The increasing uncertainty in the semi-finished products sector – the billet – due to the lack of supply and the increase in international prices led to a review of rebar prices in the Kingdom of Saudi Arabia along with the local construction activity. As of March 1, SABIC Steel announced a price increase of 50 […]
Rebar prices rise in Saudi Arabia with the rise of semi-finished products Read More »
Emirates Steel, the leading integrated steel plant in the Middle East, has sealed a memorandum of understanding (MOU) with Mauritania’s Société Nationale Industrielle Et Minière (SNIM) to look into the feasibility of creating a joint venture company to produce iron oxide pellets. Under the 18-month agreement, signed by Engineer Saeed Ghumran Al Remeithi, Group CEO
Emirates Steel and SNIM Agree on Vital Feedstock Supply for UAE Steel Production Read More »
Watani Iron and Steel Company “Watani Steel” achieved a net profit increase of 51.4% during the year 2021 on an annual basis. According to the company’s financial statements issued March 1 on the Saudi Tadawul website, the net profit amounted to 47.06 million riyals after zakat and tax, compared to 31.08 million riyals in 2020.
“Watani Steel” profits rise 51.4% in 2021, supported by sales Read More »
While raw materials and billet tags are on the rise, long steel producers have no choice but to adjust their prices. Among these companies is Universal Rolling (Unirol), the sole manufacturer of steel reinforcement bars in Bahrain, which has made such adjustments in the new sales round. After maintaining a stable price for two months,
Rebar prices up in Bahrain to offset billet cost Read More »
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 Steel Pipe turns to profitability in 2021 Read More »
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
Rebar prices skyrocket in Jordan Read More »
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
Prices of Rebar in Kuwait Read More »
crude benchmarks rose for a fifth week in a row, gaining around 2% this week. Prices were up more than 10% so far this year on concerns over tightening supplies. Brent futures fell 49 cents, or 0.6%, to settle at $87.89 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 41 cents, or 0.5%,
Oil climbs for 5th week on supply concerns Read More »
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
15th Arab Steel Summit Read More »
Global benchmark Brent crude jumped on Tuesday to $80 a barrel, its highest since November, as OPEC+ agreed to stick with its planned increase for February based on indications that the Omicron coronavirus variant would have only a mild impact on demand. Brent futures settled up $1.02, or 1.3%, at $80 a barrel, almost back
Oil Ends Up at $80/bbl as OPEC+ Sticks with Feb Output Hike Read More »
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
UAE Central expects GDP growth of 4.2% in 2022 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
Prices of Rebar in Kuwait 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
Reinforcing steel prices rise in Tunisia 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 »
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 »
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
Prices of Rebar in Kuwait Read More »
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 »
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 »
SABIC unveiled its global strategy towards carbon neutrality at the inaugural Saudi Green Initiative (SGI) Forum, which took place under the patronage of His Royal Highness Crown Prince Mohammed Bin Salman in Riyadh. With the theme “A new era of action: Oasis Alive”, the invitation-only event was attended by a high-level delegation from the company
SABIC announces carbon neutrality strategy at “Green Saudi” initiative forum Read More »
The Council of Arab Economic Unity held yesterday its fifty-fourth meeting of the Arab unions specialized in work quality, which was organized by the Council of Arab Economic Unity, in the presence of the leaders of the Arab unions specialized in quality. The Arab unions’ periodic meeting dealt with achievements and recommendations made at the
Emirates Steel, the leading integrated steel manufacturer in the Middle East, adopted UK CARES’ state-of-the-art Dynamic QR Code verification technology to assure fast and seamless traceability of its rebar products as part of its major drive to digital assurance. Emirates Steel is the first manufacturer to automatically upload the product test data using a dedicated
Emirates Steel makes great dynamic strides in digital assurance 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 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
Prices of Rebar in Kuwait Read More »
The Hamriyah Free Zone Authority (HFZA) added another industry leader to its investors base with ArcelorMittal Projects, a part of the ArcelorMittal Group, the world’s leading Steel and Mining company, recently acquiring the assets of a pipe and coating mill located in the Hamriyah Free Zone. Besides the acquisition, ArcelorMittal Projects has leased 1.38 million
HFZA inks investment deal with ArcelorMittal DSTC FZE Read More »
Bahrain Steel, a key pellet supplier in the GCC and sister company of merchant bar producer SULB, continues to strengthen cooperation with foreign customers, aiming to benefit from strong raw materials segment fundamentals. The company hopes to take advantage of market activity in China. Generally high iron ore prices in the global market are playing
Bahrain Steel intends to enter the Chinese market by exporting 200,000 t in 2021 Read More »
SULB, a major steel producer serving international markets, inaugurated the newly constructed Wharf. The new private port facility, located at Salman Industrial City in Hidd, is set to significantly enhance the company’s supply chain and deliver strong environmental and economic benefits for the Kingdom of Bahrain and its customers. High level dignitaries, SULB’s Board and
SULB inaugurates $20mn wharf at Salman Industrial City in Hidd Read More »
DP World Group has completed tests of container storage on raised pallets called “BOXBAY” system at the first full-size facility to be built in Jebel Ali Port in Dubai to prove that the innovative technology works successfully in the real world. More than 80,000 container movements have been completed since the trial operation of the
Rebar prices in the Kingdom recorded during the month of September a decrease of 13% after the surge it witnessed. Specialists linked the reasons for the decline to a 24% drop in global crude prices, as the price of a ton of iron ore on global stock exchanges was less than $100. The average prices
Rebar prices in Saudi Arabia drop by 13% Read More »