Arab Steel Summit

Middle East

Egypt: $3.2 billion in building materials exports during January-May 2023

The Building Materials Export Council announced that the sectors’ total exports under the umbrella of the Export Council for Building Materials, Refractories, Metal Industries, and Construction and Building recorded from January to May 2023, 3.234 billion dollars, compared to 2022, with 3.183 billion dollars, an increase of 2%. The Export Council indicated that pipe exports […]

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Jordan Steel announces rebar prices for July 2023

Jordan Steel Company announced the rebar prices for July for the 60-gauge steel EXW, between 430-450 dinars per tonne without sales tax and between 500-520 dinars per tonne with tax. Grade Price without tax Price with tax Sales / tonnes Sales / tonnes Min Max Min Max 60 430 450 500 520

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Reinforcing relations between Saudi Arabia and China in the industrial and mining sectors

The Minister of Industry and Mineral Resources of Saudi Arabia, Professor Bandar bin Ibrahim AlKhorayef, met in his office today with a delegation from China, headed by a member of the Standing Committee of the “Hebei” Provincial Committee and Secretary of the Tangshan Municipal Committee of the Communist Party of China Wu Weidong. The meeting

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Bahrain’s Ministry of Transportation and Communications is discussing developments in linking the Kingdom to the GCC railway network

Eng. Hussein Ali Yaqoub, Assistant Undersecretary for Land Transport Affairs at the Ministry of Transportation and Telecommunications, held a meeting with the Gulf Railways Authority delegation headed by Engineer Nasser bin Hamad Al-Qahtani and Abdullah bin Abdulaziz Al-Samaani, in the presence of the Ministry’s work team. The meeting is to discuss developments in the railway

Bahrain’s Ministry of Transportation and Communications is discussing developments in linking the Kingdom to the GCC railway network Read More »

Industries Qatar agrees to Qatar Steel’s potential acquisition of Al Qataria for the Production of Reinforcing Steel

Industries Qatar Company, “Industries Qatar” or “the Group”, one of the largest industrial companies in the region, with activities in the production of a wide range of petrochemicals, chemical fertilizers and iron and steel products, announced that the Company’s board of directors has approved in principle the proposed acquisition offer of the entire shares of

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16th Arab Steel Summit

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Arab Iron and Steel Union (AISU) will hold its annual Summit “16th Arab Steel Summit” on October 2023 in Cairo – Egypt, which acquires special importance to what the Steel Arab Industry witnesses as changes in the light of perturbation that encounter the steel markets in different regions in the world. Conjunction with the work of

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Rebar steel prices in the UAE fell 11% in June to 2450 dirhams

Rebar steel prices in the local market in the UAE declined by 11% to reach 2450 dirhams per ton in June, compared to the same period in 2022, which was approximately 2750 dirhams per ton, while prices recorded a slight increase by 3% compared to the beginning of the year, which amounted to 2380 dirhams

Rebar steel prices in the UAE fell 11% in June to 2450 dirhams Read More »

Emirates Steel Arkan establishes two business management units

The Emirates Steel Arkan Group announced the adoption of a new operating model based on the establishment of two separate business units, the Emirates Steel unit and the building materials unit, with the aim of benefiting from the common strengths of the steel and building materials business. Each business unit will have a Chief Executive

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A new line for the production of rebar in Kuwait at a cost of 6 million dinars

MEED magazine reported that the Al-Oula Steel Manufacturing Company has started operating a new facility for the production of rebar with a production capacity of 250,000 tonnes of rebar annually, according to sources in the industry, who revealed that the operation began last month after three years of development at a total cost of 6

A new line for the production of rebar in Kuwait at a cost of 6 million dinars Read More »

POSCO Steel enters into an alliance to produce 1.2 million tons of green ammonia in the Sultanate of Oman

ENGIE, a provider of low-carbon energy service solutions, and POSCO, the largest steel maker in South Korea, announced their role in an alliance aimed at promoting renewable energy resources in Oman by developing a green ammonia project with a capacity of 1.2 million metric tons. Other partners in the alliance include Samsung Engineering, Korea East-West

POSCO Steel enters into an alliance to produce 1.2 million tons of green ammonia in the Sultanate of Oman Read More »

Cooperation between Emirates Steel Arkan and Emirates Balanced Development in contributing to the “Emirates Villages” project

