Wednesday 16 April 2014
 
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iron

Sabic in Mauritania iron ore venture

Saudi Basic Industries Corp (Sabic), a leading petrochemical group, is carrying out new iron ore exploration in northern Mauritania. The feasibility study and exploration at Atomai Mines in Zouerate is part of a joint venture agre

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Mena trade growth to soar 131pc by 2026

The trade across the Middle East and North Africa (Mena) region is expected to grow by 131 per cent to 2026, faster than the global growth over the same period (86 per cent), according to a new report. HSBC in its latest 'Trade Connections

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Vale signs iron pellets deal with Saudi Arabia

Brazilian miner Vale, the world's largest iron ore producer, said it closed a 10-year contract to supply 3.3 million tonnes per year of iron pellets to Saudi Arabia's Saudi Basic Industries Corp. 'It is an important region to u

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World steel output tumbles

Global crude steel production tumbled in the last quarter of 2008, bringing the annual figure down slightly, as steelmakers slashed production sharply due to the global economic slowdown. Analysts expected further weakness in 2009 as deman

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Turkey steel shipment arrives

The first shipment of steel has arrived in Bahrain from Turkey. A total of 16.500 tonnes of steel was received by Abdali Essa Al Nooh and Sons. This is part of deals signed by the kingdom with Turkish companies during His Majesty King Hama

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Al-Ghurair steel plant start-up delayed

The start-up of Al Ghurair Iron and Steel plant in Abu Dhabi has been delayed to May due to construction obstacles, company officials said on Monday. The $85-million cold rolling and galvanising plant, the first-of-its kind in the UAE, was

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Construction boom lifts Saudi scrap iron prices

A construction boom in Saudi Arabia and fellow Gulf Arab countries helped boost the kingdom's scrap iron prices in January, traders have said. Scrap iron hit around $350 a tonne last week after having fetched about $300 in late November, t

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Price of scrap iron increases 8.3pc

Price of scrap iron in Saudi Arabia jumped 8.33 per cent in the beginning of this year to SR1,300 ($346.65) per tonnes. Industry analysts also forecast an increase in rebar demand in the local market by more than 10 percent during the cur

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