Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, and Ursula von der Leyen, President of the European Commission, agreed during a phone call to launch negotiations on a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the European Union. According to the Emirates News Agency, the President of the UAE […]
UAE and EU Launch Economic Partnership Negotiations Read More »
EMSTEEL has announced its recognition as a 2025 Steel Sustainability Champion by the World Steel Association (worldsteel), cementing the Group’s position as the sole receiver of the prestigious accolade in the Middle East and North African region for a second consecutive year. The recognition was presented during the worldsteel Special General Meeting held in Sydney,
US President Donald Trump announced tariffs on US trading partners on Wednesday in a speech at the White House on what he described as “Liberation Day,” which he said would bring $5 trillion to the US economy. The list included the names of Arab countries, according to their order on the White House list:
Arab countries on Trump’s new tariff list Read More »
EMSTEEL Group , one of the largest publicly traded steel and building materials manufacturers in the region, has announced a strategic partnership with Yellow Door Energy, the largest sustainable energy partner for businesses in the Middle East and Africa, to develop the largest industrial solar PV rooftop project in the UAE. The 31.5-megawatt-peak (MWp) solar
According to the latest report issued by World Steel on crude steel production, Arab countries’ crude steel production in February reached 3.531 million tons, an increase of 5.4% compared to February 2024. Egypt topped Arab countries in steel production in February, with a production volume of 893.6 thousand tons, a 6.4% increase. Saudi Arabia followed
Arab countries’ crude steel production increased by 5.4% in February 2025 Read More »
The Gulf Cooperation Council (GCC) has announced the imposition of anti-dumping duties on imports of aluminum alloy flat products from China. According to the GCC’s Bureau of Technical Secretariat for Anti-Injurious Practices in International Trade (GCC-TSAIP), the duties will range between 7.1pct and 20pct and will remain in effect for five years, starting April 25,
GCC imposes AD tariffs on aluminum alloy flat steel imports from China Read More »
Saudi Iron and Steel Company (Hadeed) has announced that long steel prices will remain unchanged for April deliveries. The company is offering rebar (12-32 mm) at SAR 2,350 ($626) per ton, while wire rod (6.5-16 mm) is set at SAR 2,320 ($618) per ton. Above prices are on a CPT Riyadh basis, excluding 15pct VAT.
Hadeed leaves long steel prices unchanged for April deliveries Read More »
Emirates Steel, a subsidiary of the EMSTEEL Group, has announced that rebar prices for April production will remain unchanged for the third consecutive month. The company has set the rebar price at AED 2,660 (USD 724) per ton for deliveries to Abu Dhabi, while shipments to Dubai, Sharjah, and the Northern Emirates are offered at
Emirates Steel holds rebar prices steady for April production Read More »
Riyadh Steel Company, which operates in the steel industry and scrap metal sales, reported a 82% decrease in profits to SAR 2 million by the end of 2024, compared to SAR 11.1 million achieved during the same period in 2023. Summary of financial results (million) Item 2023 2024 Change Revenue 134.20 162.57 21.1 % Gross
Riyadh Steel profits reach SAR 2 million (-82%) by the end of 2024 Read More »
Dubai-based steel fabricator, Fabtech Engineering has signed a strategic agreement with French industrial leader Groupe M to drive innovation and sustainability in the UAE’s nuclear and renewable energy sectors. Fabtech, a key player in heavy manufacturing across the GCC and global markets, will expand its nuclear sector offerings by supplying ‘Made in UAE’ products to
Fabtech partners with Groupe M to advance steel solutions for energy sector Read More »
It is expected that the demand in the Kingdom of Saudi Arabia will witness a decline in demand for rebar due to the slowdown in construction activities in general with the reduction of working hours. The average price level of rebar in Saudi Arabia decreased by 30-50 riyals per ton ($8-13 per ton) compared to
Rebar prices in Saudi Arabia during March 2025 Read More »
Demand in the rebar sector in Jordan continues to decline due to local and global challenges and the traditional weakness in business activity during the month of Ramadan. Jordanian producers are offering rebar to local customers at JOD 466-473/tonne ($659-667/tonne) ex-factory with a 16% sales tax, down by $6-7/tonne compared to last week. Ex-tax prices
Rebar prices in Jordan decline during March 2025 Read More »
According to the latest report issued by the World Steel Organization on crude steel production. Arab countries’ crude steel production in January 2025 amounted to 3.6 million tons, down 2% compared to January 2024. Egypt topped Arab countries in steel production during January with a production 890.1 thousand tons, down 9.1%. Saudi Arabia followed with
Crude steel production in Arab countries declined by 2.0% in January 2025 Read More »
EMSTEEL has announced the launch of its Asset Enhancement Programme – a strategic initiative with a CapEx of approximately AED 625 million, designed to enhance production capabilities and introduce advanced steel solutions to meet growing market demands. The programme directly aligns with the UAE’s Operation 300bn, aiming to upscale innovation in the UAE’s industrial sector
Saudi Iron and Steel Company (Hadeed) has lowered its long steel prices by SAR 50 (USD 13) per ton for March deliveries. The new pricing sets rebar (12-32 mm) at SAR 2,350 (USD 626) per ton, while wire rod (6.5-16 mm) is now priced at SAR 2,320 (USD 618) per ton. The company has set
Saudi Iron and Steel Company – Hadeed cuts rebar prices for March deliveries Read More »
The profits of the National Iron and Steel Company – Watani Steel , which works in the production and manufacture of iron blocks and reinforcing steel, rose to 9.9 million riyals by the end of 2024, compared to profits of 4.2 million riyals achieved in the same period in 2023. Item 2023 2024 Change Revenue
Saudi Arabia: Watani Steel profits 9.9 million riyals by the end of 2024 Read More »
Emirates Steel, a subsidiary of the EMSTEEL Group, has announced that rebar prices for March production will remain unchanged. The company’s price for rebar deliveries to Abu Dhabi is set at AED 2,660 (USD 724) per ton, while shipments to Dubai, Sharjah, and the Northern Emirates are priced at AED 2,668 (USD 726) per ton.
