Arab Steel Summit

Arab Steel Summit

mohamed

CEO of Emirates Steel commends ADU success at world steel competition

News / By mohamed

The CEO of Emirates Steel Company praises the success of Abu Dhabi University in the International Steel Competition. Engineer Saeed Ghumran Al Remeithi, CEO, Emirates Steel has praised the “outstanding performance” of Abu Dhabi University (ADU) during the recent 15th Steel Challenge championship organised by World Steel Association (worldsteel). Two Mechanical Engineering students from ADU …

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China’s steel exports rise for third consecutive month

News / By mohamed

China’s steel firms registered a third consecutive monthly increase in exports in November, driven by rebounding demand in overseas markets, according to the Ministry of Industry and Information Technology. The country’s steel exports rose 9 percent month on month to stand at 4.4 million tonnes in November and are expected to further increase in December, …

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Egyptian Iron and Steel approves land valuation at EGP 1.23bn to settle debt

News / By mohamed

Egyptian Iron and Steel (Hadisolb) approved valuation reports of its land plots as part of a debt settlement process. These lands have been valued based on debt settlement protocols between Egyptian Iron and Steel, Metallurgical Industries Holding Co, Banque Misr, and Petrotrade, the steel manufacturer said in a bourse disclosure on Sunday. The company’s land …

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Metalloinvest upgrades blast furnace No. 2 at Ural Steel

News / By mohamed

Russia-based leading steel producer Metalloinvest has announced that it has launched the upgraded blast furnace N° 2 at its subsidiary Ural Steel. The investment in the project amounted to RUB 2.5 billion ($33.5 million). The upgraded blast furnace has a capacity of 760,000 tonne of pig iron per year. The blast furnace N° 2 has …

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China to allow steel material imports

News / By mohamed

Starting from January 1, 2021, China will allow the import of recycling iron and steel materials that meet the national standard since they do not constitute solid wast. Strict requirements on import management of recycling iron and steel materials were stipulated, according to a notice jointly issued by the Ministry of Ecology and Environment (MEE), …

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Sinai Manganese company is leading the steel industry for a new technological revolution for the first time in Egypt and the Arab world

News / By mohamed

Dr. Jamal Hendawy, CEO of the Sinai Manganese Company of the Holding Company for Chemical Industries, a company of the Ministry of Public Enterprise Sector, revealed that on the morning of Thursday, December 10, 2020, the operation of the Ferro Manganese Alloy Factory actually began, in order to produce silicon manganese alloys for the first …

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Turkey starts dumping investigation against HRC imports from EU

News / By mohamed

Turkish Trade Ministry informed the EC that it has started a dumping investigation against hot-rolled coil imports from the EU region. “Turkish Trade Ministry accepted our request in this regard and started a dumping investigation at the end of last week on imports of HRC to Turkey from the EU region, as a counter measure …

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Importing a new shipment of coal to El Hadjar Complex in January

News / By mohamed

On January 6, a new shipment of coal, used in the iron and steel industry, is arriving at El Hadjar complex with an estimated amount of 30 thousand tonnes. The import decision came after El Hadjar stopped production at the beginning of December, in addition to the fact that the existing quantity will expire in …

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Russia considers export duties on steel billet, rebar

News / By mohamed

The Russian government is mulling over the introduction of export duties on rebar and billet to combat a sharp rise in domestic long steel prices. Federal Antimonopoly Service of Russia (FAS) suggested the export measures to curb sharp price increases in Russian domestic long steel market, according to a letter from FAS to the Ministry …

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US steel imports decreased by 22.8% in January-November

News / By mohamed

Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 1,370,000 net tons (NT) of steel in November 2020, including 1,181,000 net tons (NT) of finished steel (down 9.2% and 5.5%, respectively, vs. October final data). Through the first eleven months of 2020, total …

US steel imports decreased by 22.8% in January-November Read More »

Vale’s iron ore exports down January-November

News / By mohamed

In November this year, Brazilian miner Vale’s iron ore export volume totaled 23.80 million mt, down 9.7 percent compared to October and increasing by 2.2 percent compared to November 2019, according to Brazil’s National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase). In the January-November period of the current year, Vale’s …

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Pakistani government approves Pakistan Steel Mill’s privatization

News / By mohamed

Pakistan’s Cabinet Committee of Privatisation (CCoP) has approved the privatization of Pakistan Steel Mill Corporation’s (PSMC) core operating assets following the recommendation of the Privatization Committee. The privatization which will create employment and reduce debt is expected to ease the pressure on the country’s economy as some state-owned enterprises could not contribute to the national …

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China’s industrial profits grow robustly, seventh straight rise

News / By mohamed

Profits at China’s industrial firms grew robustly in November for a seventh month of gains, supported by strong industrial production and sales, as manufacturers continue their recovery from the COVID-19 downturn. Profits at Chinese industrial firms rose 15.5% from a year earlier to 729.32 billion yuan ($111.50 billion), easing from October’s three-year high 28.2%, data …

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China’s steel consumption likely to rise in 2021

News / By mohamed

China’s steel consumption is expected to reach 991 million tonnes in 2021, up 1 percent year on year, according to a report from the China Metallurgical Industry Planning and Research Institute. The slight increase in consumption will be buoyed by faster economic recovery, the report said. Demand from the construction and machinery industries will continue …

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Malaysia puts duties on Chinese, Korean, Vietnamese galvalume

News / By mohamed

Malaysia’s Ministry of International Trade and Industry (Miti) has decided to impose anti-dumping duties on imports of aluminium- and zinc-coated non-alloy steel sheet and coil from China, Korea and Vietnam. The move follows an investigation which started in March at the request of NS BlueScope (Malaysia). The duties will be charged for five years from …

