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Saudi Arabia |
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Saudi Arabia |
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Steel News in Saudi Arabia | ||
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Hadeed cleared from anti dumping charges in India
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The Trade Ministry of India cleared Hadeed (Saudi Iron & Steel co) of dumping
charged by the Indian Steel Federation. The ministry’s a.d. department stated
that Hadeed's steel products were not harming local industry, so did not require
any anti-dumping regulations. |
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100.000t steel export from Kuwait to Saudi
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The GCC States, except for Kuwait, have stopped sending their steel products to
Saudi Arabian market due to a decrease in steel prices in the Kingdom by about
SR 200 per ton. However, an agreement has been concluded with Kuwait to provide
about 100,000 tons of steel products during the next four months. A system has
already been devised and put in place for cargo and transport Kuwaiti steel to
the Kingdom's markets. The Kingdom's Ministry of Commerce and Industry has also given its approval for 18 industrial licenses for production of material needed for steel. The licenses have been granted to the Saudi Arabian Iron & Steel Co., Al Ittefaq, Al Rajhi, Al Aziziyah Fourah in Riyadh, in addition to 11 other industries working in transformation stages of steel. This comes as an opportunity for investors in iron and steel industry due to the volume of the market in steel, which amounts to 3.5 million tons annually and valued at SR 30 billion. Mr. Basim Al Mansour, General Manager of Al Fouzan Steel Industries detailed about the proceedings of a meeting of steel industry representative held recently under the chairmanship of Deputy Minister Saleh Al Hosseini. The meeting discussed the ways and means of raising the production capacity of steel factories to solve the problem of shortage of steel in the local market. The factories, excepting Hadeed, are facing difficulties in procuring pre-production material, the prices of which have gone up in the international markets. The local steel factories are at present working at full capacity and providing all their production to the local market after export of steel to foreign markets was stopped. The production of factories that have now been granted licenses by the Ministry of Commerce and Industry will not enter the market the next one or two years. Hadeed is also providing all its production to the local market and it is expected that the shortage in the market will end in about two months. |
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Hadeed to decide soon on Hot Mill and Skinpass Mill expansions.
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Hadeed, (Saudi Iron & Steel Company) started evaluation on modified technical
and commercial bids, which VAI, SMS Demag, and Danieli submitted mid August, for
the expansion of their hot mill and hot skin pass mill. An award might follow in September. For an expansion of capacity at the DRI plant from 800KT/year to 1.600KT/year, bids are due by 6 September. Furthermore, for the new 150 KT pre-paint coil coating line and a 500 KT rebar and wire rod mill bids are due in October. VAI and Danieli are a.o. expected to bid for both contracts. |
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