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‘Middle East Steel’ Archives

Monday Market Monitor – Middle East – WEEK 24 – Rebars crash by 10pct last week

Monday Market Monitor – Middle East – WEEK 24 – Rebars crash by 10pct last week

The situation in steel market in Middle East is going from bad to worse as continued absence of buyers from purchasing coupled with declining import offers is leading to severe decline in domestic steel prices. The crash is led by benchmark products rebar and wire rods, which lost almost 10% in one week The Middle East Long Product Price [...]

Middle East invests in Pressed Steel Products

Middle East invests in Pressed Steel Products

A MANUFACTURING company has had 40% of its shares bought by a company in the Middle East and is hoping to export its products in the region. County Durham-based Pressed Steel Products (PSP) in has just completed the deal with Mustafa & Kamal Ashraf Trading Company in Oman, which it said would protect its 50-strong North East workforce as it [...]

Top of the glass

Top of the glass

Most building components are designed to do their job and never be seen. Plumbing, wiring, steel reinforcement and even concrete itself is usually buried beneath layers of plaster, rendering, carpet and tiles, and is only seen again when the building is refitted or torn down. But there’s another major component that most people see every day [...]

Nippon Steel offers USD 900 FOB for SBQ plates for July shipment

Nippon Steel offers USD 900 FOB for SBQ plates for July shipment

TEX reported that Nippon Steel Corporation is contemplating maintaining the offer price of USD 900 per tonne FOB in its export deals of ship plates (heavy plates for shipbuilding) under negotiation with South Korea's shipbuilding companies for shipments from July 2010 onward. Behind NSC's firm bargaining stance lies strong demand for heavy [...]

Arabtec says not told of any Russia work-stop order

Arabtec says not told of any Russia work-stop order

Dubai's Arabtec (ARTC.DU: Quote) said on Thursday it has not been informed about any decision by Russian authorities to stop construction on the 403-metre (1,322-foot) high Okhta Centre in St. Petersburg. The United Arab Emirates' largest builder by market value, referred to an unidentified media report published on June 15 saying Russian [...]

The UAE’s first female steel worker

The UAE’s first female steel worker

MUSAFFAH // Mariam al Hammadi strides along a platform high above the floor of the Emirates Steel plant in Musaffah. With a vat of molten metal bubbling just below her, she explains how steel is formed. “It’s not easy,” she concludes. “You also have to be patient.” In her hard hat, work boots and blue coat, she is clearly marked as [...]

Ezz Steel sees Egypt demand up, Europe weak

Ezz Steel sees Egypt demand up, Europe weak

CAIRO (Reuters) - Egypt's top steel producer Ezz Steel said on Wednesday Egyptian demand for reinforcing steel bars would grow to 7.4 million tonnes in 2010 from 7.2 million last year, fuelled by the need for housing. Marketing Director George Matta also said a slowdown in Europe on the back of the euro zone debt crisis would be countered by [...]

Vale Reducing China Dependence Means Cheaper Borrowing Costs

Vale Reducing China Dependence Means Cheaper Borrowing Costs

June 14 (Bloomberg) -- Vale SA, the world’s largest iron- ore producer, is driving borrowing costs relative to BHP Billiton Ltd. down from a one-month high by reducing its dependence on China. The 5.625 percent bonds due in 2019 sold by Rio de Janeiro- based Vale yield 100 basis points, or 1 percentage point, more than similar-maturity notes [...]

LME STEEL-Billet steadies but further falls expected

LME STEEL-Billet steadies but further falls expected

* Demand in Europe, Middle East remains weak * Consumers hold out for lower prices, mills stand firm * Bids coming in at low prices from North Africa By Maytaal Angel LONDON, June 11 (Reuters) - Steel billet prices in the Black Sea region steadied this week in quiet trade, with traders citing still-weak demand from the Middle East and [...]

GULF STATES AVOID ANTIDUMPING DUTIES ON S.KOREAN STEEL PRODUCTS

GULF STATES AVOID ANTIDUMPING DUTIES ON S.KOREAN STEEL PRODUCTS

A group of six oil-producing gulf states, including Saudi Arabia, has decided not to levy antidumping duties on imports of South Korean steel products, the trade ministry said Friday. Hyundai Steel Co. (KSE:004020) and other South Korean steelmakers export steel products worth US$350 million annually to the Gulf Cooperation Council (GCC), which [...]

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