Steel industry news - Middle East & Africa.

Steel News - Middle East Region

Latest steel industry headlines

INTERVIEW-Sabic intent on easing reliance on domestic natgas -CEO
Fri, 21 Oct 2016 07:03:00 GMT
Could be with existing, potential partners or on its own * CEO tells Reuters - does not think 2017 sales will decline * Sabic can deploy own funds, use debt market for projects * Will take 60 days to decide restructuring at Hadeed steel (Adds details on 2017 ...

Steel Production Capacity Reaches 31m Tons p.a.
Wed, 19 Oct 2016 15:46:00 GMT
IMIDRO data show Iranian steel mills production capacity for crude steel and steel products reached 23.4 million tons and 34.1 million tons respectively by the end of the previous Iranian year (March 19, 2015).

Middle East steel producers need protection, summit hears
Tue, 18 Oct 2016 23:19:00 GMT
This is because the Chinese government is supporting the steel industry in China, he said. George Matta, marketing director of EZZ Steel-Egypt, echoed Kutaynis call in an interview after his talk on the regional steel industry outlook. Tariffs or ...

Emirates Steel takes part in big industry event
Tue, 18 Oct 2016 08:54:00 GMT
Leading iron and steel companies in the Arab region such as Emirates Steel, Sabic, Rajhi Steel, Ezz Steel and other leading steel companies from Morocco, Algeria, and other Arab countries producing steel, are taking part in the event being held at Conrad ...

JSW Steel to partner consortium of bidders for Italian steel company
Mon, 17 Oct 2016 22:45:00 GMT
JSW Steel will pick up a 15-20 percent stake in the consortium from Turkish steel-maker Erdemir, which backed out just before the bid was placed by the consortium. The worlds largest steel-maker, Luxembourg-based ArcelorMittal, is also leading a ...

Iranian steel targets require rail transport development - IMIDRO
Mon, 17 Oct 2016 00:07:00 GMT
Financial Tribune reported that Irans railroad transportation capacity needs to increase fourfold to 88 million tonnes in about nine years to help fulfill the steelmaking target set in the 20-Year Vision Plan (2005-25).....more

JSW Steel in race for Italian giant
Sun, 16 Oct 2016 11:58:00 GMT
JSW Steel will pick up a 15-20 per cent stake in the consortium from Turkish steel-maker Erdemir, which backed out just before the bid was placed by the consortium, they added. The worlds largest steel-maker, Luxembourg-based ArcelorMittal, is also ...

Race for Australia's S. Kidman narrows to country's richest woman
Sun, 09 Oct 2016 22:51:00 GMT
Kidman bidders Hunan Dakang Pasture Farming Co Ltd (Dakang ... moving a step closer to completing a restructuring to raise $2 billion to help cut debt. Iron ore, steel fall in China after holiday amid property curbs MANILA Iron ore and steel futures ...

Egypts Ezz Steel sees earnings increase 113% in H1
Thu, 30 Sep 2016 11:11:00 BST
Earnings at Egyptian steelmaker Ezz Steel increased by 113% year-on-year in the first half of 2016, according to a financial statement published on Thursday September 29. Egypt's biggest steel producer reported earnings before interest, taxes ...

Ezzsteel reports consolidated H1 2016 results
Thu, 30 Sep 2016 02:21:00 BST
ezzsteel (formerly: Al Ezz Steel Rebars) is the largest independent steel producer in the Middle East and North Africa, and the Egyptian market leader, with a total actual capacity of 5.8 million tonnes of finished steel. In 2015, the Company produced 3.2 ...

FDI falls 53 percent in July-August
Tue, 28 Sep 2016 13:02:00 BST
He termed the inconsistent economic policies as the reason behind the downward trend in the FDI. Referring to the rollback of investment from Tuwairqi Steel Mills, he said investors are assured of gas supply at the time of agreement, but they are denied of ...

Egypt steel producers increase prices by 5% on newly-adopted VAT
Sun, 26 Sep 2016 14:10:00 BST
Ezz Steel, which controls more than half the country's steel market, has rose its prices by 4.6 percent since the beginning of this September to 6278 Egyptian pounds ($707) per tonne, from 6000 pounds. For Beshay Steel Company, prices hiked 3.7 percent to ...

Fri, 24 Sep 2016 20:38:00 BST
Co. RAWABI Specialized Enclosure Ma den through AM Cont SABIC and SASREF thru' KICL Hadeed, SABIC thru' ABB, Jubail Fabrication and supply of Misc Steel Structure Fabrication and supply of Misc Steel Structure for Tasnee, Jubail 150,000 Completed 110,000 ...

Turkish domestic flat steel prices stable as demand picks up Metal ...
Tue, 27 Sep 2016 13:39:05 +0100
Flat steel prices in the Turkish domestic market have remained stable over the past week, while demand was said to be picking up.

Egypts Al Ezz Dekheila reports more losses in Q2 and H1
Tue, 27 Sep 2016 02:12:00 BST
Egypt's Al Ezz Dekheila Steel - Alexandria (IRAX.CA), a unit of Ezz Steel, announced on Tuesday it recorded deeper losses in both the second quarter and the first half of the year. According to standalone business results, second quarter losses widened ...

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