The UAE’s Ministry of Economy has announced the extension of the country’s ban on exports of ferrous and paper waste. Accordingly, the UAE’s Ministry of Economy issued a directive to suspend the export of raw materials, in particular steel scrap (scrap), under the following HS codes 720410, 720421, 720429, 720430, 720441, 720449 and 720450, until […]
UAE extends ban on scrap exports until September 30 Read More »
The US Department of Commerce (DOC) has announced the final the results of its administrative review of the antidumping (AD) duty order on circular welded carbonquality steel pipe (pipe) from the United Arab Emirates for the period between December 1, 2019, and November 30, 2020. Accordingly, the US DOC has determined that UAE-based companies’ sales
US issues final AD duty on circular welded pipe from UAE Read More »
Rebar prices in the local market in the UAE recorded a sudden drop in June, touching 2,530 dirhams per ton, down 16.6% compared to prices last May, which were around 2,950 dirhams per ton, according to sources working in the building materials trade. The sources linked this decline to several reasons, including the drop in
UAE : Rebar prices fell by 17% in June 2022 Read More »
Official data revealed that Kuwait imported base and manufactured metals of about 803 million dinars in 2021, and iron and steel products accounted for 71% of the total, with a value of 568 million dinars.
Kuwait’s imports reached 568 million dinars of iron and steel in 2021 Read More »
According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia decreased in May 2022 to 4278.38 riyals, down by 14 riyals compared to the price of April 2022, which amounted to 4292.81 riyals, and up by 927 riyals compared to May 2021, which amounted to 3351.19 riyals.
Rebar prices in Saudi Arabia Read More »
Mukalla Iron and Steel Company Ltd. has resumed restarting the factory with a production capacity of 10,000 tons as a first stage, and production will be raised in the future to 25,000 tons per month. The factory was forced to stop in 2012, due to the lack of raw materials and foreign experts, as well
Restarting Mukalla Steel Factory, with a production capacity of 10,000 tons per month Read More »
The National Committee for the steel industry in the Federation of Saudi Chambers has joined the Arab Iron and Steel Union, the largest Arab gathering of iron producers in Algeria; this enhances the Kingdom’s place and position in the Arab world in the iron industry. The Chairman of the National Committee for the steel industry
Engineer Saeed Ghamran Al Rumaithi, CEO of Arkan Group and CEO of Emirates Steel stated that the industrial sector is at the heart of the UAE vision, which seeks to accelerate the pace of economic diversification in the country. Saeed Ghamran explained that the strong results achieved by Emirates Steel Arkan” during the first quarter
Emirates Steel provides 65% of the local market needs Read More »
Saudi Arabia Al-Ittefaq Steel Al-Ittefaq Steel – one of the largest and reputed steel manufacturers in GCC. The integrated facility – embraced with State-Of-Art technologies, skilled manpower, continuous innovation/investments and social responsibilities. The largest private sector steel manufacturer in KSA responsible and responsive to the country, communities and environments in which it works. We have production facilities that deliver
The General Iron and Steel Company revealed the stages of completion in the new factory, stressing that the completion rate has reached 90%, and the company explained that the remaining percentage is related only to data entry while indicating that the specified production capacity of the plant as a final product is in the range
Qatar Steel hosted the 124th meeting of the Board of Directors and the 55th meeting of the General Assembly of the Arab Iron and Steel Union (AISU) at the Sharq Village & Spa in Doha on May 22 and 23, 2022. The meetings took place after an almost two-year pause in the activities of AISU
Qatar Steel hosted the 124th session of the Board of Directors of the Arab Iron and Steel Union and the 55th ordinary session of the General Assembly during the period from 23-24 May 2022, at the Sharq Hotel in Doha, in the presence of 65 iron and steel companies members of the Union, after two
The Arab Iron and Steel Union concluded the work of the fourth meeting of the Economic Committee in Doha – Qatar, which was held on May 22, hosted by Qatar Steel Company. Where the committee presented a study on the economic situation of the Arab countries and its impact on the volume of steel production
