In April this year, China’s rebar and wire rod outputs totaled 23.656 million mt and 14.174 million mt, up 11.8 percent and 8.3 percent year on year, while up 3.04 percent and 2.96 percent month on month, respectively. Local rebar prices in China indicated an overall rising trend in April, increasing by 6.9 percent to …
China’s rebar and wire rod outputs rise gradually in April as prices increased Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 169.5 million tonnes (Mt) in April 2021, a 23.3% increase compared to April 2020. China produced 97.9 Mt in April 2021, up 13.4 % on April 2020. India produced 8.3Mt, up 152.1%. Japan produced 78 Mt, up 18.9%. Top …
World production of crude steel increased by 23.3% in April Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3473.72 riyals in April 2021, a decrease of -2.7% compared to March 2021, which amounted to 3473.2 riyals, and an increase of 24.1% compared to the price of April in 2020, which amounted to 2719.7 riyals. …
Steel and cement prices are stable in Saudi Arabia Read More »
Global trade enjoyed a record rebound in the first quarter of 2021, according to UN estimates, growing 10 per cent year-on-year largely on the back of booming exports from East Asia. …
Global trade rebounds in Q1 of 2021 on Asian exports .. It rose 10% Read More »
On Tuesday, the President of the Kurdistan Regional Government, Masrour Barzani, inaugurated iron and steel production plants, at a total cost of $ 100 million. On the sidelines of the opening ceremony of the huge factory, the Prime Minister expressed his pleasure at the completion of (Med Steel) factory for the production of iron and …
Iraq: The opening of a steel plant with a capacity of 350 thousand mt in Kurdistan Read More »
The European Union and United States are to start talks to address the steel tariffs imposed by President Donald Trump. In a joint statement Monday, U.S. and European trade representatives said they were looking “to find solutions before the end of the year” that will address the overcapacity in the steel sector. This issue has …
U.S. and Europe Seek to End Trump-Era Dispute Over Steel and Aluminum Read More »
According to export data from the US Department of Commerce, US exports of hot rolled bar totaled 43,589 mt in March 2021, up 45.6 percent from February and up 52.3 percent from March 2020 levels. By value, hot rolled bar exports totaled $53.9 million in March, ompared to $35.2 million in the previous month and …
US hot rolled bar exports up 45.6 percent in March Read More »
Brazilian steel mills continued to boost production in April. The sector remains focused on the domestic market, supplying volumes higher than in the pre-pandemic period. In April, Brazilian production of crude steel improved by 59% to 3.1 million t year-on-year, the highest since October 2018, according to the Brazilian Institute of Steel (Instituto Aco Brasil, …
Brazil’s steel output highest since October 2018 Read More »
Iron ore price rebounded on Monday after plunging late last week, since latest official data indicated record steel output in China last month, and subsequently, high demand for the steelmaking ingredient. Australian iron ore fines 62% Fe surged by $8.5/t to $217.5/t CFR, though its futures on the DCE added just RMB 24.5/t ($3.8/t) from …
Iron ore price recovers on record steel production in China Read More »
The rising prices of steel — which is widely used in sectors like construction, auto, consumer goods, etc — will not affect the demand in the domestic market, Tata Steel CEO and Managing Director T V Narendran has said. He also said that the current prices of steel in India are higher if compared with …
Tata Steel CEO :Surging steel prices not to affect domestic demand Read More »
Iron and steel companies in Egypt announced the raising of iron prices for the third time in less than a month, equivalent to 400 pounds per ton, starting from Monday. The General Division for Building Materials at the General Federation of Chambers of Commerce confirmed that the steel factories announced an increase in the price …
Egypt: Rebar prices today are 14,300 – 14,600 pounds per ton Read More »
China will continue to limit new steel capacity in key areas amid efforts to accelerate industrial upgrading and control air pollution, the Ministry of Industry and Information Technology said. Efforts will be made to ensure that the country’s key areas for air pollution control will not see an increase in total steel capacity, the ministry …
China caps new steel capacity in key areas for air pollution control Read More »
Mr. Mahmoud El-Feki, managing director of Delta Steel, confirmed that the company is achieving profits for the first time in 10 years during the current fiscal year, and the net profit is expected to reach 30 million pounds, after the implementation of the first stage of development. Al-Feki added that the profits targeted in the …
Delta Steel achieves 30 million pounds in profits for the first time in 10 years Read More »
China’s robust steel market continues to push iron ore price to new heights. Moreover, the steelmaking ingredient will not come down from the current elevated level in the short term, analysts predict. Iron ore resumed its spectacular surge after just one day of a slight decrease, with the benchmark Australian iron ore fines 62% Fe …
Benxi Iron & Steel (Benxi), China, has issued the Final Acceptance Certificate to SMS group for the successful modernization of their 1,700-millimeter No. 1 hot-strip mill. The objective of this project was to bring the mill’s production capacity and the production range – by adding high-strength steels – up to the requirements of the hot-strip …