Emirates Council for Balanced Development signed a cooperation agreement with Emirates Arkan Steel Group in the presence of Suhail Al Mazrouei, Minister of Energy and Infrastructure, Emirates Council for Balanced Development member. The agreement comes within the active contribution framework to supporting the “Emirates Villages” project, which aims to develop Emirati villages at the developmental

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The United States announced the final revision of anti-dumping duties on steel pipes from the Sultanate of Oman

The US Department of Commerce (DOC) has announced the results of its administrative review of anti-dumping (AD) duties on welded quality round carbon steel pipe from the Sultanate of Oman for the periods December 1, 2019, through November 30, 2020, and December 1, 2020, through November 30, 2021. Accordingly, the Ministry decided that Oman’s steel

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Rebar prices decreased in the Kingdom of Saudi Arabia in May 2023

According to the General Authority for Statistics, the average price of a tonne of rebar in the Kingdom of Saudi Arabia in May 2023 ranged between 2754.97 -4099.14 Saudi riyals, a decrease between -1.19% and -4.15% compared to April 2023, and a decrease between -14.84% and -35.27% compared to May 2022. Average prices and monthly

Rebar prices decreased in the Kingdom of Saudi Arabia in May 2023 Read More »

Kizad Group collaborates with Tupacex Group to establish the first pipe factory of its kind in the Middle East in Abu Dhabi

The Kizad Group (Khalifa Economic Zones Abu Dhabi), as the integrated centre for economic and industrial businesses in Abu Dhabi, has entered into a land lease agreement with the Spanish Tupacex Group to establish the first factory of its kind in the Middle East specialized in the development of OCTG CRA stainless steel pipe solutions.

Kizad Group collaborates with Tupacex Group to establish the first pipe factory of its kind in the Middle East in Abu Dhabi Read More »

Jindal Shadeed Iron and Steel is leading the process of carbon neutrality in the Sultanate of Oman

Within the framework of its strategy to enhance sustainability, Jindal Shadeed Iron and Steel – the largest producer of iron and steel in the private sector in the Gulf Cooperation Council countries – participated in a series of pioneering initiatives aimed at reducing carbon dioxide emissions resulting from its activities. As these initiatives embody Jindal

Jindal Shadeed Iron and Steel is leading the process of carbon neutrality in the Sultanate of Oman Read More »

Arab Iron and Steel Union participates in the meeting of the 115th regular session of the “Council of Arab Economic Unity

AISU, News / mtaha

Arab Iron and Steel Union participated in the opening session, of the 115th regular session of the “Arab Economic Unity Council” at the ministerial level at the headquarters of the League of Arab States in Cairo. The Secretary-General of the Council, Ambassador Muhammadi Ahmed Al -Ni, confirmed, “The effort and joining everyone must be made

Arab Iron and Steel Union participates in the meeting of the 115th regular session of the “Council of Arab Economic Unity Read More »

The general assembly of Yamamah Steel agrees to transfer 60 million riyals from the statutory reserve to retained earnings

The extraordinary general assembly of Yamamah Steel Industries Company (Al Yamamah Steel) approved, during its meeting yesterday, Wednesday, to transfer an amount of 60 million riyals from the statutory reserve account as of March 31, 2023, to the retained earnings account. The company added, according to a statement it made today, Thursday, on “Saudi Tadawul”,

The general assembly of Yamamah Steel agrees to transfer 60 million riyals from the statutory reserve to retained earnings Read More »

The General Assembly of Watani Steel agrees to increase the capital by 50% through bonus shares

The General Assembly of Watani Steel Company for Iron and Steel, listed in the parallel market, approved the recommendation of the Board of Directors to increase the company’s capital by 50% by granting bonus shares to shareholders by granting one share for every two shares owned, as shown in the following table: Current capital 121.10

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An agreement between Egypt and the UAE to establish a wind energy project at $10 billion

Abu Dhabi Future Energy Company “Masdar” and its consortium of partners, including “Infinity Power”, the largest renewable energy company in Africa, “Hassan Allam Utilities”, specializes in sustainable infrastructure investments, announced the signing of an agreement with the “New and Renewable Energy Authority” in Egypt. The aim is to provide a plot of land designated for

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Jordan Steel announces rebar prices for June 2023

Jordan Steel Company announced the rebar steel prices for June for the 60-gauge steel on EXW, between 430 and 450 dinars per tonne without sales tax and between 500 and about 520 dinars per tonne with tax Grade Price without tax Price with tax Sales / tonnes Sales / tonnes Min Max Min Max

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Qatar Steel Industries Factory strengthens its presence locally