Arab Iron and Steel Union concludes the work of the Economic Committee meeting in Doha Read More »
According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia increased in April 2022 to 4292.81 riyals, up by 14.5% compared to the price of March 2022, which amounted to 3747.95 riyals, and up by 27% compared to April 2021, which amounted to 3377.8 riyals. As for
Steel and cement prices in Saudi Arabia Read More »
Rebar prices in the local market in the UAE witnessed a decline of 8% during May, from an average of about 3,200 dirhams per tonne last March to about 2,950 dirhams per tonne, according to sources working in the building materials trade. The sources pointed out that the decline came after a sudden jump of
UAE: Rebar absorbs the repercussions of the Ukrainian crisis and is down by 8% Read More »
• Group achieves Q1 net profit of AED 72.6 million on revenue of AED 2.04 billion • Arkan Group adopts interim brand “Emirates Steel Arkan (ADX: EMSTEEL)” Emirates Steel Arkan (ADX: EMSTEEL) (the “Group”), the largest publicly traded building materials company in the UAE, today announced its first quarter results. The Group reported revenues of
Emirates Steel Arkan Announces Q1 2022 Profit Read More »
Saudi Arabia’s Ministry of Industry and Mineral Resources said it had provided $6 billion for a steel plate complex and an electric car battery metal factory as part of plans to attract $32 billion in investment in the mining sector. The Minister of Industry and Mineral Resources Bandar Alkhorayef said that the ministry’s goal is
Saudi Arabia announces $6 billion investments in steel complex Read More »
In the first quarter of 2022, Qatar Steel resumed its second DRI facility (1.5 million tonnes) against the first facility (0.8 million tonnes), which operated until 2021. As a result, the production volume of all-steel value chain segments (DRI/HBI, billet, and long steel) improved by 20% year-over-year and 33% compared to the fourth quarter of
Qatar Steel improves production in Q1 Read More »
Emirates Steel Arkan Group, the UAE’s largest publicly traded steel and building materials company, saved AED 220 million in 2021 due to higher efficiency as the Group accelerates its strategy to harness innovation and unlock future-proof solutions. Reflecting its knowledge-based creative culture, innovative ideas submitted through Emirates Steel’s strategic transformation program “Namaa” by employees helped
Emirates Steel Arkan Group saved AED 220 million through innovation in 2021 Read More »
A Reuter’s poll of economists said that the economic growth of the Gulf Cooperation Council countries would accelerate this year to a pace not seen in the last ten years, and experts said that high inflation and a slowdown in the global economy are the most significant risks. Crude prices, the main driver of Gulf
GCC countries’ economies will grow by 5.9% in 2022 Read More »
The International Monetary Fund revealed in a report its latest forecast for the Saudi economy for 2022. It was stated in the “World Economic Outlook” report issued by the Fund on April 19. According to the report, the International Monetary Fund raised its forecast for the growth of the Saudi economy in 2022 to 7.6
IMF reveals its expectations for the Saudi economy in 2022 Read More »
IMF raises its forecast for Qatar’s economic growth to 3.4% in 2022 The International Monetary Fund raised its forecast for Qatar’s economic growth in 2022 to 3.4%, compared to a previous forecast of 3.2%. In 2021, the Qatari economy recorded a real growth of 1.5%, compared to an estimate of the International Monetary Fund at
IMF raises its forecast for Qatar’s economic growth to 3.4% in 2022 Read More »
According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia increased in March 2022 to 3747.95 riyals, up by 4.3% compared to the price of February 2022, which amounted to 3591.70 riyals, and up by 7.9% compared to March 2021, which amounted to 3473.7 riyals. As for
Steel and cement prices in Saudi Arabia 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 »
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
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 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
Rebar prices in Kuwait in March 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 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
Prices of Rebar in Kuwait Read More »