The consolidated financial statements of Ezz Steel Company, during the first nine months of this year, showed an increase in the company’s profits by 52%, on an annual basis. The company stated in a statement to the Egyptian Stock Exchange, today, that it achieved profits amounting to 5.7 billion pounds during the period from January […]
Ezz Steel profits rise to 5.7 billion pounds in 9 months Read More »
According to the General Authority for Statistics, the average price of a ton of iron in the Kingdom of Saudi Arabia in October ranged between 3189.14 – 4285.41 Saudi riyals, with an increase of 1.02% – 5.15% compared to September 2022, and a decrease between -0.14% – -1.76% compared to October 2021. Average Prices monthly
Average Reinforcing iron prices in Saudi Arabia Read More »
Despite numerous challenges, among which are the global economic headwinds and local political instability, a new steel facility has been commissioned in Iraq. Rather positive long-term prospects for rebar demand are the main reason for capacity expansion taking place in the Kurdistan region. Iraq’s Galiawa Group announced the launch of the second rolling mill at
Iraq’s Van Steel launches commercial rebar production Read More »
Qatar Steel recently held a Long Service Awards Ceremony for 162 employees to thank them for their dedicated service to the Company. Employee with a range of service between 10 to 30 years were acknowledge for their contributions to the development of the Company and enhancing its leading position in steel industry, both locally and
Qatar Steel celebrates its long service employees Read More »
The revenues of Emirates Steel Company “Arkan” in the third quarter of this year 2022 increased by 29% to reach 2.51 billion dirhams, compared to the initial revenues during the third quarter of last year, which amounted to 1.94 billion dirhams. EBITDA increased to AED 269 million, up 224% year-on-year. The group recorded a net
Emirates Steel achieves a profit of 383 million dirhams in 9 months Read More »
Today, the Arab Iron and Steel Union annual conference, “The 15th Arab Steel Summit,” was concluded in Manama, the Kingdom of Bahrain, under the patronage of H.E the Minister of Industry and Commerce, Mr Zayed Bin Rashid Al-Zayani, in which a remarkable number of Arab steel companies, regional and international organizations, technology equipment suppliers, consultants,
The accomplishment of the 15th Arab Steel Summit Read More »
Within the framework of the activities of the 15th Arab Steel Summit organized by the Arab Iron and Steel Union during the period from 7-8 November 2022 in Manama, the Kingdom of Bahrain, the Union honoured the companies participating in the International Iron and Steel Exhibition on the fiftieth anniversary of the establishment of the
Honouring the companies participating in the International Iron and Steel Exhibition Read More »
Within the framework of the activities of the 15th Arab Steel Summit organized by the Arab Iron and Steel Union during the period from 7-8 November 2022 in the city of Manama, Kingdom of Bahrain, the federation honored the founders of the federation on the occasion of the fiftieth anniversary of the founding of the
Honoring the founders of Arab Iron and Steel Union Read More »
Within the framework of the activities of the 15th Arab Steel Summit organized by the Arab Iron and Steel Union during the period from 7-8 November 2022 in the city of Manama in the Kingdom of Bahrain, the chairmen of the union were honored on the occasion of the fifty years since the founding of
Honoring the chairmen of Arab Iron and Steel Union Read More »
Under the patronage of H.E the Minister of Industry and Commerce, Mr Zayed Bin Rashid Al Zayani, the works of the 15th Arab Steel Summit and the International Iron and Steel Exhibition hosted by the Kingdom of Bahrain were launched this morning in conjunction with the celebration of the 50th anniversary of the Arab Iron
On the sidelines of the 15th Arab Steel Summit, the meeting of the Board of Directors of the Arab Iron and Steel Union No. 125 was held on November 7th. The first conference of the federation after recovering from the effects of the Corona pandemic. His Excellency the Minister of Industry and Trade in the
Arab Iron and Steel Union holds its 125th Board of Directors meeting in Manama – Bahrain Read More »
The Ministry of Commerce, Industry and Investment Promotion signed a memorandum of cooperation with Vale SA “Vale”, in partnership with the Public Authority for Special Economic Zones and Free Zones, and the National Program for Investment and Export Development “Nizhar”. The memorandum of cooperation includes a study and exploration of the feasibility of developing an
The Arab Iron and Steel Union concluded the work of the fifth meeting of the Economic Committee in Jeddah – Kingdom of Saudi Arabia, which was held from 17-18 October. The meeting was attended by representatives of the following countries: the Algerian Republic – the State of Kuwait – the United Arab Emirates – the
Eng. Saeed Ghamran Al Rumaithi, CEO of Emirates Steel Group, Arkan confirmed that the Group continues its excellent financial and operational performance, explaining that the results it achieved during the first half of this year confirm this. In an interview with Gulf News, Al-Rumaithi said, “Despite the decline in market momentum, the increase in fluctuations
The launch of the new Emirati rebar in the last quarter Read More »
According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia recorded 3502.29 riyals in August 2022, a decrease of 7.9% compared to July 2022, which amounted to 3802.88 riyals, and a decrease of 4.8% compared to the price of August 2021, which amounted to 3669.99 riyals. As
Average prices of rebar and cement in Saudi Arabia Read More »
