Steel industry news - Middle East & Africa.

Steel News - Middle East Region

Latest steel industry headlines

Steel Takeover Will Need Lenders Assistance
Thu, 21 Jul 2016 02:00:00 +0100
A multinational steel manufacturing corporation headquartered in Luxembourg ... Arvedi founded by legendary tycoon Giovanni Arvedi, and Turkish outfit Erdemir. In an effort to attract sufficient interest, Ilva have been streamlining their operations ...

Qatar, Saudi stocks fall on earnings misses; forex troubles Egypt
Wed, 20 Jul 2016 13:53:00 +0100
Nine-tenths of traded shares declined yesterday with heavily traded Orascom Telecom dropping 3.6%. Ezz Steel, hit by the country's gas shortage, sank 3.9% after it reported its first-quarter net loss widened from a year earlier. In Dubai, Emaar ...

Ezz Steel reports EGP 137m net loss in Q1 of 2016
Wed, 20 Jul 2016 08:14:00 +0100
Ezz Steel reported an EGP 137m net loss in the first quarter (Q1) of fiscal year (FY) 2016, after tax and minority interests, compared to EGP 136m in Q1 of FY 2015, despite the 119% increase in gross profits from EGP 222m in 2015 to EGP 487.2m in 2016.

Carbon Steel Pipes Receive Tariffs, Including 35% for Turkish Imports ...
Wed, 20 Jul 2016 08:04:19 +0100
Heavy-walled, rectangular carbon steel pipes are used mainly as structural members in construction. The Commerce Department recently affirmed earlier preliminary anti-dumping duties on pipe imports from Turkey, Mexico and the Republic of Korea.

Saudi company may take Pakistan to international court over steel ...
Wed, 20 Jul 2016 07:18:00 +0100
ISLAMABAD: Saudi Arabia-based Al Tuwairqi Holding Company, which had served the government of Pakistan with a notice to pay Rs1 billion in damages because of stalled operations at its steel mill, has threatened to take its case to the international court ...

Egypt's stocks rebound on Wednesday amid Arab purchases
Wed, 13 Jul 2016 15:07:00 +0100
The country's leading steel producer, Ezz Steel, rose 1.26 percent to close at EGP 8.04 per share. Investment bank EFG Hermes finished up 1.61 percent to close at EGP 11.97 per share. Broader index EGX70 inched up 0.5 percent.

Building material prices expected to increase: experts
Mon, 11 Jul 2016 02:42:00 +0100
Steel prices in the markets had stabilised to a large extent, as Ezz Steel stood at EGP 5,450 per tonne, while Egyptian Steel recorded EGP 5,000 per tonne, and El Attal Steel EGP 5,425 per tonne. Real estate expert Ali Azzam said that the increase in the ...

Mideast Stocks-egypt Jumps On Further Devaluation Speculation
Sun, 10 Jul 2016 08:23:00 +0100
Developers Talaat Mostafa Group Holding and Sixth of October Development and Investment Co (SODIC) closed limit up, and Ezz Steel and South Valley Cement rose 7.2 percent and 7.9 percent respectively. Sunday was also the first day when markets across the ...

ArcelorMittal Galati supplies steel for Turkish mega-bridge - Automotive ...
Mon, 04 Jul 2016 14:13:01 +0100
ArcelorMittal Galati has supplied 34,000 tonnes of steel for one of the longest bridges in the world. The Osman Gazi Bridge in Turkey opened to traffic last week, cutting travel time between Istanbul and Izmir from nine to 3.5 hours. ArcelorMittal ...

Egypt's stocks inch up in calm trade on Sunday
Sun, 03 Jul 2016 10:25:00 +0100
Steel manufacturer, Ezz Steel, which was the most traded for the day, rose 2.09 percent to EGP 7.37 a share. Real estate developer Talaat Moustafa Group (TMG) increased 1.64 percent to register EGP 4.96 per share. The investment bank EFG Hermes also ...

ArcelorMittal in bid for Italian steel maker - Trade Arabia
Sat, 02 Jul 2016 16:48:16 +0100
World number-one steelmaker ArcelorMittal confirmed that it has submitted a bid to acquire Italian integrated steel company Ilva in partnership with Marcegaglia, the country's major re-roller. The company specified that it intends to run at least three ...

Erdemir takes step back from ILVA bid ANSA Report
Fri, 24 Jun 2016 03:25:00 +0100
ANSA reported that Turkish steel producer Erdemir said Thursday it is taking a step back in its bid on Italy's troubled ILVA steelworks. Managing Director Ali Pandir told BloombergHT there's not enough solid information to make a bid at the moment,.....more

Arvedi to move ahead on ILVA bid even without Erdemir = President
Thu, 23 Jun 2016 02:15:00 +0100
ANSA reported that Arvedi Group President Giovanni Arvedi on Wednesday told the Senate industry committee that his company plans to move ahead on a bid to take over the steelworks of the troubled ILVA Group even if Turkish partner in the deal Erdemir.....more

Rio Tinto iron-ore mine still offline after fatality
Tue, 21 Jun 2016 10:03:00 +0100
Operations remain suspended at the Channar iron-ore mine in Australia following a fatality late on Sunday, with the slack in production being picked up by other mines, majority owner Rio Tinto said on Tuesday.The fatality involved a 32-year-old man who was working on a drill rig at the time, a spokeswoman for the Western Australia Department of Mines and Petroleum has said.

EU referendum: UK Steel says industry crisis would worsen if Britain ...
Thu, 16 Jun 2016 11:32:10 +0100
City A.M. - A leading industry body has warned that a Brexit would exacerbate the crisis engulfing British steel, in a stark warning issued ahead of next week's referendum. Gareth Stace, director of Steel UK, said Britain is better able to prevent Chinese steel ...

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