Emirates Steel Arkan has announced rebar prices for September at AED 2,447.25 ($666) per tonne CPT Abu Dhabi and AED 2,456.25 ($669) per tonne CPT Dubai, Sharjah and Northern Emirates. An increase of $19-20 per tonne compared to last month’s prices. These prices are exclusive of 5% VAT. 1 USD = 3.67 AED
Emirates Steel Arkan announces increase in rebar prices for September Read More »
Riyadh Steel Company announced yesterday, Monday, that it signed a short-term banking facilities agreement (compliant with the provisions of Islamic Sharia) with the Saudi First Bank worth 10 million riyals. The company said in a statement on Tadawul that the financing period is one year, noting that the facilities agreement is secured by a promissory
Riyadh Steel obtains banking facilities with Al-Awwal Bank worth 10 million riyals Read More »
According to the latest report issued by the World Steel Organization on crude steel production. Arab countries’ crude steel production amounted to 3.4 million tons in July 2024, an increase of 2.7% compared to July 2023. July 2024 production was. Egypt topped Arab countries in steel production in July with a production volume of 959
Arab countries’ crude steel production increases by 4.9% in January – July 2024 Read More »
The profits of Watani Iron and Steel Company (Watani Steel), which works in the production and manufacture of billet and rebar, rose to 3.4 million riyals by the end of the first half of 2024, compared to profits of 1.2 million riyals in the same period of the previous year. Item 6 months 2023 6
Watani Steel profits rise to 3.4 million riyals by the end of H1 of 2024 Read More »
Riyadh Steel Company’s profits, which are active in the steel industry and scrap sales, rose slightly to 2.53 million riyals by the end of the first half of 2024, compared to profits of 2.52 achieved during the same period in 2023. Summary of financial results (million) Item 6 months 2023 6 months 2024 Change Revenue
Riyadh Steel profits rise slightly to 2.5 million riyals by the end of H1 of 2024 Read More »
Saudi Iron and Steel Company (Hadeed) will lower its wire rod prices by SAR 100 (USD 27) per ton for September deliveries. The new price for wire rod (6.5-16 mm) will be SAR 2,435 (USD 648) per ton. Hadeed recently reduced its rebar prices by SAR 40 (USD 11) per ton, bringing them to SAR
Hadeed cuts wire rod prices for September deliveries Read More »
Jordan Steel Company announced rebar prices for August 2024, a decrease of between 3-5 dinars over last month’s prices. The prices for Grade 60 EXW, between 453 and 462 dinars per tonne, excluding sales tax. However, with sales tax, it is between 540 and about 550 dinars per tonne. Grade Price without tax Price
Jordan Steel announces the prices of rebar for August 2024 Read More »
Vale S.A., through its subsidiary Vale International SA, has signed an agreement to sell 50% of its distribution center in the Sultanate of Oman for $600 million to Apollo Global Management (Apollo), a leading provider of alternative asset management and pension funds. The transaction is expected to be completed by the end of 2024, subject
Oman: Vale Sells 50% of Its Stake in Sohar Distribution Center to Apollo Read More »
The Director General of the General Administration of Customs, Abdullah Al-Sharhan, issued a decision to extend the increase in customs duties on rebar and wire rod from 5 percent to 10 percent for a full year. Al-Sharhan’s decision comes in addition to Customs Instructions No. 2 of 2023 regarding raising customs duties on iron imports,
Kuwait: Customs extends 10% increase in steel import duties Read More »
“Emirates Steel Arkan” announced its financial results for the first half of 2024, as the group’s revenues amounted to 3.96 billion dirhams, while its earnings before interest, taxes, depreciation and amortization amounted to 503 million dirhams. The group provided stable performance during the first half of 2024, despite the difficult conditions that affected local markets
4 billion dirhams revenues of “Emirates Steel Arkan” in H1 of 2024 Read More »
Local and foreign steel industry companies have pledged billions of dollars in projects that could elevate the region’s countries as centers for green steel manufacturing. Steel production accounts for between 7% and 9% of global carbon dioxide emissions, making it a challenging industry to decarbonize. With strong growth expected in global steel production in the
Gulf countries chart path to green steel production Read More »
Arabian Gulf Steel Industries, the national company specialized in manufacturing sustainable steel and headquartered in Abu Dhabi, announced achieving climate neutrality (net zero emissions) at its steel plant in the Emirate of Abu Dhabi, in commitment from the company to enhance environmental responsibility and sustainable manufacturing efforts. The company’s efforts are in line with the
Arabian Gulf Steel Industries achieves climate neutrality Read More »
Baosteel Iron & Steel Co., China’s largest listed iron and steel company, said it will double its investment in a joint venture to manufacture steel plates in Saudi Arabia to $1 billion, up from about $437.5 million. Baosteel said in a separate filing with the Shanghai Stock Exchange that it will reduce additional asset guarantees
China’s Baosteel to boost investment in steel plate in Saudi to $1 billion Read More »
According to the latest report issued by the World Steel Organization on crude steel production, the Arab countries’ production of crude steel reached 3.2 million tons in June 2024, a decline of 0.4% compared to June 2023. The production of June 2024 was the lowest since May 2023. Saudi Arabia topped the Arab countries in
Arab countries’ crude steel production increased by 5.3% in H1 of 2024 Read More »
