The Ministry of Trade and Industry in Egypt decided to impose final anti-dumping duties on imports of iron alloys (ferrosilicon) from China, India and Russia, for a period of 5 years, starting from the first of April. Imports of iron alloys (ferrosilicon), an iron alloy containing 20% more by weight than silicon, and if it …
Brazil’s iron ore exports globally in March soared by 18.2% from February to around 28.4 million tonnes after the previous two months’ dip, according to the latest statistics from Brazil’s Ministry of Industry, Foreign Trade and Services. The March total was also 34% higher on year. Last month, iron ore prices had retreated overall from …
Brazil’s March iron ore exports recover to 28.4 million Read More »
Tosyali Algeria expects exports of $ 700 million of steel products this year, with a growth of 600% compared to 2020. This came, according to what was stated by a member of the board of directors of Tosyali Algeria, Alp Topsyoglu, to the official Algerian news agency. Topsyoglu explained that these exports represent 6 times …
Tosyali Algeria expects exports of $ 700 million in 2021 Read More »
China will ensure its crude steel output falls in 2021 and launch a nationwide investigation into the implementation of steel capacity cuts since 2016, industry regulators said, as the country aims to meet goals to curb emissions. China, the world’s top steel producer, started a campaign to eliminate outdated and excess capacity in the ferrous …
China pledges to ensure crude steel output falls as aims to cut carbon Read More »
The Brazilian steel industry expects US President Joe Biden to review existing steel quotas imposed on Brazilian exports of finished steel products, a media report by Valor said. The industry’s expectation for relaxed restrictions comes as Biden plans to invest $2.3 trillion in infrastructure projects in the US. Marco Lopes, president at Brazilian steel association, …
Brazilian steel industry expects Biden to review steel quotas Read More »
The Algerian Qatari Steel Company celebrated yesterday that it obtained the ISO 9001 Quality Management System Certificate, and recorded a record number related to the passing of one million working hours without any accident being recorded. The Algerian Qatari Steel Company organized, on Monday morning April 05, 2021, at the headquarters of the General Directorate, …
Indian HRC makers still enjoy minimal competition in main foreign outlets. They surged their export offer prices again late this week, and the rise seems to be accepted soon. After selling several small HRC batches at around $970/t CFR to the EU, Indian suppliers went higher. Europe is the main sales market now and targets …
ArcelorMittal will transition its steelmaking plants in Bremen and Eisenhüttenstadt, Germany to hydrogen in line with $1.5bn plans unveiled last week to integrate the zero emission fuel of the future into the northwest German coastline. Several of North Germany’s largest industrial companies, including ArcelorMittal, have partnered in the Clean Hydrogen Coastline project, which aims to …
ArcelorMittal to transition two German steelmaking plants to green hydrogen Read More »
Malaysia has started anti-dumping (AD) investigation into imports of stranded steel wires for pre-stressing concrete from China, as a response to a petition from the domestic producer. “The Government has evaluated and considered the evidence of dumping, injury and causal link and decided to initiate an AD investigation on imports of the subject merchandise from …
Malaysia initiates Anti-Dumping investigation on steel wires from China Read More »
France’s economy will rebound less than previously expected this year due to the latest four-week nationwide lockdown aimed at halting a surge in coronavirus cases. French Finance Minister Bruno Le Maire cut the country’s 2021 GDP growth forecast to 5% from 6%, following an 8.1% contraction last year. A Bloomberg survey in March showed economists …
France cuts growth forecast as nationwide lockdown starts Read More »
Holding Company for Metallurgical Industries the financial statements of the metallurgical industries companies, affiliated to the holding company, were revealed mineral, for the achievement of exports from many countries of the world, whose values amounted to about 7 billion pounds, during the fiscal year 2019-2020, compared to exports that amounted to about 11 billion pounds …
7 billion pounds exports of the Holding Company for Metallurgical Industries 2019-2020 Read More »
The Arab Iron and Steel Union participated in the 53rd periodic meeting of the specialized Arab unions organized by the Economic Unity Council in cooperation with the Arab Union for Development and Development and it is mentioned that this meeting will discuss a number of important economic and developmental files, and the efforts of each …
In February this year, Japan’s iron and steel product exports amounted to 2.71 million metric tons, up 9.9 % month on month and decreasing by nine percent year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-February period this year, Japanese iron and steel product …
China’s factory activity in March expanded at the slowest pace in almost a year on softer overall domestic demand, but underlying economic conditions remained positive even as input and output inflationary pressures intensified for manufacturers. as the country is hit by the novel coronavirus outbreak, in Hangzhou, …
China’s factory activity growth lowest since April 2020 Read More »
Algeria and China signed a memorandum of understanding to exploit the largest iron mine in the country. The Algerian News Agency reported that a memorandum of understanding was signed between the National Iron and Steel Corporation “Feral” and a consortium of Chinese companies to exploit the iron mine in Gara Djbeilet (Tindouf State), in the …
