The prices of building materials, cement and steel reinforcement, witnessed today, Saturday 1-5-2021, stability in the local market for all raw materials, according to the prices announced by the Building Materials Division of the General Federation of Chambers of Commerce. Ahmed Al-Zaini, head of the General Division for Building Materials at the Federation of Chambers …
China will adjust tariffs on some steel products to lower import costs as part of efforts to push the industry’s upgrading and transformation. Starting on May 1, China will apply a provisional zero import tax rate on pig iron, crude steel, recycled steel raw materials, and ferrochrome, the Customs Tariff Commission of the State Council …
According to preliminary census data from the US Department of Commerce, US imports of slab totaled 320,243 mt in March 2021, up 17.9 percent from February and up 1,443.4 percent from March 2020 levels. By value, slab imports totaled $198.1 million in March 2021, compared to $143.2 million in February and $8.6 million in March …
Hyundai Steel, a major South Korean steelmaker, reported an increase in its net profit amid higher demand for steel, driven by the global economic recovery from the COVID-19 pandemic along with significant increase in selling price. The producer expects further rebound in steel demand this year. In Q1 2021, Hyundai Steel posted a net profit …
Hyundai Steel posts net profit of $ 198 million on price uptrend Read More »
The Malaysian government has imposed anti-dumping duties on imports of cold rolled stainless steel in coil, sheet or any other form (subject merchandise) originating or exported from Indonesia and Vietnam. In a statement today, the Ministry of International Trade and Industry (MITI) said the anti-dumping duty for Indonesia is 8.8% to 34.82% and Vietnam 7.81% …
Malaysia imposes anti-dumping duties on steel imports from Indonesia, Vietnam Read More »
According to a statement by the Turkish Steel Exporters’ Association (CIB), in the first quarter this year Turkey’s steel exports totaled 5.1 million mt, increasing by 1.9 percent, with a value of $3.8 billion, up by 22.5 percent, both year on year. In the first quarter this year, the main destinations of Turkey’s steel exports …
Turkey’s steel exports value up to $ 3.8 billion in Q1 2021 Read More »
Since fully reopening the door to steel scrap imports on January 1, China’s steel scrap imports soared to 55,389 tonnes over January-March, way above 3,366 tonnes for the first quarter of 2020 and more than doubled from around 27,000 tonnes for whole 2020. The dominant majority was imported in March, which accounted for 45,564 tonnes, …
China imports 55,389 tonnes of steel scrap in Q1 2021 Read More »
Next week, the Algerian-Qatari Steel Company will export more than 17,000 tons of billets to a number of European and Arab countries, according to a company statement on Saturday. According to the same statement, the Algerian-Qatari Steel Company (AQS) intends early next week to export more than 17,000 tons of “billet” as a first batch …
Algerian Qatari Steel Company exports more than 17,000 tons of billet next week Read More »
Brazilian exports of iron ore in Q1 rose 16.6 percent, year-over-year, according to a report this week from the Brazilian Mining Institute (IBRAM). Brazilian iron ore exports in Q1 this year totaled 81.3 million mt, up from 69.8 million mt in the same quarter of 2020. The value of Brazilian iron ore exports in Q1 …
Brazilian iron ore exports rise 16.6 percent in Q1 2021 Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 169.2 million tonnes (Mt) in March 2021, a 15.2% increase compared to March 2020. Global crude steel production was 486.9 Mt in the first three months of 2021, up by 10.0% compared to the same period in 2020. China …
China’s prices for imported iron ore have soared to 10-year highs in response to bullish market sentiment, with Mysteel SEADEX 62% Australian Fines, for example, hitting $187.85/dmt CFR Qingdao on April 20, a new record since March 2011. On April 20 too, the most-traded iron ore contract on the Dalian Commodity Exchange (DCE) for September …
China iron ore price nears $190/dmt – a 10 year high Read More »
The European Union has extended tariffs on imports of iron and steel welded tubes and pipes from Belarus, China and Russia for five years, saying they are sold at unfairly low prices. The European Commission, which oversees trade policy for the 27 EU countries, said in the EU official journal on Monday that the duties …
EU extends steel pipe tariffs for Belarus, China and Russia Read More »
Emirates Steel, the leading integrated steel producer in the Middle East, organised a ‘Virtual Innovation Week’ event for its employees, customers and suppliers during the first week of March 2021 celebrating innovation across the organisation. This is aligned with the UAE’s efforts to become the most innovative and future-ready nation in the world under the …
Egypt’s exports of iron and steel to the Libyan market witnessed a significant increase of 161% in January – February 2021, to $ 3.508 million, compared to $ 1.346 million in the same period in 2020. According to a report by the Building Materials Council, exports of the iron and steel sector recorded a total …
Egypt’s exports of iron and steel increased by 161% to Libya in Jan.- Feb. 2021 Read More »
The Ministry of Trade and Industry in the State of Kuwait announced the prices of building materials, as follows: Domestic Rebar Size Origin Unit Kuwaiti Dinar 8 mm Kuwait Ton 210 10 mm Kuwait Ton 210 12 mm Kuwait Ton 210 14 mm Kuwait Ton 210 16 mm Kuwait Ton 210 Domestic Rebar Size Origin …
