Arab Steel Summit

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Global steel production to grow at 32% annual average until 2025 – report

Global iron ore production growth will accelerate in the coming years, bringing an end to the stagnation that has persisted since iron ore prices hit a decade-low average of $55 per tonne in 2015, market analyst Fitch Solutions predicts in its latest industry report. Fitch forecasts global mine output growth to average 2.4% over 2021-2025 […]

Global steel production to grow at 32% annual average until 2025 – report Read More »

Japan’s January crude steel output falls 4% on year

Japan’s crude steel production in January decreased by 3.9% on year to about 7.92 million tonnes, or recording the 11th consecutive month that had posted an on-year decline, according to the latest data from the Japan Iron & Steel Federation (JISF) on February 22. Though it was 5.3% higher on month, suggesting that country’s steel

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Average rebar prices in January in Saudi Arabia

According to the General Authority for Statistics, the average price of rebar in the Kingdom of Saudi Arabia increased in January 2021 to 3558.07 riyals, an increase of 39% compared to the price of January 2020, which amounted to 2550.2 riyals and an increase of 18% compared to the month of December 2020, which amounted

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Expectations of stability in rebar prices in Egypt, despite the rise of scrap

Ahmed Al-Zaini, head of the Building Materials Division at the Cairo Chamber of Commerce, expected that rebar prices in the local market in Egypt will remain stable until the end of this month, despite the recent rise of scrap on global stock exchanges. Al-Zaini attributed his expectations to that the steel market suffers from a

Expectations of stability in rebar prices in Egypt, despite the rise of scrap Read More »

Libyan Iron and Steel Company ramps up output in 2020 despite pandemic

Despite a number of difficulties connected with the spread of COVID-19 and some halts in operations, Libyan Iron and Steel Company (LISCO) managed to increase production in 2020. LISCO ramped up HBI production by 14% year-on-year to 406,000 t in 2020. The growth was not as sharp as during the previous year (69%), but still

Libyan Iron and Steel Company ramps up output in 2020 despite pandemic Read More »

Germany’s crude steel production up 6% in January

German crude steel production rebounded in the first month of the year after the industry had faced COVID-19 consequences in 2020. In January, crude steel output moved up by 6% to almost 3.3 million t y-o-y, according to German Steel Federation (WV Stahl). While BOF steel production increased by 7% to 2.3 million t, EAF

Germany’s crude steel production up 6% in January Read More »

US wire rod imports down 14.1 percent in December

According to final census data from the US Department of Commerce, US imports of wire rod totaled 55,783 mt in December 2020, down 14.1 percent from November but up 45.0 percent from December 2019 levels. By value, wire rod imports totaled $41.7 million in December 2020, compared to $43.5 million in the previous month and

US wire rod imports down 14.1 percent in December Read More »

Oil prices exceeds $ 65 for the first time in 13 months

Brent crude prices increased during today’s trading, exceeding $ 65 for the first time in 13 months (since January 2020). Brent crude futures rose to the nearest maturity, today, by 0.85 percent, to trade at $ 64.9 a barrel. While the prices of West Texas Intermediate crude (WTI) (US) rose to the nearest maturity, by

Oil prices exceeds $ 65 for the first time in 13 months Read More »

Iron ore soars to almost $175/t on on the first working day in China

Iron ore price spiked on the first working day in China after the Spring Festival celebration despite supply increase at ports and in the global market. Speculations on expected demand improvement in spring pushed both raw material and steel futures sharply up, boosting spot prices as well. Australian iron ore fines 62% Fe soared by

Iron ore soars to almost $175/t on on the first working day in China Read More »

China’s daily steel production hits to the lowest level in 9 months

Daily crude steel output among China’s 318 steel mills declined further to the lowest since late April 2020, or down 3% from January 21-31 to 2.77 million tonnes/day, mainly due to the temporary market quietness just days before the Chinese New Year (CNY) holiday over February 11-17. Some of 318 steel producers including 247 blast-furnace

China’s daily steel production hits to the lowest level in 9 months Read More »

