Saudi Iron and Steel Company (Hadeed) will reduce its long steel prices for October deliveries due to sluggish demand, according to market insiders. The company plans to lower the price of rebar (12-32 mm) by SAR 70 ($19) per ton, bringing the new price to SAR 2,300 ($613) per ton. Similarly, the price of wire …
Saudi Iron and Steel Company – Hadeed – Reduces Rebar Prices for October Delivery Read More »
Jassim Al Abbas, Vice Chairman of the National Iron Industry Committee and General Manager of Sales, Marketing and Business Development at Al Ittifaq Steel Company, said that the expected demand for reinforcing steel and coils during the current year 2024 is about 7.5 million tons. Al Abbas explained in an interview with Argaam on the …
Eastern Pipes Integrated Industry Company announced last Thursday that it signed several contracts with the Saudi Arabian Oil Company – Aramco for the manufacture and supply of steel pipes, worth more than 1.65 billion riyals, including value-added tax. The company said in a statement on Tadawul that the contract period is 19 months, noting that …
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 »
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 »
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 »
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 »
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 »
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 »
The Saudi Iron and Steel Company (Hadeed) announced the prices of rebar for the month of June, as the price of rebar (12-32 mm) reached 2,375 riyals ($633) per ton, an increase of 25 riyals ($7) per ton compared to the previous month. While the prices of wire rod (6.5 – 16 mm) remained unchanged …
Saudi Iron and Steel Company announced an increase in the prices of rebar Read More »
The Saudi Basic Industries Corporation (SABIC) announced that it has obtained all final approvals from the competent authorities, that all conditions have been met, and that ownership of the Saudi Iron and Steel Company (Hadeed) has been completely transferred to the Public Investment Fund. The company said in a statement to Tadawul Saudi Arabia, today, …
Saudi Pipelines announced that it had won a contract to supply steel pipes for oil and gas to Saudi Aramco, with an estimated value of 138.6 million riyals ($37 million). The company said, in a statement to the Saudi Stock Exchange (Tadawul), that the duration of the contract is up to 12 months, and it …
Saudi Pipelines wins a supply contract for Aramco worth $37 million Read More »
The General Authority for Foreign Trade announced the start of an anti-dumping investigation against the Kingdom’s imports of a steel or stainless steel pipe product with longitudinally welded circular sections originating from or exported from the People’s Republic of China and Taiwan. The Authority said in a statement that the decision to begin the investigation …
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 …
Saudi Iron and Steel Company announces rebar prices for May without change Read More »
Al Yamamah Steel Industries Company announced the start of commercial operation of the first phase of the expansion of the Jeddah Pipe Factory during the current month of April. In a statement today on Tadawul, the company expected that the financial impact of the expansion of the Jeddah Pipe Factory would be reflected on the …
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 …
The Arab Iron and Steel Union is scheduled to hold the second meeting of the Union’s Technical Committee on April 21-22, 2024 in Jeddah, Saudi Arabia, at the Shangri-La Hotel – Jeddah. At the invitation of the Saudi Iron and Steel Company – Hadeed. During this meeting, it is scheduled to study the technical data …
Arab Iron and Steel Union holds the second technical committee meeting in Saudi Arabia Read More »
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 …
The profits of the Riyadh Steel Company, which is active in the steel industry and the sale of scrap, rose to 11.1 million riyals by the end of 2023, compared to 5.1 million riyals achieved during the same period in 2022. Summary of financial results (million) Item 2022 2023 Change Revenues 156.10 134.20 (14.0 %) Total income 16.31 …
Riyadh Steel’s profits increased to 11.1 million riyals by the end of 2023 Read More »
The Saudi Iron and Steel Company (Hadeed) decided to keep the prices of rebar and wire stable for April, for the second month in a row. The company will continue to provide rebar (12-32 mm) at a price of 2,350 riyals ($626) per ton and wire rod (6.5 mm to 16 mm) at a price …
Saudi Iron and Steel Company announces the stability of its rebar for April Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Kingdom of Saudi Arabia was recorded in February 2024.
National Committee for the Iron Industry announced that it held its first meeting and elected Mr. Bandar bin Abdullah Al-Salim as Chairman and Mr. Jassim Bin Mohamed Al Abbas as Vice-Chairman for the session (1444-1447).
Rebar prices continued their continuous decline after a wave of increases, the largest in iron prices in the Kingdom during the past three years. The lowest decline in rebar prices during January was 14.5% for 8 mm national rebar, whose price fell from 3212.92 riyals in January 2023 to 2747.05 riyals in January 2024. A …
Saudi Arabia: Rebar prices fell by 14.5% within a year Read More »
The profits of Watani Steel, which works in the production and manufacture of iron blocks and rebar, decreased to 4.2 million riyals by the end of 2023, by 91%, compared to the profits of 49.6 million riyals that the company had achieved last year. The company said that the reason for the decrease in profits …
Watani Steel’s profits decreased to 4.2 million riyals (-91%) by the end of 2023 Read More »
Today, Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing, witnessed the launch ceremony of the Banan project in the Al-Fursan suburb of Riyadh, in the presence of Mohammed bin Saleh Al-Bati, CEO of the National Housing Company, and Hisham Talaat Mustafa. Chairman of the Board of Directors of “Talaat Mustafa Group – …
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 148.1 million tonnes (Mt) in January 2024, a 1.6% decrease compared to January 2023. Crude steel production by region Area Jan 2024 (Mt) % change Jan 24/23 Jan-Jan 2024 (Mt) % change 24/23 Africa 2.0 16.3 2.0 16.3 Asia …
Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.
It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.
Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.
General Secretariat
Tel +21323304221 – +21323304239
Fax +21323304254
Mail: [email protected]
Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: [email protected]