In July this year, Turkey’s total longitudinally welded tube and profile exports decreased by 42.8 % to 122,405 metric tons compared to June and were up 35.1 % year on year, according to the data provided by the Turkish Statistical Institute (TUIK). These exports had a value of $151.17 million, down 40.1 % month on
SABIC participated as a strategic partner in the 2nd Saudi International Iron & Steel Conference 2022 in Riyadh from September 12 to 14 under the patronage of Bandar Al-Khorayef, Minister of Industry and Mineral Resources, and Khalid Al-Falih, Minister of Investment. During a workshop on the first day of the conference, the company highlighted its
The “2nd Saudi Iron & Steel Conference” concluded its work today successfully with a remarkable attendance of nearly 1,000 participants, which was organized by the National Committee for Steel Industry of the Federation of Saudi Chambers at the Four Seasons Hotel in the capital, Riyadh, under the patronage of His Excellency the Minister of Industry
The conclusion of the work of the of ” 2nd Saudi Iron & Steel Conference” in Riyadh Read More »
Mohammed Al-Afari, Senior Vice President of Marketing at Emirates Steel, Arkan, revealed the launch of a new rebar product called ES600, which is considered the first of its kind in the UAE and the region, and the company has obtained local certifications for it. According to Al-Afari, this new type reduces the cost of using
Emirates Steel announces reinforcing steel that reduces the cost between 10% and 25% Read More »
Today, Monday, the Saudi Minister of Industry and Mineral Resources, Bandar Al-Khorayef, announced three new projects in the Saudi iron and steel sector worth 35 billion riyals. During the second Saudi International Iron and Steel Conference, the minister said that the production capacity of new projects in Saudi Arabia is 6.2 million tonnes of iron
Rebar prices in the local market in the United Arab Emirates decreased by 6.5% to 2351 dirhams per ton for the month of September, compared to 2516 dirhams per ton in August. This is the lowest level of iron in the UAE since the beginning of the year. The Emirates-Arkan Steel Group announced fixing the
Rebar in the Emirates to its lowest level since the beginning of the year Read More »
Engineer Saeed Ghamran Al Rumaithi, CEO of Emirates Steel Arkan, said that the group was able to reduce the volume of bank loans and reduce reliance on short-term cash loans, which contributed to achieving additional savings and improving cash flow in general at the end of the first half of this year. . He added,
Emirates Steel Arkan cuts bank loans and expands into new markets Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 149.3 million tonnes (Mt) in July 2022, a 6.5% decrease compared to July 2021. Africa produced 1.2 Mt in July 2022, down 5.4% on July 2021. Asia and Oceania produced 110.1 Mt, down 5.2%. The EU (27) produced 11.7
World crude steel production declined by 6.5% in July 2022 Read More »
Eng. Saeed Al Rumaithi, CEO of Emirates Steel, Arkan, praised the positive results achieved by the group in the first half of this year, explaining that the group is the largest listed joint stock company in the construction sector in the country. Al-Rumaithi said in an interview with «Al-Khaleej» that the company succeeded in opening
Chairman of Emirates Steel, Arkan, we succeeded in opening new markets Read More »
SABIC today reported its earnings for the second quarter of 2022. The company’s revenue for the second quarter reached SAR 55.98 ($ 14.93 billion), representing an increase of 6% compared to the previous quarter and a 32% increase year-on-year. Net income during the second quarter totaled SAR 7.93 billion [$ 2.11 billion]. This is higher
SABIC announces profits of SAR 7.93 billion in Q2 of 2022 Read More »
Emirates Steel Arkan (ADX: EMSTEEL) (the “Group”), the largest publicly traded steel and building materials company in the UAE, today announced its second quarter results. The Group reported a net profit of AED 207 million in the second quarter compared to a pre- merger loss of AED 24 million in the same period of last
Emirates Steel Arkan announces profits of AED 207 million in Q2 202 Read More »
Gulf economies are expected to grow faster this year than previously thought, thanks to abundant oil production, according to a Reuters poll of economists. The six Gulf Arab states, namely Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Oman, are running budget surpluses. The survey expected overall growth in the six Gulf Cooperation Council economies
Fastest growth of the Gulf economies in a decade .. 6.2% average this year Read More »
The Emirates Steel Arkan Group announced that it has fixed rebar prices for August at 2,516 dirhams per tonne, compared to July, for its authorized distributors in the UAE. This price does not include any discount based on quantities, additional charges for sizes or product grade or any other costs applied to the product price,
Emirates Steel announces rebar prices for August Read More »
Saudi Iron & Steel Company (SABIC Hadeed) issued official prices for longs, decreasing them by SAR 100/t ($26.7/t). The 12‑14 mm rebar will be available at SAR 2,750/t ($733/t) delivered, while 16‑32 mm rebar at SAR 2,700/t ($720/t) delivered. The new offers will be effective from August 1. The wire rod 6.5 mm and above
Rebar prices decline in Saudi Arabia with the beginning of August Read More »
United Arab Emirates-based steel producer Union Iron & Steel has announced that it had recently obtained the quality mark license as per KWS GSO ISO 6935-2:2012 Grade B500B-R Standard issued by the Public Authority for Industry in Kuwait. Nadeem Ahmed, commercial director at Union Iron & Steel, stated that the company had received official product
UAE: Expansions of Union Iron & Steel Company in GCC region Read More »