El-Fiqi: We raised the Delta steel production 5 times, and will win next year

Mahmoud El-Feki, Chairman of Delta Steel Company, said that the company has completed the implementation of the first phase of energy development to 250 thousand annually, which is 5 times the production before development of 50 thousand tons, to be followed by the second phase to reach 500 thousand tons annually, the volume of production

El-Fiqi: We raised the Delta steel production 5 times, and will win next year Read More »

Increase the capital of Metallurgical Industries Holding to 3.38 billion pounds

The extraordinary general assembly of the Metallurgical Industries Holding approved increasing the issued and paid-up capital of the company from 3.2 billion pounds to 3.383 billion pounds, and amending articles 6 and 7 of the articles of association, according to what was published by the Egyptian newspaper Al-Waqae. The excess shares amounted to 183657 shares

Increase the capital of Metallurgical Industries Holding to 3.38 billion pounds Read More »

Morocco distributes duty-free quota for CRC and coated steel importers

The Ministry of Industry, Trade and Investment and the Digital Economy in Morocco announced its decision on a 36,000 t quota distribution among consumers of downstream flat steel products in 2021. Allocation for CRC is 32,400 t, while for coated steel 3,600 t out of the total figure, same as in 2020, according to the

Morocco distributes duty-free quota for CRC and coated steel importers Read More »

Korea’s steel output dips below 70 mln tons on pandemic

South Korea’s steel production fell below 70 million metric tons for the first time in four years in 2020 as demand from carmakers, shipbuilders and construction firms plunged amid the COVID-19 pandemic, industry data showed Sunday. The country produced a total of 60.71 million metric tons of steel in 2020, ranking sixth in terms of

Korea’s steel output dips below 70 mln tons on pandemic Read More »

Algerian Qatari Steel Company announces that the direct reduction unit enter the exploitation phase

The Algerian-Qatari Steel Company announced that the Direct Reduction Unit has entered the stage of exploitation and this is after the successful completion of the initial and final stages of experiments, in the presence of the President, General Manager of Imetal Complex, Mr. President, General Manager of the Sider Complex, Chairman of the Board of

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Egypt: Continuing to impose export duties on some mining materials for a year

The Official Gazette of Egypt published Decision No. 82 of 2021 regarding the continuation of the export duty imposed on lumps and crushed talc at a rate of 1,200 pounds per ton, talcum “powder” by 500 pounds per ton, and super-fine talc powder (50 microns and less) at a value of 300 pounds per ton,

Egypt: Continuing to impose export duties on some mining materials for a year Read More »

China’s building material sector sees profit growth in 2020

China’s building material sector in China reported steady growth in both output and profits in 2020, official data showed. Building material firms with an annual revenue of more than 20 million yuan (about 3.1 million U.S. dollars) registered combined profits of 487.1 billion yuan last year, up 3.2 percent year on year, data by the

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Ukraine’s semi-finished steel exports up 6.9 % in January

In January this year, Ukraine’s semi-finished steel exports rose by 6.9 percent year on year to 674,900 mt, according to Ukrainian customs data. In terms of value, Ukrainian semis exports in the given period increased by 20.8 percent year on year to $280.6 million. In particular, supplies to Turkey and Italy accounted for 28.5 percent

Ukraine’s semi-finished steel exports up 6.9 % in January Read More »

Rebar price stability in Egypt

The prices of reinforcing steel in Egypt stabilized today, Saturday 2/13-2021, the prices for the delivery of the factory land for Ezz Steel 13,700 pounds / ton EXW, Beshay steel 13,500 pounds / ton EXW , and Elattal13,450 pounds / ton EXW. Egyptian Steel reached 13,550 pounds / ton, El-komy Steel 13,300 pounds / ton

Rebar price stability in Egypt Read More »

SMS Group : Turnkey project successfully mastered

Cutting-edge large-diameter pipe mill for Al Gharbia Pipe Company com-pleted through cooperation between SMS group und Larsen & Toubro. One of the world’s most modern mills for longitudinally welded large-diameter pipes has been installed between Abu Dhabi and Dubai. It operates with state-of-the-art digitaliza¬tion, tracking and automation systems for almost fully automated processes – for

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Algeria: The President and Director General of Imetal complex receives the Ambassador of Ukraine

Within the framework of the strategy of Imetal Iron and Steel Complex, represented in expanding the circle of its relations and developing partnership with foreign institutions active in its field of specialization. Today, Thursday, the President and Director General of the complex, Tariq Bouslama, received the Ambassador of the State of Ukraine in Algeria, Mr.