Ali Ahmadi, Executive Director of the Qatar Steel Industries Factory, said that the factory has succeeded in strengthening its presence in the Qatari market with the support of its distinguished products, advanced technology, sources of high-quality raw materials, maintaining the best services to customers and strengthening the strong distribution network. Ahmadi revealed that the factory

Qatar Steel Industries Factory strengthens its presence locally Read More »

UAE: Establishment of a low-emission iron production complex in Abu Dhabi

The Emirates Arkan Steel Group signed a memorandum of understanding with the Department of Economic Development in Abu Dhabi and the Japanese Company Itochu Corporation to conduct the necessary studies to establish an integrated Complex for low-carbon iron production in Abu Dhabi. The new Complex, which Emirates Steel Arkan intends to develop in partnership with

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Algerian government is studying a preliminary draft of a law regulating the activities of the mining sector

The government studied during its weekly meeting today, Wednesday, headed by Prime Minister Ayman Ben Abderrahman, a preliminary draft law regulating mining activities presented by the Minister of Energy and Mines. According to a statement of interests of the Prime Minister. The same source adds this draft text aims to revive the mining sector and

Algerian government is studying a preliminary draft of a law regulating the activities of the mining sector Read More »

Morocco: The Ministry of Industry and Trade extends protective duties on hot-rolled steel imports for 3 years

The Moroccan Ministry of Industry and Commerce announced the protective duties extension on hot-rolled steel imports. The decision came after a review investigation that started on January 26, 2023, at the request of the Moroccan Steel Company, the sole flat steel producer.

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Morocco: The Ministry of Industry and Trade extends protective duties on hot-rolled steel imports for 3 years Read More »

AISU trained a group of engineers and technicians of Sulb Company in the direct reduction technology

AISU, News / mtaha

Within the framework of the objectives of the Arab Iron and Steel Union, interest in human development and raising the administrative, organizational and technological skills of engineers and technicians in the field of iron and steel, AISU trained a group of engineers and technicians at Sulb Company , in “Direct Reduction Technology” training program the

AISU trained a group of engineers and technicians of Sulb Company in the direct reduction technology Read More »

The latest rebar prices update in Egypt is June 01, 2023

According to the daily follow-up of rebar prices in Egypt, rebar steel prices ranged between 32,050 EGP – 39,500 EGP, EXW, as some companies fixed their rebar prices, while some reduced them compared to last week. Ezz Steel prices amounted to 32,135 EGP, Suez Steel 32,050 EGP, Beshay Steel 38,000 EGP, El Marakby Steel 37,500

The latest rebar prices update in Egypt is June 01, 2023 Read More »

Egypt National Steel profits- Ataqa jumped to 129 million EGP during the first quarter

The financial statements of Misr National Steel Company – Ataqa, during the first quarter of this year, showed an increase in the Company’s profits by 89.5% on an annual basis. The Company stated to the Egyptian Stock Exchange today that it achieved profits of 128.81 million EGP from January to the end of March 2023,

Egypt National Steel profits- Ataqa jumped to 129 million EGP during the first quarter Read More »

Saudi Arabia: 27 billion riyals in new investments and tax cuts for 20 years in the special economic zones

The Investment Forum in Special Economic Zones announced new investments of more than 27 billion riyals in partnership with the Saudi program to attract regional headquarters for international companies. From his side, Mohammed Al-Jadaan, Minister of Finance, revealed the provision of various tax incentives for investors in the economic zones and work on tax cuts

Saudi Arabia: 27 billion riyals in new investments and tax cuts for 20 years in the special economic zones Read More »

UAE: Vale signs a memorandum of understanding to establish a low-carbon iron production complex in Abu Dhabi

The Abu Dhabi Ports Group announced the conclusion of a memorandum of understanding with Vale, the world’s largest producer of iron ore and one of the largest logistics service providers in Brazil, under which a massive industrial complex will be established in Abu Dhabi, producing low-carbon materials for the iron and steel sector that will

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Oman: Vale signs an agreement to establish an integrated green steel industrial complex in Duqm

Vale Company signed a land reservation agreement with the Port of Duqm Company to establish an integrated green iron industrial complex in the Special Economic Zone at Duqm on an area of 6.78 km. It will include three plants described in ore concentration, green briquetting, and reduced iron. Vale also signed a memorandum of understanding

Oman: Vale signs an agreement to establish an integrated green steel industrial complex in Duqm Read More »