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GCC construction struggling through pandemic

News / By mohamed

The Gulf Cooperation Council (GCC) construction industry is as the other industries worldwide that have faced some crisis this year. The economic shocks of Covid-19 and falling oil prices left the demand for building materials such as rebar weak for most of the year. Around 550 projects worth over $ 60 billion are known to …

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Egyptian Iron and Steel Company approves bidding for selling scrap items

News / By mohamed

The Board of Directors of Egyptian Iron and Steel Company decided to launch a public bid through sealed envelopes, for the sale of scrap items. The company clarified in a statement to the Egyptian Stock Exchange, today, Wednesday, that the scrap items are scrap railway tractors, scrap cars and car bodies, scrap equipment (loaders – …

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Vietnam imposes anti-dumping tax on Chinese cold-rolled steel

News / By mohamed

Vietnam has imposed anti-dumping duties on some coil or sheet cold-rolled steel products that originated from China for five years starting Dec. 28, its industry and trade ministry said on Wednesday. The duties, specifically for coils or sheets of a width of less than 1,600 mm and between 0.108 mm-2.55 mm thickness, come after the …

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Fatal Landslide in Brazil Pushes Iron Ore Toward Record

News / By mohamed

Prices of the steel ingredient near all-time high as investors bet on tightening supply at a time of strong demand. Iron-ore prices are teetering near record territory as a landslide at a Brazilian iron-ore mine intensifies concerns about supply and Chinese demand runs hot. The price of iron ore has soared to its highest level …

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World’s production of crude steel rose 6.6% in November

News / By mohamed

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 158.3 million tonnes (Mt) in November 2020, a 6.6% increase compared to November 2019. Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production …

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New Covid-19 strain: Full list of countries that have banned flights, travel

News / By mohamed

Countries around the world have begun banning flights and travellers from Britain as London said the spread of a more-infectious new coronavirus strain was “out of control”. Here are the countries that have announced travel bans so far. Saudi Arabia Saudi Arabia said on Sunday it was halting all flights and suspending entry through its …

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SABIC highlights its post-Covid-19 steel business strategy

News / By mohamed

SABIC highlighted its post-Covid-19 steel business strategy and the challenges in the steel market during its participation at the virtual Middle East Iron and Steel Conference. Addressing the conference, Salah Ahmed Al-Ansari, president of Hadeed, a fully-owned manufacturing affiliate of SABIC, said that the company took extra preventive measures across its facilities to ensure business …

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Morocco’s imports of steel and metal scrap has increased

News / By mohamed

Imports of Moroccan companies operating in the field of exploiting scrap iron and steel and other types of converted metals, which are used in the steel and iron industry, have increased significantly during the last two years. Data issued by the Exchange Office revealed that Moroccan companies imported about 720 thousand tons of scrap iron, …

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German crude steel production up 15% in November

News / By mohamed

Crude steel output in Germany increased by 14.8% year on year in November, marking the second consecutive month of growth, German steel federation WV Stahl said on Friday December 18. In November, German crude steel production totaled 3.38 million tonnes, up from 2.94 million tonnes in the corresponding period of 2019. But this growth was …

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China to implement standard on recycling iron, steel

News / By mohamed

China will implement its national standard on recycling iron and steel materials on Jan. 1 next year, said the China Iron and Steel Industry Association (CISA) Thursday. The standard specifies the definition, classification, technical requirements, inspection methods and acceptance rules for recycling iron and steel materials, said Zhang Longqiang, head of the China Metallurgical Information …

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China’s Jan-Nov steel output grows steadily at 5.5%

News / By mohamed

China’s crude steel output grew steadily up to November, gaining 5.5% on year to 961 million tonnes over January-November, or the same growth as that for the first ten months, according to the latest release from the country’s National Bureau of Statistics (NBS) on December 15. For November alone, the country’s crude steel output came …

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Saudi Arabia : Hadeed Sabic hikes rebar and wire rod prices

News / By mohamed

Being supported by the rapid rise in raw materials tags around the world, Saudi Iron and Steel Company (Hadeed SABIC) increased official offers for January long steel products. The ongoing global upward trend will likely trigger another price revision shortly. Hadeed SABIC announced new prices for January longs sales, increasing them by SAR 200/t ($53/t). …

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Ukraine’s semi-finished steel exports up and steel pipe exports down

News / By mohamed

In the January-November period of the current year, Ukraine’s semi-finished steel exports totaled 6.9 million mt, rising by 5.5 percent year on year. In terms of value, Ukrainian semis exports in the given period fell by 6.6 percent year on year to $2.5 billion. In particular, supplies to Italy and Turkey accounted for 26.1 percent …

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SIDER EL HADJAR and NAFTAL sign a Memorandum of Understanding for the production of seamless tubes

News / By mohamed

A Memorandum of Understanding was signed between SIDER EL HADJAR, belonging to the SIDER Group, a subsidiary of the IMETAL Group, and NAFTAL, at the headquarters of the General Management of NAFTAL, located in Chéraga, Algiers. The Memorandum of Understanding covers the construction of 1,100 km of seamless tubes for the transport of LPG between …

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Turkey’s HRC exports down in January – October, Egypt ranked second

News / By mohamed

In the January-October period of this year, Turkey’s HRC exports amounted to 2.22 million mt, down 15.5 percent, while the value of these exports decreased by 26.1 percent to $1.01 billion, both compared to the same period of 2019,according to the data provided by the Turkish Statistical Institute (TUIK). In the first ten months of …

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