Algeria: The President and Director General of Imetal complex receives the Ambassador of Ukraine Read More »

Finalization of the development of the Delta Steel Plant by mid 2022

Hisham Tawfiq, Minister of the Public Business Sector, confirmed that the Delta Steel Factory of the Holding Company for Metal Industries is the oldest factory in Egypt and that the opportunity to develop it was existing, so the Ministry took the development plan due to the feasibility of this, explaining that the development of the

Finalization of the development of the Delta Steel Plant by mid 2022 Read More »

Tosyali Algeria exports rebar to the United States again

Once again, Tosyali Algeria exports its products to the United States. The export process started on February 1 with a capacity of 18,000 tons of rebar from Mostaganem port and 9,000 tons of the same product from the port of Oran. To the ports of Houston and the Everglades. Tosyali Algeria is proud of being

Tosyali Algeria exports rebar to the United States again Read More »

Final Acceptance Granted For New Pickling And Galvanizing Line With Unique “Heat-To-Coat” Technology

In December 2020, after a successful commissioning phase that proved the line’s efficiency, Nucor Steel Gallatin granted SMS group the final acceptance certificate (FAC) for the new “heat-to-coat” pickling and galvanizing line in Ghent, Kentucky, U.S.A. The line was fully supplied by SMS group, including engineering, process technology, furnace technology, pickling and galvanizing technology as

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China’s rebar output rises by 5.1% in 2020, wire rod output up 6.4%

In December last year, China’s rebar production totaled 23.58 million mt, up 6.4 percent year on year, 3.6 percentage points faster than the increase recorded in November, according to China’s National Bureau of Statistics (NBS). The month-on-month rise was 1.32 percent in December, following a drop of 2.14 percent in November. Wire rod production in

China’s rebar output rises by 5.1% in 2020, wire rod output up 6.4% Read More »

Euro zone recovery delayed, to gather pace from mid-year – Lagarde Christine

Europe’s recovery from a recession induced by the COVID-19 pandemic has been somewhat delayed but should pick up pace from mid-year, European Central Bank President Christine Lagarde said in comments published by a French newspaper on Sunday. With euro zone nations locking down their economies to slow the spread of the novel coronavirus, the bloc’s

Euro zone recovery delayed, to gather pace from mid-year – Lagarde Christine Read More »

Oil prices exceeds $60 for first time since January 2020

Global oil prices are rising on Feb. 8 morning on optimism around the recovery in demand in the market, and the price of Brent crude rose above $60 per barrel for the first time since Jan. 29, 2020, according to trading data, Report informs, referring to Bloomberg. As of 9:25 (GMT+4), the price of April

Oil prices exceeds $60 for first time since January 2020 Read More »

Hadisolb’s loss narrows to EGP 437m in H1-20/21 initial results

The financial indicators of the Egyptian Iron and Steel (Hadisolb) showed net losses of EGP 437.05 million in the first half (H1) of fiscal year 2020/2021, down by 8.6% year-on-year (YoY) from EGP 478.18 million. The steel manufacturer’s revenues fell to EGP 555.28 million in the July-December period of 2020, compared to EGP 583.25 million

Hadisolb’s loss narrows to EGP 437m in H1-20/21 initial results Read More »

China’s iron ore market still weak in February

China’s iron ore market is likely to see supply and demand both weaken this month, according to Mysteel’s latest monthly report released on February 1, suggesting that iron ore prices may continue to fluctuate but will lack support to move up substantially. Regarding iron ore supply, total shipment volumes arriving at Chinese ports this month

China’s iron ore market still weak in February Read More »

US rebar imports down 33.5% in December

According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 44,464 mt in December 2020, down 33.5 percent from November but up 7.5 percent from December 2019 levels. By value, rebar imports totaled $19.8 million in December 2020, compared to $30.6 million in the previous month and $22.6 million

US rebar imports down 33.5% in December Read More »