Algeria and China sign a MOU on the country’s largest iron mine Read More »
The Egyptian Iron and Steel Company has paid 745 million pounds, as part of the settlement of the natural gas debt owed by the company. The company has also taken some steps to improve its financial position, including rationalizing energy consumption. The company announced, in its response to the Central Auditing Organization, regarding the examination …
Engineer Saeed Ghumran Al Remeithi, CEO of Emirates Steel, has been placed amongst the Top CEOs in the Middle East by the internationally acclaimed Forbes Middle East magazine. This prestigious achievement highlights the pioneering position of Emirates Steel as a leading regional manufacturer, and the powerful influence of Al Remeithi as a regional thought leader …
Watani Iron and Steel Company “Watani Steel” achieved net profit growth of 5.7% during 2020 on an annual basis. According to the company’s data, on the Saudi Stock Exchange website “Tadawul”, the net profit amounted to 31.08 million riyals after zakat and tax, compared to 29.39 million riyals in 2019. The company’s revenues decreased 4.5% …
“Watani Steel” raises its profits to 31 million riyals in 2020 Read More »
The main hall in the administrative building of the Libyan Iron and Steel Company hosted the activities of the third workshop on the results of environmental research studies that were held in the vicinity of the company, under the auspices of the Misurata Municipal Council. The workshop started with the first morning session during which …
Weak export and domestic sales, as well as the downturn in the import scrap segment, led to another decrease in prices for rebar and billet in Turkey. Wire rod export prices lost $ 10-15 / t over the week at $ 700-710 / t FOB, mainly for May shipments. According to market sources, around 3,000 …
Turkey’s rebar and billet prices down, demand modest 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 215 10 mm Kuwait Ton 215 12 mm Kuwait Ton 215 14 mm Kuwait Ton 215 16 mm Kuwait Ton 215 Domestic Rebar Size Origin …
Indian steelmakers increased export sales again in February. Export volumes will remain high till the end of this financial year on weaker domestic demand and high global prices. In February, finished steel export from India went up by 15% year-on-year and by 25% month-on-month to 655,000 t, according to the provisional data of the Joint …
State Company for iron and steel, a company of the Ministry of Industry and Minerals, invited the state ministries, especially the Ministry of Oil, to purchase the spiral pipes produced in its pipelines plant with a capacity of (200) thousand tons / year. The general manager of the company, Mr. Abbas Hayal, indicated in a …
State Company for iron and steel calls for the purchase of its products from pipes Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 150.2 million tonnes (Mt) in February 2021, a 4.1% increase compared to February 2020. In Asia, China produced 83.0 Mt of crude steel in February 2021, an increase of 10.9% compared to February 2020. India produced 9.1 Mt of …
World crude steel production rose 4.1% in February 2021 Read More »
Weather disruptions took their toll on Germany’s crude steel production in February as output dropped 10% year on year, according to data published by German steel federation WV Stahl March 22. The drop to 3.1 million mt in February put an end to the continuous production increase following ramp-up efforts by German mills once steel …
German crude steel output drops 10% on year in February Read More »
Malaysia has imposed a 15% export duty on ferrous scrap. The duty takes effect from 25 March 2021. The scrap items which are affected are categorised under HS subheadings 7204.10.00.00, 7204.29.00 00. 7204.30.00 00, 7204.41.00 00 and 7204.49.00 00, according to Malaysia’s Federal Government Gazette published on 19 March 2021. Malaysia’s total exports of these …
Malaysia slaps 15% duty on ferrous scrap exports Read More »
According to a new report issued by the China Iron and Steel Association (CISA), steel prices in the Chinese domestic market shifted from declines to rises in February following the Chinese New Year holiday. However, the rises slowed down in March, even indicating some downward corrections also. There are a number of factors that participants …
Report: Factors affecting steel prices in China from down to up Read More »
According to export data from the US Department of Commerce, US exports of rebar totaled 27,657 mt in January 2021, up 25.9 percent from December and up 125.1 percent from January 2020 levels. By value, rebar exports totaled $18.5 million in January, compared to $14.2 million in the previous month and $8.4 million the same …
A Chinese-funded iron ore project in Sierra Leone on Saturday announced the commencement of its full-scale operation. The New Tonkolili Iron Ore Project, which is invested and operated by Kingho Investment Company Limited (Kingho), a Chinese-owned private company, started operation in September last year. The Chinese company’s Chief Executive Officer Zhao Ting said the project …
Chinese-funded Sierra Leone iron ore project commences full-scale operation Read More »
Following a significant decline in local rebar consumption in January this year, in February demand for rebar in Egypt improved noticeably notably, though remaining much lower compared to the same month of 2020 due to the ongoing Covid-19-related restrictions. In February local rebar consumption in Egypt totaled 471,000 mt, increasing by 52.8% month on month. …
Rebar demand in Egypt up in February , but still low Read More »