The Egyptian Iron and Steel Company called for an extraordinary general assembly next January to approve the reasons for dividing the company into two companies. The company said in a statement to the stock exchange today, Monday, that the extraordinary general meeting scheduled for January 11, 2021, will discuss approval of dividing the company horizontally …
In the January-November period of the current year, Ukrainian mining companies exported 41.8 million mt, up 14.4 percent year on year. In terms of value, Ukraine’s iron ore exports in the first eleven months increased by 16.6 percent year on year to $3.7 billion. China with its sixty percent share of the total value of …
According to export data from the US Department of Commerce, monthly steel exports in October 2020 increased 7.3 percent from September to total 661,828 mt. A year-on-year comparison shows a 2.9 percent decrease. In terms of value, US steel exports in October totaled $826.3 million, compared to $762.1 million in September and $944.7 million in …
“Tosyali Algeria” company in the state of Oran announced that it had exported 8 thousand tonnes of wire rod to Romania and Italy, according to what we received from the company’s contact cell. Today, these two cargoes were transported as part of the third export operation for this type of product and the ninth for …
“Tosyali Algeria” exports 8 thousand tonnes of iron to Romania and Italy Read More »
Saudi Arabia’s’ National Industrial Development Center said the kingdom has 41 existing factories that produce steel at a capacity of 18 million tonnes. The industrial centre is developing a strategic plan targeting the localisation of new products that support supply chains of some industries such as the oil and gas, and shipbuilding industries, according to a …
KSA has 41 steel factories with 18m tonnes capacity Read More »
Arab Iron and Steel Union organized a symposium on maintenance systems at the Egyptian Company for Metal Constructions (METALCO), one of the companies of the Metal Holding Company, a member of the Board of Directors of the Union. A group of engineers of the company’s factories participated in this symposium. The symposium dealt with: – …
Arab Iron and Steel Union organizes a symposium on maintenance systems in Metalco Read More »
A surge in automotive demand is making it attractive for Nippon Steel Corp. to restart facilities it shut earlier this year even as the world’s third-biggest steelmaker cautioned that longer-term domestic demand remains anemic and its plan to cut output by shutting aging mills will remain on track. In the last two weeks, Nippon Steel …
Giant Japanese steel mill signals pandemic recovery taking root Read More »
China’s steel imports registered rapid growth in the first 10 months of the year, while the decline in exports narrowed, according to the Ministry of Industry and Information Technology (MIIT). The country’s steel imports surged 73.9 percent year on year to over 17 million tonnes in the Jan.-Oct. period. The growth was up 1.7 percentage …
China’s steel imports report steep Jan.-Oct. rise Read More »
Libyan Iron and Steel Company announced Thursday that it had signed a business agreement with the Turkish company, “Aromet”, according to which the development work for the oxygen and compressed air plant would be completed, as part of the company’s plans to improve and increase production. The company said in a post on its official …
Libyan Iron and Steel Company signs an agreement with the Turkish company “Aromet” Read More »
Iron ore hit a new multi-year high in china after its futures jumped to a record level. Market bullishness was supported by strong steel demand, which ensures high consumption of the raw material. Australian iron ore fines 62% Fe soared by $4/t to $136/t CFR, the highest mark since 2013, when the commodity was testing …
According to data provided by the Turkish Steel Producers Association (TCUD), the surge in scrap imports from Turkey continued in October. The import volume for the month of October alone amounted to 1.927 million tonnes, up about 12% per month, thanks to Turkey’s Finished steel sales in the Far Eastern markets and from Latin America. …
Turkey’s scrap imports up 12 percent in October from September Read More »
Indian billet export prices have soared in recent deals, going up by $25-30/t week-on-week (w-o-w) in a recent export tender hosted by a state-owned steel mill. The tender was for 30,000 t of billets of 4SP grade for the end-Dec’20 shipment. According to sources, the company managed to achieve a price level of $475-480/t, FoB …
Indian billet export prices climb to two-year high Read More »
The consolidated net losses of Ezz Dekheila Steel – Alexandria increased by 54.49% year-on-year (YoY) to EGP 3.48 billion in the first nine months of 2020, compared to EGP 2.25 billion, including minority shareholders’ rights. Th steel manufacturer’s sales dropped to EGP 22.98 billion in the January-September period from EGP 29.75 billion in the prior-year …
Ezz Dekheila Steel’s loss widens 3.48 billion pounds in 9 months Read More »
The World Trade Organization backed Japan in several claims in a ruling on Monday against South Korea’s 16-year-old anti-dumping duties on Japanese stainless steel bars. The three-person WTO panel recommended in conclusion that South Korea bring its measures into conformity with its obligations under the WTO’s anti-dumping agreement. South Korea imposed duties of 15.39% in …
WTO largely backs Japan over South Korean steel duties Read More »
