Being under the pressure of the slow demand, Emirates Steel lowered its October rebar price to AED 2,406/t ($655/t) EXW, down from AED 2,608/t ($710/t) EXW in September. Prices are indicated without 5% VAT. $1 = AED 3.673.
UAE rebar prices in October Read More »
The Bahraini Cabinet approved a draft law amending the value-added tax, and increasing it from the current 5% to 10%, starting from January 2022. The Council referred the draft law amending the value-added tax to Parliament for approval. The Bahrain government said in a statement on Monday that the annual growth of real GDP reached
Bahrain government approves value-added tax increase to 10% 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 238 10 mm Kuwait Ton 238 12 mm Kuwait Ton 238 14 mm Kuwait Ton 238 16 mm Kuwait Ton 238 Domestic Rebar Size Origin
Prices of Rebar in Kuwait Read More »
The Brazilian ministries of foreign relations and economy jointly said this week the Gulf Cooperation Council (GCC) will not impose anti-dumping (AD) duties on steel imports from Brazil. Despite not disclosing specifically which steel products were under investigation, both ministries applauded the decision. “If imposed, the duties would have a negative impact over the Brazilian
Gulf Cooperation Council declines to impose duties on steel imports from Brazil Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3669.99 riyals in August 2021, down 0.9% compared to July 2021, which amounted to 3705.29 riyals, and an increase of 24.5% compared to the price of July in 2020, which amounted to 2946.9 riyals. As for the
Average prices of steel and cement in Saudi Arabia in August 2021 Read More »
Emirates Steel announced a reduction in the prices of rebar for September delivery in support of the construction sector and to ensure its sustainability. This came during the company’s participation in the “Big Five” exhibition, which was launched at the Dubai World Trade Center and will continue until September 15. Emirates Steel invited customers, developers
Emirates Steel reduces rebar prices for September delivery Read More »
The Ministry of Industry and Advanced Technology (MoIAT) signed three separate memoranda of understanding (MoU) with Etisalat, Emirates Steel and TAQA, the Abu Dhabi National Energy Company, as the first three large national companies joining, to mark their commitment to the National In-Country Value (ICV) Programme. By joining the National ICV programme, which was officially
Etisalat, Emirates Steel, TAQA first joiners of National ICV Programme Read More »
The Gulf Cooperation Council (GCC) has decided against imposing safeguard measures on imports of certain steel products, South Korea’s trade ministry said, a move expected to ease concerns for South Korean exporters. The ministry said the ministerial committee of the GCC — an economic union of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United
Gulf states decide not to impose safeguard measures on steel imports Read More »
Baoshan Iron & Steel Co Ltd (Baosteel), China’s biggest listed steelmaker, said on Wednesday it had signed an initial pact with the world’s top crude oil producer Saudi Aramco to study building a steel plate factory in Saudi Arabia. The nonbinding memorandum of understanding was one of a number of agreements state-controlled Aramco inked on
China’s Baosteel, Aramco ink pact on Saudi steel plate factory Read More »
As a continuation of latest announced initiatives and projects, which contribute to the reduction of climate change effects, the Public Investment Fund (PIF) in collaboration with the Saudi Tadawul Group today announced an intent to establish Riyadh Voluntary Exchange Platform for offsets and carbon credits within the Middle East and North Africa Region. This initiative
In our constant efforts and commitment towards maintaining the balance of pricing within the local steel market and to support the country’s construction sector, Emirates Steel has reduced its Rebar (8-32 mm) prices for the upcoming month of September to AED 2,610/per ton, approximately $710, compared to the AED 2,956/per ton sold, close to $805
Emirates Steel reduces rebar prices for the month of September Read More »
Emirates Steel, the leading integrated steel plant in the Middle East, awarded a ‘General Designer’ contract to Tata Consulting Engineers LTD, Abu Dhabi, for its new fully automated first-of-its-kind Hot Rolled Coils (HRC) plant in the MENA region. The agreement aims to conduct a comprehensive evaluation and study for all phases of the project. The
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 244 10 mm Kuwait Ton 244 12 mm Kuwait Ton 244 14 mm Kuwait Ton 244 16 mm Kuwait Ton 244 Domestic Rebar Size Origin
Prices of Rebar in Kuwait 30-8-2021 Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 161.7 million tonnes (Mt) in July 2021, a 3.3% increase compared to July 2020. China produced 86.8 Mt in June 2021, down -8.4% on July 2020. India produced 9.8 Mt, up 13.3%. Japan produced 8.0 Mt, up 32.5%. Crude
World crude steel production increased by 3.3 % in July 2021 Read More »
Having been protected by trade measures for seven years, Moroccan steel producers call for the prolongation of existing safeguards for long and flat products. The local authorities have decided to satisfy the request and already started respective proceedings. The Ministry of Industry, Trade, Investment and Digital Economy opened on August 17, 2021 two separate cases