Iron ore price resumed the increase on Monday in line with insiders’ forecasts. Strong demand and optimistic expectations for this year have pushed the raw material above $180/t CFR for the first time in almost ten years, despite the new round of production cuts that will start in Tangshan this week. Australian iron ore fines …
According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia increased in March 2021 to 3473.72 riyals, up by 27.7% compared to the price of March 2020, which amounted to 2719.7 riyals, and down by -1.1% compared to February 2021, which amounted to 3512.40 riyals. As for …
Average prices of steel and cement in Saudi Arabia in March 2021 Read More »
The Council of Arab Economic Unity held its twelfth special session, chaired by the Hashemite Kingdom of Jordan, the current chair of the session, and in the presence of Ambassador Muhammad al-Rabi`, the current Secretary-General of the Council of Arab Economic Unity, the permanent representatives of the Council’s member states, representatives of the Ministry of …
The World Steel Association (worldsteel) forecasts that steel demand will grow by 5.8% in 2021 to reach 1,874.0 million tonnes (Mt), after declining by 0.2% in 2020. In 2022 steel demand will see further growth of 2.7% to reach 1,924.6 Mt. The current forecast assumes that the ongoing second or third waves of infections will …
In the January-February period of this year, Turkey’s iron ore imports amounted to 1.67 million metric tons, up 39.3% year on year, while the revenue generated by these imports totaled $227.48 million, increasing by 87.4 % compared to the same period of 2020. In the given period, Turkey’s iron ore imports from Brazil stood at …
Turkey’s iron ore imports up 39.3% in January-February Read More »
In the coming period, China is witnessing a possible merger between “Anshan Iron & Steel Group”, and “Benxi Iron & Steel Group”. This merger will strengthen China’s dominance in the global steel industry. Bloomberg said the potential merger between Anshan Iron & Steel Group and Benxi Iron & Steel Group would likely create one of …
A prospective merger will cement China’s dominance in the global steel industry Read More »
The Ministry of International Trade and Industry (MITI) of Malaysia will initiate a sunset review investigation on imports of cold rolled coil of alloy and non-alloy steel originating or exported from China, Korea and Vietnam. The current anti-dumping duties are slated to expire on 23 May. MITI received a petition for the review on 15 …
Malaysia reviews anti-dumping duties on CRC imports Read More »
The Egyptian Ministry of Planning and Economic Development organized a discussion session entitled “The Challenges of Financing Sustainable Development: Before and After the Spread of the Coronavirus Pandemic,” in cooperation with the League of Arab States, on the sidelines of the activities of the Sixth Global Forum on Financing Development 2021, organized by the United …
China imported a total of 283.4 million tonnes of iron ore over January-March, higher by 21 million tonnes or by 8% compared with the first quarter last year, according to the latest statistics released by the country’s General Administration of Customs on April 13. The on-year growth in imports during the first quarter was partly …
Imports topped 100 million tons for the first time since October, with first-quarter volumes surging 8% from a year earlier, according to customs data released Tuesday. Iron ore futures in China extended an advance as imports surged to a five-month high, signaling robust demand as the country grapples with rising commodity prices. Imports topped 100 …
Iron Ore Gains High as Imports Increase in China Read More »
Top steel producer China Baowu Steel Group said it aims to achieve carbon neutrality by 2050, in response to the country’s climate goals set out last year. Baowu Group is seeking to bring its the group’s carbon emissions to a peak in 2023 before cutting them by 30% by 2035, according to a company statement …
China’s top steelmaker Baowu Group announces a schedule to achieve carbon neutrality Read More »
According to export data from the US Department of Commerce, monthly steel exports in February 2021 increased 0.9 percent from January to total 614,533 mt. A year-on-year comparison shows a 0.2 percent decrease. In terms of value, US steel exports in February totaled $829.2 million, compared to $822.6 million in January and $844.6 million in …
Emirates Steel announced the start of transshipment operations at its facilities within the framework of the new partnership with the “Seven” group, the marine services arm of Abu Dhabi Ports, according to a 10-year agreement between the two parties, which is the latest addition to the group’s projects in the field of transshipment. The agreement …
Activating the partnership of “Emirates Steel” and “Seven” in the field of recharging Read More »
Zenith Steel Group Co. Ltd., one of the largest steel producers in China, has awarded SMS group the order to upgrade the existing wire rod mill at its Changzhou works in China to a combined wire rod mill. With this modernization, Zenith aims to widen its portfolio to include round bars and maximize the rolling …
SMS group’s upgrade enables Zenith to enter the automotive and special steels markets Read More »
The Ministry of Industry and Trade of Egypt decided to impose final anti-dumping duties on imports of rolled sticks scheduled to reinforce concrete of origin or exported from the countries of China, Turkey and Tunisia to protect the national economy from the effects resulting from harmful practices in international trade. The Minister of Industry and …