – Ataqa showed an increase in its profits in the first nine months of 2021 by 244% on an annual basis. The company stated in a statement to the Egyptian Stock Exchange that it achieved profits of 65.74 million pounds in the first nine months of …
Misr National Steel – Ataqa rise to 65.74 million pounds profit in 9 months Read More »
The Board of Directors of the Iron and Steel Company for Mines and Quarries approved the approval of the company’s financial statements for the first nine months of 2021. The company said in a statement to the Egyptian Stock Exchange that the financial statements were approved with a net profit after taxes of 8.59 million …
Egypt: 6 million pounds of profits for “Iron and Steel Mines” in 9 months Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 143,950 mt in September 2021, up 69.7% from August and up 268.3% from September 2020 levels. By value, rebar imports totaled $115.6 million in September 2021, compared to $69.2 million in August and $18.9 million in September 2020. The …
US rebar imports up 69.7% in September, Algeria ranked first Read More »
The Industrial Development Authority at the Ministry of Trade and Industry in Egypt announced the launch of the booklet of requirements and controls to establish 6 projects to produce billets, sponge iron and iron pellets, or expand existing ones at the local level, in preparation for obtaining a production license. Engineer Mohamed Fadel Al-Zalat said …