Moroccan mills insist on extension of safeguards both for longs and flats Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3705.29 riyals in July 2021, up 0.04% compared to June 2021, which amounted to 3703.45 riyals, and an increase of 25.7% compared to the price of July in 2020, which amounted to 2947.7 riyals. As for
Average prices of steel and cement in Saudi Arabia in July 2021 Read More »
In June this year, Turkey’s total hot rolled coil (HRC) exports decreased by 32.3% to 168,545 metric tons compared to May and were down 45.2% year on year, according to the data provided by the Turkish Statistical Institute (TUIK). These exports had a value of $148.02 million, down 25.4% month on month, while increasing by
Turkey’s HRC exports down 27.2% in H1 2021 Read More »
Abu Dhabi National Energy Company TAQA Group and Emirates Steel have revealed a partnership to develop a large-scale green hydrogen project to enable green steel production in the MENA region. The hydrogen will enable green and low steep manufacturing, saving energy while creating a sustainable and clean manufacturing process. Under the newly signed memorandum of
In June this year, Turkey’s rebar exports amounted to 681,787 metric tons, up 1.1 percent compared to May and increasing by 42.4 percent year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). The revenue generated by these exports totaled $433.47 million, increasing by 3.0 percent compared to May and
Turkey’s rebar exports increase by 34.7% in H1 2021 Read More »
Qatar Steel became the first company in the Middle East and one of the four companies in the world to achieve “1 Rosette” rating for its good performance compared with other 22 certified companies complying only basic requirements of “PASS” rating, to be approved by the authority of UK CARES under sustainable construction steel certification
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3703.45 riyals in June 2021, up 10.5% compared to May 2021, which amounted to 3351.19 riyals, and an increase of 43.8% compared to the price of June in 2020, which amounted to 2574.4 riyals. As for the
Average prices of steel and cement in Saudi Arabia in June 2021 Read More »
Emirates Steel’s headquarter and warehouse in Musaffah Industrial Area, Abu Dhabi, has received the Platinum Rating for green buildings from Leadership in Energy and Environmental Design (LEED v4) awarded by the US Green Building Council (USGBC), achieving 80 and 82 points respectively. This is a new global recognition of Emirates Steel’s success in implementing the
Emirates Steel’s headquarter receives LEED Platinum Rating Read More »
Despite the unprecedented measures to curb the pandemic spreading, Oman remains deeply concerned about the matter. The authorities were forced to make a tough decision and implement additional restrictions during religious holidays. The Supreme Committee decided to introduce total lockdown in the Sultanate during the Eid Al Adha holidays. Oman banned travel movement and shut
Oman to extend evening lockdown, no major impact on steel industry Read More »
An overview of the Middle East and North Africa region At the beginning of 2020, the Arab countries were subjected to two major shocks; the first shock was the Coronavirus pandemic, and the subsequent economic effects like the rest of the world, while the second shock was the drop in oil prices. These two shocks
Summary of the third report, the Economic Committee of the Arab Iron and Steel Union 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 247 10 mm Kuwait Ton 247 12 mm Kuwait Ton 247 14 mm Kuwait Ton 247 16 mm Kuwait Ton 247 Domestic Rebar Size Origin
Prices of Rebar in Kuwait 30-6-2021 Read More »
The board of Arkan Building Materials Company has approved the offer, received from General Holding Corporation (Senaat) on 9 May, to transfer its wholly-owned subsidiary, Emirates Steel Industries (Emirates Steel), to Arkan. Arkan will acquire Emirates Steel in exchange for the issuance of a convertible instrument to Senaat, according to a press release on Thursday. Upon closing of the transaction, the
Arkan’s board approves Emirates Steel acquisition transaction Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3351.19 riyals in May 2021, a decrease of -0.7% compared to April 2021, which amounted to 3377.76 riyals, and an increase of 26.8% compared to the price of May in 2020, which amounted to 2664.1 riyals.
Average prices of steel and cement in Saudi Arabia in May 2021 Read More »
The Jordan Chamber of Industry, in agreement with the local iron and steel mills, issued a new guidance manual for the prices of the sale of manufactured rebar in the Kingdom. According to the bulletin, the price of rebar grade 60 between 417.8 – 480.84 dinars EXW without sales tax. According to the bulletin, which is
Weekly indicative bulletin of rebar prices in Jordan Read More »
Ambassador Muhammadi Ahmed Al-Ni, the new Secretary-General of the Council of Arab Economic Unity of the League of Arab States, began his work in the library of the General Secretariat, where he held a series of meetings with the cadres of the Council to find out the latest developments in the work of the Council
Lebanon continued to decrease steel product imports in 2020. Along with the troubled economic and political situation, the pandemic made a serious contribution to the negative dynamics. The structure of the trade flow also changed. Total steel imports to Lebanon decreased by 50% year-on-year in 2020. According to the Lebanese Customs Administration, the country received
Lebanon halves steel imports in 2020 Read More »