Jordan Steel Company announced rebar prices for October for 60 EXW, between 432 and 440 dinars per tonne, excluding sales tax. However, with sales tax, it is between 515 and about 525 dinars per tonne. Grade Price without tax Price with tax Sales / tonnes Sales / tonnes Min Max Min Max 60 432 […]
Jordan Steel announces rebar prices for October 2023 Read More »
According to the iron prices daily monitoring in Egypt, rebar prices ranged between EGP 34,000 and 30,000 EXW The companies that did not change prices are Ezz Steel EGP 32,135. Suez Steel, EGP 32,050. Beshay Steel, EGP 34,000, and Egyptian Steel, EGP 32,050. The companies that reduced prices are El Marakby Steel from EGP 32,000
The latest rebar prices update in Egypt is October 10, 2023 Read More »
The Ministry of Economy of the United Arab Emirates decided to maintain restrictions on the country’s steel scrap exports for an additional three months. On May 15 this year, the country banned steel scrap export for four months, and the ban on scrap export has now been extended until the end of December to support
UAE extended the ban on exporting steel scrap until the end of the year Read More »
Industries Qatar, one of the largest industrial companies in the region with multiple activities in a wide range production of petrochemicals, chemical fertilizers, and iron and steel products, announced the completion of all shares acquisition of Qatar Rebar Production Company by its subsidiary, Qatar Steel. The total amount of 346 million Qatari riyals, excludes cash
Qatar Steel acquires Qatar for rebar production Read More »
The Executive Vice President of the Mining Sector at the National Industrialization Company, Dr. Fadi Trabzoni, details of the first pig iron shipments from Jizan to the United States. Trabzoni added, during his interview broadcast on Al-Ekhbariya channel, that the shipment is estimated at 37 thousand tonnes and will be exported from the first and
Saudi Arabia: Exporting 37 thousand tonnes of pig iron to the United States Read More »
The UAE’s largest clean energy producer plans to double its capacity this year, helping boost the green potential of the country ahead of the climate conference. Abu Dhabi Future Energy Company Masdar, which runs projects from the UK to Asia, aims to boost its global capacity to about 40 gigawatts by the end of the
The Emirati “Masdar” plans to double its capacity this year Read More »
The deal was concluded for $324 million to settle the debts of companies affiliated with the Beshay Group The “National Service Projects Agency” in Egypt acquired up to 24% of 3 companies affiliated with the “Beshay Steel” group in deals amounting to about EGP 10 billion ($324 million) to settle debts, according to two sources
The National Service Authority in Egypt acquires 24% of 3 steel companies Read More »
According to a statement on its website on Sunday, the Saudi Public Investment Fund announced a deal to launch a giant company for the iron and steel industry through its acquisition of the two largest iron companies in the Kingdom. According to two separate statements from the Public Investment Fund and the Saudi Basic Industries
The Saudi Public Investment Fund acquires the two largest steel companies in the Kingdom Read More »
Saudi Arabia and Turkey signed a memorandum of understanding for cooperation in the field of mining during a meeting between Bandar Al-Khorayef, Saudi Minister of Industry and Mineral Resources, and Alp Arslan Bayraktar, Turkish Minister of Energy and Natural Resources, in Ankara on Monday. Bayraktar said, in statements after the meeting, that he hosted Al-Khorayef
A Saudi-Turkish understanding for cooperation in the field of mining Read More »
The Egyptian Cabinet said in a statement that it approved a proposal from the Orascom Construction Alliance to establish renewable energy projects with a capacity ranging between 150 and 200 megawatts. According to Reuters, the alliance includes the French company Engie and the Japanese company Toyota Tsusho. The coalition has already developed a 262.5 MW
Despite the challenging economic environment, the Egyptian steel sector demonstrated surprising resilience. The country increased crude steel production in both July and the first seven months of 2023. Nevertheless, the pressure on mills has been growing day by day. Egypt produced 5.6 million t of crude steel in January-July 2023, indicating a 2% increase in
Egypt ramps up steel production by 2% year-to-date Read More »
In recent years, Algeria has transformed from an importer of iron and steel – especially reinforcing steel – into an exporter thanks to two factories, one of which is the result of a partnership between the Algerian government Cedar Group with a share of 46% and the “Qatar Steel International” company affiliated with Qatar Mining
Algerian Qatari Steel Company is a model of successful Arab partnerships Read More »
In June this year, Turkey’s total welded tube exports increased by 38.0% month-on-month to reach 201,678 tonnes and decreased by 11.0% year-on-year, according to data provided by the Turkish Statistical Institute (TUIK). The value of these exports amounted to $205.06 million, an increase of 33.4% on a monthly basis, and a decrease of 25.9% compared
Morocco leads the Arab countries importing steel tubes from Türkiye in H1 2023 Read More »
Bahrain Steel Company, a subsidiary of Foulath Holding Company, one of the global leaders in the production and supply of high-quality iron ore pellets, has signed a letter of intent with Essar International Group to supply iron ore pellets to the Arab Green Steel project. The signing ceremony was held on Wednesday, August 16, 2023