Emirates Steel keeps rebar prices unchanged for March Read More »
The Arab Iron and Steel Union held today the fourth technical committee meeting at the headquarters of FOULATH Club in Manama, Kingdom of Bahrain. During this meeting, the opportunities and challenges facing Arab steel companies to achieve carbon neutrality in the iron and steel industry were studied, and a “comparative study of direct reduction technology
Arab Iron and Steel Union holds the fourth technical committee meeting in Bahrain Read More »
MSTEEL (‘The Group’, one of the GCC region’s largest publicly traded steel and building materials manufacturers, today unveiled its ambitious decarbonization strategy. The company aims to achieve a 40% reduction in absolute greenhouse gas (GHG) emissions in its Steel Business Unit and a 30% reduction in its Cement Business Unit by 2030, using 2019 as
EMSTEEL announced today its preliminary (unaudited) financial results for Full Year 2024. During 2024, EMSTEEL maintained overall steel production volumes in line with the level attained during 2023. The Group delivered total revenues of AED 8.3 billion, approximately 6% lower than the AED 8.9 billion reported for 2023. This decrease in revenue is due to
EMSTEEL delivers AED 8.3 billion in revenue for 2024 Read More »
Engineer Saeed Ghumran Al Rumaithi, CEO of Emsteel Group, stated that the group achieved good performance in 2024, noting the group’s focus on the local market to increase its sales volume in particular, with the launch of new projects, and the group’s success in outperforming many competitors, and achieving growth in its business. Al Rumaithi
Al Rumaithi: We cover 60% of the local market’s needs for iron products Read More »
The Ministry of Commerce and Industry in Qatar announced the signing of an agreement between Qatar Steel and Bahrain Steel, worth $1.266 billion, covering 5 million metric tons over five years, which will enhance industrial cooperation between the two sides and strengthen the steel industry in the region. The ministry stated in a statement that
Qatar Steel and Bahrain Steel Sign $1.266 Billion Supply Agreement Read More »
In 2024, Qatar Steel’s sales volume amounted to approximately 2.7 million tons of various products, an increase of 38.1% year-on-year, according to the corporate report. DRI/HBI came in first place with a volume of approximately 1.4 million tons and a percentage of 53% of the sales volume and an increase of 167% compared to sales
Qatar Steel’s sales of DRI/HBI increased by 167% in 2024 Read More »
Emsteel Group has forged strategic partnerships to pioneer streamlined raw material transport and cross-border rail connectivity in the GCC, while fostering economic collaboration between the UAE and Oman. The landmark agreements highlight a shared commitment to efficient, sustainable transportation of raw materials critical to EMSTEEL’s cement production, while also aligning with the UAE’s Operation 300bn
EMSTEEL Expands Regional Collaboration with UAE-Oman Raw Material Logistics Agreement Read More »
Egypt’s rebar production witnessed a remarkable increase in the past month of December, as it exceeded one million tons for the first time and reached 1.025 million tons, an increase of 58% compared to the production of December 2023, accompanied by an increase in rebar sales, which recorded 876 thousand tons in December 2024, by
Rebar production in Egypt witnesses record numbers in December 2024 Read More »
Saudi Iron and Steel Company (Hadeed) has released its long steel prices for February deliveries. The price of rebar (12-32 mm) remains unchanged at SAR 2,400 (USD 639) per ton, while wire rod (6.5-16 mm) has been reduced by SAR 70 (USD 18) per ton to SAR 2,370 (USD 631) per ton. Above prices are
Hadeed updates long steel prices for February deliveries Read More »
The rebar market in Saudi Arabia witnessed a decline in prices in most months of the year 2024 compared to the same period in 2023. The average price of rebar in 2024 amounted to about 2903.81 riyals, a decrease of 3.1% compared to the average price of the same rebar in 2023, which amounted to
Rebar prices in Saudi Arabia decline in 2024 Read More »
According to the latest report issued by the World Steel Organization on crude steel production. Arab countries’ crude steel production in December 2024 amounted to 3.7 million tons, an increase of 3.2% compared to December 2023. Egypt topped Arab countries in steel production in December with a production volume of 991.2 thousand tons, an increase
Arab countries’ crude steel production to rise by 2.6% in 2024 Read More »
Emirates Steel, a part of the EMSTEEL group, has announced stable rebar prices for February production. The price for rebar deliveries to Abu Dhabi is set at AED 2,660 (USD 724) per ton, while shipments to Dubai, Sharjah, and the Northern Emirates are offered at AED 2,668 (USD 726) per ton. These prices are exclusive
Emirates Steel maintains rebar prices for February 2025 Read More »
The United Arab Emirates, represented by the Ministry of Finance, has successfully concluded the final round of negotiations for Double Taxation Avoidance Agreement on income and capital with the Russian Federation. This milestone underscores the UAE’s commitment to strengthening economic and tax cooperation, fostering a business-friendly environment that protects taxpayers’ rights, prevents double taxation, and
UAE, Russia hold final round of negotiations for Double Taxation Avoidance Agreement Read More »