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Arab Steel Summit

Arab countries

“SABIC”: Obtaining final approvals to transfer ownership of “Hadeed” to the “Investment Fund”

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, …

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Rebar prices fell in the UAE

Market insiders in the United Arab Emirates reported that rebar prices for Emirates Arkan Steel reached 2,370 dirhams ($645) per ton CFR. This comes after Emirates Steel Company amended its pricing policy, moving from the unified market price to different prices based on individual customer agreements. Regular customers reportedly get additional discounts on orders exceeding …

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Ezz Steel: Establishing a factory to produce steel plates is still in the study stage

Ezz Steel Company said that establishing a factory to produce steel plates is still in the study stage. The company confirmed, in a statement in response to the stock exchange’s inquiries regarding what was published under the title “Ezz Steel obtains a license in preparation for launching a new panel factory,” that construction work has …

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Algeria: Launching works to complete the first mixed unit for the production of iron ore concentrates

The signal to start the construction work of the first mixed unit for the production of iron ore concentrates in the Tomiyat region (north of Bashar) was officially given by the local authorities of Bashar State and officials of the “Tosyali Company.” The project aims to value the iron ore mine in Gara Djebilet (Tindouf). …

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Arab Iron and Steel Union discusses enhancing industrial integration among Arab countries

Today, Sunday, in Algiers, the work of the Board of Directors of the Arab Iron and Steel Union was held, in its 128th regular session, to discuss ways to embody cooperation and integration in the fields of the iron and steel industry in the Arab world. It was done during the session. Which was chaired …

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Conclusion of the work of the 128th Board of Directors and the 58th General Assembly of the Arab Iron and Steel Union in Algeria

The Arab Iron and Steel Union held its Board of Directors meetings No. 128 and General Assembly No. 57 in the city of Algiers, the Republic of Algeria, at the Eurasian Hotel on May 19 and 20, at the kind invitation of the Metal and Steel Industries Complex “Imetal ”, in the presence of representatives …

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Egypt: Iron and steel mine profits rise to more than EGP 113 million within 9 months

The financial indicators of the Iron and Steel Company for Mines and Quarries showed the first 9 months of the current fiscal year. The company’s profits increased by 16%, on an annual basis. The company explained in a statement to the Egyptian Stock Exchange. It recorded profits after taxes amounting to EGP 113.255 million in …

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Algeria: Signing three agreements and contracts for mining and mining projects with Chinese and Turkish companies

In Algiers, three agreements and contracts were signed relating to mining and mining projects in Gara Jbeilat (Tindouf), Thala Hamza Oued Amizour (Bejaia) and Bechar, between national companies and international partners. The signing took place on the sidelines of a ceremony commemorating the 58th anniversary of the nationalization of mines and the 57th anniversary of …

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Emirates Steel Arkan reports AED 2.14 billion revenue in Q1 2024

Emirates Steel Arkan announced its financial results for the Q1 2024, with revenues of AED 2.14 billion and EBITDA of AED 294 million. The Group’s positive performance in the first three months of the year demonstrates its resilience and efficiency amidst challenging market conditions. During the quarter, the Group’s performance was supported by a strong …

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Signing an agreement to implement the Emirati-Omani railway network project

Etihad Rail has concluded a partnership agreement with Oman Rail and Mubadala, to implement the Omani-UAE railway network project. The agreement was signed during the visit of Sultan Haitham bin Tariq, Sultan of Oman, to the UAE, where agreements were signed to award contracts for civil and construction works, award systems and integration contracts for …

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Saudi Arabia: The Foreign Trade Authority announces the start of an anti-dumping investigation against imports of steel or stainless steel pipes

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 …

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The General Iron and Steel Mines approves the estimated budget and reduces the targeted surplus

The Ordinary General Assembly of the Iron and Steel Company for Mines and Quarries approved the company’s estimated budget for the next fiscal year 2024-2025. According to a company disclosure, the general assembly decided to amend the company’s estimated budget to target a surplus of 300 million pounds, provided that the quantity and value of …

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Emirates Steel Arkan keeps rebar prices stable despite market challenges

Emirates Arkan Company announced that it will keep unchanged the prices of rebar for May production (10-40 mm) at 2,744 dirhams ($747) per ton CPT Abu Dhabi and 2,752 dirhams ($749) per ton CPT Dubai, Sharjah and the Northern Emirates. The above prices do not include 5% VAT. The factory’s decision to keep prices unchanged …

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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 128th Board of Directors meeting and the 57th General Assembly in Algeria

The meeting of the 128th regular session of the Board of Directors of the Arab Iron and Steel Union and the 57th regular session are scheduled to be held during the period May 19-20, 2024 in the city of Algiers – Republic of Algeria at the Eurasian Hotel – Algeria at the  invitation of the …

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Al Yamama Steel announces the start of commercial production for the first phase of the expansion of the Jeddah Pipe Factory

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 …

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Egypt: Iron and Steel for Mines and Quarries sells worth 34.24 million pounds in March

The Iron and Steel for Mines and Quarries announced that it achieved total sales in the month of last March amounting to 34.242 million pounds. The company explained, in a statement to the Egyptian Stock Exchange today, that sales of Bahariya Oasis mines during the month of March amounted to 34.232 million pounds. The company …

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Emirates Steel Arkan Recognized as “2024 Steel Sustainability Champion”

Emirates Steel Arkan (ESA), one of the largest publicly traded steel and building materials manufacturers in the region, announces its recognition as a 2024 Steel Sustainability Champion by the World Steel Association (worldsteel). This prestigious accolade, now in its seventh year, celebrates companies showcasing exemplary commitment to sustainable development within the global steel industry. Emirates …

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The Chinese “Xin Feng” is establishing a factory for iron products in Egypt for $300 million

The General Authority for the Suez Canal Economic Zone in Egypt signed a contract granting a usufruct right for a land with an area of 750,000 square metres, to the Chinese company “WU’AN Million dollars. The authority said in an issued statement that the project provides 1,200 job opportunities, aims to export 70% of its …

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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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Memorandum of understanding between Libyan Iron and Steel Company and the Italian company Danieli

The Libyan Iron and Steel Company signed a memorandum of understanding with the Italian company Danieli to launch a project to implement a direct reduction plant. The Libyan company made the statement through its official Facebook account. The factory will produce two million tons of sponge iron and hot-molded iron annually. Sponge or hot-molded iron …

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