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Arab Steel Summit

Sabic Steel

Saudi Iron and Steel Company announces rebar prices for May without change

Saudi Iron and Steel Company (Hadeed) has announced that it will maintain current prices for rebar and wire rod for its May output, marking the third consecutive month of price stability. The price of rebar (12-32 mm) will remain at 2,350 riyals ($626) per ton. While wire coils (6.5-16 mm) will continue to be offered …

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Arab Iron and Steel Union holds the second technical committee meeting in the Kingdom of Saudi Arabia

The Arab Iron and Steel Union held the second meeting of the Technical Committee on April 21-22, 2024 in Jeddah, Kingdom of Saudi Arabia, at the Shangri-La Hotel – Jeddah. At the invitation of the Saudi Iron and Steel Company – Hadeed. During this meeting, the technical data collected from Arab steel companies was studied …

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Competition Authority approves the completion of the economic concentration between the two companies, Hadeed and Al Rajhi Steel

The Board of Directors of the General Authority for Competition approved the completion of the economic concentration process between the Saudi Iron and Steel Company – Hadeed and Al Rajhi Steel Industries Company – Al Rajhi Steel. The authority explained in its account on the X platform. The approval was made after the Council reviewed …

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The Saudi Iron and Steel Company announces an increase in rebar prices for February

The Saudi Iron and Steel Company (Hadeed) announced the official prices for selling rebar for February at 2,350 Saudi riyals per ton ($627 per ton), an increase of 25 Saudi riyals per ton ($7 per ton) compared to the level of January. The company resorted to this increase to balance costs. Despite the sufficient local …

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Saudi Arabia: “Hadeed” allocations cost “SABIC” 2.88 billion riyals

The Saudi Basic Industries Corporation (SABIC), one of the largest petrochemical companies in the world, announced on Thursday that it had recorded a decline of about 17 percent in third-quarter revenues and a net loss. SABIC said in a disclosure that it recorded a net loss of 2.88 billion riyals ($768 million) during the three …

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The Saudi Public Investment Fund acquires the two largest steel companies in the Kingdom

According to a statement on its website on Sunday, the Saudi Public Investment Fund announced a deal to launch a giant company for the iron and steel industry through its acquisition of the two largest iron companies in the Kingdom. According to two separate statements from the Public Investment Fund and the Saudi Basic Industries …

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Arab Iron and Steel Union holds the Sixth Economic Committee meeting in the UAE

Arab Iron and Steel Union holds the sixth Economic Committee Meeting work in Dubai,United Arab Emirates, from 7-8 March, at the invitation of the Emirates Steel Arkan. Representatives of the following countries attended the Committee meeting, Algeria – Egypt -Kuwait – the United Arab Emirates – Saudi Arabia – Qatar – Bahrain – Tunisia – …

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Honouring the companies participating in the International Iron and Steel Exhibition

Within the framework of the activities of the 15th Arab Steel Summit organized by the Arab Iron and Steel Union during the period from 7-8 November 2022 in Manama, the Kingdom of Bahrain, the Union honoured the companies participating in the International Iron and Steel Exhibition on the fiftieth anniversary of the establishment of the …

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Sabic Highlights Innovative Steel Solutions as Strategic Partner of 2nd Saudi Iron & Steel Conference

SABIC participated as a strategic partner in the 2nd Saudi International Iron & Steel Conference 2022 in Riyadh from September 12 to 14 under the patronage of Bandar Al-Khorayef, Minister of Industry and Mineral Resources, and Khalid Al-Falih, Minister of Investment. During a workshop on the first day of the conference, the company highlighted its …

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Hadeed Sabic Signs Mou With Red Sea Development Company To Explore Possibility Of Steel Supplies

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 …

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SABIC announces carbon neutrality strategy at “Green Saudi” initiative forum

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 …

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SABIC highlights its post-Covid-19 steel business strategy

SABIC highlighted its post-Covid-19 steel business strategy and the challenges in the steel market during its participation at the virtual Middle East Iron and Steel Conference. Addressing the conference, Salah Ahmed Al-Ansari, president of Hadeed, a fully-owned manufacturing affiliate of SABIC, said that the company took extra preventive measures across its facilities to ensure business …

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Saudi Arabia : Hadeed Sabic hikes rebar and wire rod prices

Being supported by the rapid rise in raw materials tags around the world, Saudi Iron and Steel Company (Hadeed SABIC) increased official offers for January long steel products. The ongoing global upward trend will likely trigger another price revision shortly. Hadeed SABIC announced new prices for January longs sales, increasing them by SAR 200/t ($53/t). …

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SABIC posts third straight quarterly loss, forecasts more of the same in second half

Saudi Basic Industries Corp (2010.SE), the world’s fourth-biggest petrochemicals firm, reported a third straight quarterly loss on Thursday and said low oil prices and weak global growth meant the second half would likely be similar to the first. SABIC reported a net loss of 2.2 billion riyals ($586.6 million) in the second quarter on impairments …

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