Qatar Navigation Company Q.P.S.C. (“Milaha”), a leading provider of marine and logistics solutions, and Qatar Steel, the leading iron and steel manufacturer in Qatar, today signed a five-year agreement to provide stevedoring services that will facilitate the import and export of products manufactured by Qatar Steel. According to the agreement, Milaha will provide Qatar Steel
Emirates Steel, a subsidiary of Emirates Steel Arkan Group, announced the signing of a new strategic partnership with Eversendai, a global leader in the field of iron, steel and metal construction. This partnership aims to enhance cooperation between the two companies in the ski village project at the Trogena Resort in the city of NEOM,
The rebar market in the Kingdom of Saudi Arabia witnessed a decline in prices during the first half of 2024 compared to the same period in 2023, as the average price of rebar during the first half of the current year reached 2885.04 riyals, a decline of 6.9% from the average of the first half
Rebar prices in Saudi Arabia declined in H1 of 2024 Read More »
Prices of main building materials recorded mixed performance during the first quarter of 2024 compared to the same period in 2023. While cement prices increased by a rate ranging between 2 and 8.6%, twisted rebar declined by about 1.8%, according to data from the Dubai Statistics Center. Prices of salt-resistant cement with a capacity of
UAE: Cement prices rise by 9%… and rebar prices decline by 2% Read More »
The Ministry of Housing and Urban Planning signed an agreement with the Chinese company CMEC to implement the third phase of the Sitra housing project. This came during a working meeting in the Chinese capital, Beijing, chaired by the Minister of Housing and Urban Planning, Amna Al Rumaihi, and the Chairman of the Board of
Emirates Steel Arkan announced that it has signed a memorandum of understanding with the Danieli Group, the international company. The memorandum was signed by Saeed Alghafri, CEO of Emirates Steel Arkan, and Rolando Paolone, CEO and CTO of Danieli, during the Fifth Danieli Innovaction Meeting that took place at Danieli headquarters in Italy. Emirates Steel
Emirates Steel Company Arkan signs MoU with Danieli to reduce carbon Read More »
Jordan Steel Company announced rebar prices for July 2024, an increase of between 4 -5 dinars over last month’s prices. The prices for Grade 60 EXW, between 457 and 462 dinars per tonne, excluding sales tax. However, with sales tax, it is between 545 and about 550 dinars per tonne. Grade Price without tax
Jordan Steel announces the prices of rebar for July 2024 Read More »
UAE’s Emirates Steel Arkan has maintained rebar prices for its July production. The company will continue offering rebar (10-40 mm) at AED 2,369 (USD 645) per ton EXW, AED 2,377 (USD 647) per ton CPT Abu Dhabi, and AED 2,384 (USD 649) per ton CPT Dubai, Sharjah, and Northern Emirates. These prices exclude 5pct VAT.
Emirates Steel Arkan keeps rebar prices unchanged for July output Read More »
Saudi Iron and Steel Company (Hadeed) has increased rebar and wire rod prices for its July production. The company is offering rebar (12-32 mm) at SAR 2,410 (USD 642) per ton, an increase of SAR 35 (USD 9) per ton compared to the previous month. The price of wire rod (6.5-16 mm) has also risen
Saudi Iron and Steel Company (Hadeed) raises long steel prices Read More »
UAE attracted record inflows of inward foreign direct investment in 2023 at about 112.7 billion dirhams, equivalent to $30.7 billion, a growth of 35%, compared to 83.3 billion dirhams, equivalent to $22.7 billion in 2022, which reflects a noticeable increase in its attractiveness. For foreign investors, according to a report by the United Nations Conference
UAE attracts record inflows of foreign investment… $31 billion in 2023 Read More »
Japan’s Nippon Steel and Sumitomo Corp have secured orders from Qatar Energy for high-alloy seamless pipes to be used in a carbon capture storage (CCS) project. This project, led by Qatar Energy in Qatar’s Mesaieed Region, aims to construct a blue ammonia manufacturing plant. Nippon Steel recently shipped the first batch of these high-alloy seamless
On Sunday, Iraqi Prime Minister Muhammad Shiaa Al-Sudani chaired a special meeting on the steel factory rehabilitation project in Basra Governorate, affiliated with the General Iron and Steel Company. During the meeting, Al-Sudani was briefed, according to a statement by his media office, on the progress of work related to the rehabilitation and operation of
Obstacles to the steel factory rehabilitation project in Basra Governorate Read More »
Emirates Steel Arkan, the largest local steel producer and market leader in the UAE, announced that it has signed a memorandum of understanding with China-based Delong Steel, in order to decarbonize its operations. Accordingly, and within the scope of the Memorandum of Understanding, the two companies will cooperate in building and operating a low-carbon raw
JLL Real Estate indicated, in its latest report on the performance of the construction market in the UAE during the first quarter of 2024, that despite the continuation of global challenges such as persistent inflation, high interest rates, and geopolitical tensions, the total value of construction projects that were not completed is expected to reach…
Jordan Steel Company announced rebar prices for June 2024, an increase of between 3 -10 dinars over last month’s prices. The prices for Grade 60 EXW, between 453 and 462 dinars per tonne, excluding sales tax. However, with sales tax, it is between 540 and about 550 dinars per tonne. Grade Price without tax
Jordan Steel announces the prices of rebar for June 2024 Read More »
Saudi Aramco signed several contracts with Group Five Pipe and Integrated Pipes for Industry to supply steel pipes for its projects, with a value of more than 3.1 billion riyals, according to two separate disclosures by the two companies on the Saudi stock market. Aramco is heading to raise up to $12 billion (44.8 billion
Aramco signs contracts to supply pipes for its projects worth 3 billion riyals Read More »