Egyptian Iron and Steel Company revealed the details of establishing the company from which it was split after the extraordinary general assembly agreed to divide the company and separate the mining activity in an independent company. The company said, in a report to the board of directors sent to the stock exchange today, Monday, that …
Egyptian Iron and Steel reveals the details of the new company for mines and quarries Read More »
A southern Chinese port on Saturday shipped the first batch of made-in-China steel tracks to be used in Indonesia’s Jakarta-Bandung high-speed railway (HSR). China Railway Nanning Group said the track bars were loaded onto a ship in Fangchenggang, Guangxi Zhuang Autonomous Region, after arriving on trains from their maker Panzhihua Iron and Steel in the …
China starts shipping tracks for Indonesia’s high-speed railway Read More »
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) , in October this year Turkey’s foreign trade deficit increased by 34.4 % to $2.37 billion compared to October 2019. In the January-October period of the current year, Turkey’s foreign trade deficit rose by 76.2 % year on year to $40.27 …
Turkey’s steel export value down 19.2 % in January – October Read More »
Morocco’s sole flat steel producer Maghreb Steel managed to post stronger sales figures for Q3 2020 amid a gradual recovery of the market after tough lockdown. The company increased both revenue and sales volumes over the reported period, but this upturn did not fully offset the slump in previous one, resulting in weaker on-year numbers …
Profits at China’s industrial firms grew in October for a sixth consecutive month and at their quickest pace since early 2017, pointing to a steady recovery in the manufacturing sector after it was hard hit by the COVID-19 pandemic. Profits at Chinese industrial firms surged 28.2% year-on-year in October to 642.91 billion yuan ($97.79 billion), …
China’s industrial profits grow at quickest monthly pace since early 2017 Read More »
Ahmed El-Ziny, head of the Building Materials Division at the General Federation of Chambers of Commerce in Egypt, said that the steel companies announced another increase in their prices at a value of 500 pounds per ton, starting today November 27, and this increase is the second in one week, so that the total increase …
An explosion occurred at Posco Gwangyang Steel Plant at around 4:45 pm local time on November 24 th , killing three workers. The fire was caused by a leak of oxygen from a cracked pipe at the blast furnace N°1. However, it took 20 minutes to put out the fire; the company did not confirm …
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 1,502,000 net tons (NT) of steel in October 2020, including 1,244,000 net tons (NT) of finished steel (up 19.6% and 6.6%, respectively, vs. September final data). Through the first ten months of 2020, total …
US steel imports decreased by 22.8% in January-October Read More »
India’s steel exports in October were down 35% month-on-month (m-o-m), on a provisional basis, to 1.02 million tonnes (mn t) compared to 1.58 mn t in September. In fact, provisional October export volumes were in line with predictions made by one trader, at around 1 mn t. Billets, which comprised the larger share in both …
India’s steel exports down by 35% in October m-o-m Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 161.9 million tonnes (Mt) in October 2020, a 7.0% increase compared to October 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 …
The unaudited financial results of the Egyptian Iron and Steel showed net losses of EGP 274.48million during the first quarter (Q1) of fiscal year 2020/2021, down by 25.4% year-on-year (YoY) from EGP 367.8 million. The steel manufacturer’s sales fell to EGP 237.72 million in the July-September period from EGP 280.31 million in the prior-year period, according to a bourse disclosure on Tuesday. The …
Egyptian iron and steel losses declined 25% in the first quarter Read More »
Leaders of the world’s 20 biggest economies vowed on Sunday to spare no effort to supply COVID-19 drugs, tests and vaccines affordably and fairly to “all people”, reflecting worries that the pandemic could deepen global divisions between rich and poor. The pandemic and prospects of an uneven and uncertain economic recovery were at the centre …
G20 leaders pledge fair global distribution of coronavirus vaccine Read More »
Libyan Iron and Steel Company announced the signing of a contract for the maintenance of the gas turbine unit with the Petro Gas Company for Oil Services. Whereas, the gas turbine was constructed for the purpose of generating electricity during an emergency; This is to feed the power plant and the central station for the …
Libyan Iron and Steel Company signs a contract with Petro Gas for Oil Services Read More »
Japanese steel exports decreased to all main destinations last month, except for China, and are set to decline further. In October, total steel export decreased 13% year-on-year to 2.47 million t, according to the provisional data from the Ministry of Finance. Japan’s exports have been demonstrating on-year decline for the sixth consecutive month, as local …
According to export data from the US Department of Commerce, US exports of rebar totaled 20,341 mt in September 2020, down 8.6 % from August but 59.1% more than in September 2019 exports. The total value of rebar exports in September was $12.9 million, compared to $14.4 million in August 2020 and $9.1 million in …