In March this year, Turkey’s total hot rolled coil (HRC) exports increased by 272.7 percent to 219,709 metric tons compared to February and were up 51.1 percent year on year, according to the data provided by the Turkish Statistical Institute (TUIK). These exports had a value of $146.39 million, up 279.1 percent month on month, …
Sider El Hadjar Company exported various iron and steel products with a volume of approximately 46,243 tons in the first quarter of 2021. They included finshed, semi-finished and derivative products. These exports represented 92% of the export program for the first quarter of this year. In January, the volume of exported steel products reached 17,493 …
Algeria: Sider El Hadjar exports 46,243 tons of steel products in Q1 2021 Read More »
The Egyptian Iron and Steel (Hadisolb) generated EGP 816.24 million in commercial activity revenues during the first 10 months of fiscal year (FY) 2020/2021. Local sales reached EGP 70 million during March and no exports were reported during the month, the company said in a bourse disclosure on Sunday. During the first half (H1) of …
In April this year, China exported 7.973 million mt of finished steel, up 5.71 percent month on month. The volume is 26.2 percent higher year on year, as announced by the Chinese customs authorities on May 7. China decided to lift the export tax rebates on 146 kinds of steel products as of May 1, …
China’s exports of finished steel products 25.7 million mt in 4 months Read More »
In March this year, Turkey’s billet and bloom import volume decreased by 16.8 percent month on month to 339,166 mt, up by 163.3 percent year on year, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these imports totaled $199.02 million, decreasing by 9.7 percent month on month and up …
Turkey’s billet imports up 117 percent in January-March, including two Arab countries Read More »
Apparent steel consumption in the EU rose by 3.3 percent year on year in the fourth quarter last year, recording the first quarterly growth since the fourth quarter of 2019, and amounting to 35.2 million mt, according to the European Steel Association’s (EUROFER) latest Economic and Market Outlook. The full year of 2020 was considerably …
EUROFER: Apparent steel use in EU to rebound in 2021 amid better demand Read More »
Copper (HG=F) and iron ore prices surged to record highs on Friday as hopes of a global economic recovery creates demand for raw materials. Spot iron ore broke $200 (£143) a tonne for the first time, while copper, which is seen as a bellwether of the health of the global economy, hit more than $10,200 …
Copper and iron ore prices hit record highs amid hopes for global recovery Read More »
A surge in steel consumption as the world emerges from its pandemic-induced slump is set to drive iron ore to an unprecedented high as the biggest miners struggle to keep up with the frenzied pace of demand. Expectations are building that benchmark prices can get to $200 a ton — topping the record $194 hit …
Iron Ore’s Blistering Rally Sets Sights on $200 as Steel Booms Read More »
The Basra Investment Commission – Iraq announced, on Wednesday (May 5, 2021) the inclusion of mega projects in the current year’s plan, the most prominent of which is the implementation of a large iron and steel factory, and the first industrial city to help employ thousands of unemployed. The semi-official Al-Sabah newspaper quoted the head …
China’s steel sector saw output expansion in the first quarter of the year, according to the China Iron and Steel Association (CISA). In the January-March period, crude steel output rose 15.6 percent year on year to 271 million tonnes. The output was up 17.3 percent from the same period in 2019, bringing the average growth …
China’s steel sector records output and consumption growth in Q1 2021 Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 128,343 mt in March 2021, up 65.6 percent from February and up 78.0 percent from March 2020 levels. By value, rebar imports totaled $69.9 million in March 2021, compared to $37.2 million in February and $36.1 million in March …
US rebar imports up 65.6% in March … 27,236 from Algeria Read More »
Germany will spend an additional 5 billion euros ($6 billion) to slash emissions from the steel industry as it intensifies efforts to hit increasingly stringent climate goals. Europe’s biggest economy will spend the money to support steelmakers’ hydrogen production projects and other research programs, Economy Minister Peter Altmaier said Monday following a meeting with representatives …
Germany Ready to Spend $6 Billion to Clean Up Steel Production Read More »
Export prices for Chinese wire rod surged this week as the government has officially announced that export tax rebates for most steel products, including wire rod, will be completely revoked from May 1. This week offers for Chinese low-carbon wire rod (6.5 mm, SAE1008) were in the range of $880-890/t FOB for July shipment, up …
Chinese wire rod export prices shoot up on tax rebate cancellation Read More »
Although the situation in the steel sector remains challenging, as the demand and consumption cannot reach the pre-pandemic level, some signs of recovery are seen in Saudi Arabia. Saudi Iron & Steel Company (Hadeed SABIC), the key local steelmaker, managed to take advantage of strong pricing and improved its financial performance in Q1. Hadeed SABIC …
Hadeed SABIC capitalises on strong pricing, returns to operating profit in Q1 2021 Read More »
In March this year, Japan’s iron and steel product exports amounted to 3.15 million metric tons, up 16.5 percent month on month and decreasing by 9.6 percent year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-March period this year, Japanese iron and steel product …
Japan’s steel exports down 10.5 percent in Jan-Mar 2021 Read More »