Egypt - Ezzsteel: Rebar price increase by US$62 per ton as of September 2010 Last Update 01/09/2010 14:06:46 ArabSteel – Ezzsteel increased the price of rebar as of September 2010 by EGP350 per ton (US$61.4). Thus, the ex-works price of rebar reached EGP3950 per ton (US$693) tax on sales not included as compared to EGP3600 (US$631) for August, rising by 9.7% M-o-M. [..More]Bahrain - Phase I of "SULB" iron & steel complex is underway Last Update 01/09/2010 13:00:05 ArabSteel - The contracting companies that have been awarded contracts to construct the "SULB" project in Bahrain have started with fencing and leveling the land allocated for the project, which is the beginning of Phase I of this project that will take up to 3 years in construction. Phase I is expected to complete in 2011 according to Mr. Khaled Al-Qadieri, Managing Director of "SULB", who explained that embarking on the three plants of the complex have come after reexamining all necessary environmental stipulations, completing all necessary studies in relation, complying with local and international environmental standards and acquiring all necessary approvals from competent authorities. [..More]China - Steel inventory down to 81 million tonnes Last Update 31/08/2010 10:51:45 Chinese demand for steel products grew up by 19.6% in July with the stocks level reaching at 81 million tonnes slightly down from the 90 million tonnes at peak period, according to the data from China Federation of logistics & Purchasing. [..More]Iraq - New one million tpy steel plant to be built Last Update 31/08/2010 09:53:14 ArabSteel - Mass Global Investment Co., a private company, will build a new steel factory in northern Iraq, according to a statement by Ahmad Ismael Saleh, the firm's chairman said, in an interview with Dow Jones Newswires, saying that: "the facility that will be located between the cities of Kirkuk and Suleimaniya in northern Iraq, is designed to produce one million tons of steel and iron a year, with a budget for the project estimated to be $400 million". [..More]Saudi Arabia - Saudi Steel Pipe and South Korea's TSM Tech ink deal to set JV Last Update 30/08/2010 09:41:27 ArabSteel - Welded pipes producer Saudi Steel Pipe Company Al Anabeeb Co., or SSPSSP, Saturday said it has signed a partnership agreement and a memorandum of association with South Korea's TSM Tech Co. to set up a joint venture under the name Titanium and Steel Industries Co. in Dammam city in eastern Saudi Arabia, that's according to information released on the DJ site recently. [..More]
Emirates Steel Increases Output by 45.4% and Sales Volumes by 30% Emirates Steel, the largest single integrated steel producer in the UAE, registered an increase in finished products output by 45.4 per cent during the first half of 2010, compared to the same period in 2009. Product sales increased by 30 per cent during that same period, according to the press release issued by ESI on 27 July, 2010. [..More]Kuwait-Oman train could run by 2017 An ambitious GCC rail network linking Kuwait with Muscat could be up and running by 2017, the project manager said yesterday. Gulf nations are working to link their various rail projects into one network to service both freight and passengers. [..More]Société Nacionale de Sidérurgie «SONASID» Suspends its Expansion Projects and Its profits dropped by 86% after decline of sales and fall of prices National Iron and Steel Company "SONASID", has announced that its net half annual profits dropped by 86.5% as a result of the reduced demand for the construction steel in the Moroccan market along with the sharp drop of the steel prices in the world market and the reflection of this on the Moroccan market. [..More]
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