According to the General Authority for Statistics, the average price of a tonne of rebar steel in the Kingdom of Saudi Arabia in July 2023 ranged between 2613.52 – 4082.53 Saudi riyals, a decrease between 0.28% and -1.01% compared to June in 2023, and a decrease between -9.31% and -28.75% compared to July 2022. Average
Rebar prices decreased in the Kingdom of Saudi Arabia in July 2023 Read More »
The profits of Bena Steel Industries Company in the Kingdom of Saudi Arabia, which operates in the field of iron rolling services, manufacturing structural steel, iron tubes, presses and wagons, decreased to 5.2 million riyals at the end of the first half of 2023, compared to profits of 11 million riyals for the same period
Saudi Arabia: Bena Steel Industries profits decreased to 5.2 million riyals in H1 2023 Read More »
Rebar prices stabilized in the local market in the UAE, for the third month in a row during the current year 2023 (June, July, August) at an average of 2450 dirhams per ton, according to data from manufacturers. Prices recorded a decline of 11%, to 2450 dirhams per ton in June, compared to the same
UAE: Rebar prices stabilized for the third month in a row Read More »
Saeed Al Rumaithi, CEO of Emirates Steel Group – Arkan, confirmed that the company aims to demonstrate the flexibility of its results in the face of any market turmoil and to continue improving the company’s profitability. Al-Rumaithi said in an interview with Al-Khaleej: “The group owns 65% of iron sales in the local market, and
Eng. Saeed Al-Rumaithi: Emirates Steel – Arkan is expanding in 3 new markets Read More »
Oman and Etihad Rail signed a memorandum of understanding with Jindal Steel and Energy Company. With the aim of providing sustainable logistical solutions to transport up to 4 million tons annually of “Jindal” raw materials and products. From its industrial complex in the port of Sohar to the United Arab Emirates, via the Emirati-Omani railway
Jordan Steel Company announced the rebar prices for August for the 60-gauge steel EXW, between 425-435 dinars per tonne without sales tax and between 505-515 dinars per tonne with tax. Grade Price without tax Price with tax Sales / tonnes Sales / tonnes Min Max Min Max 60 425 435 505 515
Jordan Steel announces rebar prices for August 2023 Read More »
Engineer Saeed Ghamran Al-Rumaithi, CEO of Emirates Arkan Group, said that the company achieved strong financial performance during the first half of 2023, despite the challenges facing the industry, due to the increase in demand from the local market, as the percentage of the company’s sales of steel in the local markets amounted to about
Emirates Steel achieves 55% of domestic sales and 45% of exports abroad in H1 2023 Read More »
Emirates Arkan Steel Company, EMSTEEL, recorded net profits during the first half of 2023 of about 280.5 million dirhams, an increase of 0.3%, compared to 279.9 million dirhams in the corresponding period of 2022. The company’s revenues in the first half amounted to about 4.43 billion dirhams, compared to 4.6 billion dirhams. The results of
The Libyan Iron and Steel Company announced on its Facebook page that the company had exported more than “27,000” tonnes of Hot Briquetted Iron “HBI” to Germany on Sunday, July 30, from the company’s port on the ship “S.Nibton”. On Monday evening, the ship “Immensity” entered to ship more than “10,000” tonnes to Italy of
The Ministry of Economy decided to extend the ban on exporting scrap iron and paper waste until September 19, 2023. In its Decision No. 89 of 2023, regarding extending the implementation of Ministerial Resolution No. 50 of 2023, with regard to temporarily stopping the export of scrap iron and paper waste, the ministry revealed the
UAE stops exporting scrap iron until September 19, 2023 Read More »
Brazilian mining company Vale announced that it had reached two separate agreements to sell 13 percent of its base metals business for $3.4 billion, with the aim of boosting its copper and nickel production. Under the two agreements, a joint venture between the Saudi Arabian Mining Company (Maaden) and the Public Investment Fund will acquire
Investment Fund and Ma’aden intend to acquire 10% stake in a subsidiary of “Vale” Read More »
“Khalifa Economic Zones Abu Dhabi -Kezad Group” and “Al Jazeera Steel” Company laid the foundation stone for the establishment of a rolling mill for medium structural sections, the first of its kind in the region to manufacture and produce railway rails, with investments amounting to 250 million dirhams on an area of 210 thousand square
Al Jazeera Steel invests 250 million dirhams in Kezad Read More »
The Ministry of Commerce said that the total licenses for exporting steel and cement since the start of permitting exports amounted to 334, including 201 for steel export and 133 for cement. According to Al-Eqtisadiah newspaper, the ministry stated that from the beginning of 2023 until the end of the first half, 41 licenses were
In the presence of His Highness Sheikh Hamed bin Zayed Al Nahyan, Member of the Executive Council of the Emirate of Abu Dhabi, and the Prime Minister of Japan, Fumio Kishida, the Abu Dhabi Ports Group and the Emirates Arkan Steel Group have concluded a cooperation agreement with the two Japanese companies, Itoshu Corporation and
”Al Jazeera Steel” company profits, which works in the manufacture of iron pipes, declined to 2.03 million Omani riyals (16 baisas / share) at the end of the first half of 2023, compared to profits of 2.82 million riyals achieved in the same period in 2022. Income List Period First Half 2022 First Half 2023
The Emirates Steel Arkan Group signed a memorandum of understanding with Al Jazeera Steel Products Company (AJSP), which specializes in manufacturing iron products in the Sultanate of Oman, to establish a strategic cooperation system that allows them to benefit more from their common experiences and seize new opportunities in the sector. The signing of the