World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 145.7 million tonnes (Mt) in October 2021, a 10.6% decrease compared to October 2020. China produced 71.6 Mt in October 2021, down 23.3% on October 2020. India produced 9.8 Mt, up 2.4%. Japan produced 8.2 Mt, up 14.3%. Crude …
World crude steel production decreased by -10.6% in October 2021 Read More »
In October this year, Brazilian miner Vale’s iron ore export volume totaled 24.22 million mt, down 8.1% compared to September and decreasing by 8.2% compared to October 2020, according to Brazil’s National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase). In the January-October period of the current year, Vale’s iron ore …
Vale’s iron ore exports and sales rise in January-October Read More »
The Iron and Steel Company for Mines and Quarries announced the arrival of semi-industrial test equipment to concentrate ore to the company’s mines in Bahariya Oasis on November 18. The company said in a statement to the Egyptian Stock Exchange that the equipment has been received and is being installed at its site in the …
Egypt: Iron and Steel Mines announces the arrival of modern industrial equipment Read More »
According to China’s National Bureau of Statistics (NBS), in the January-October period of the current year, China’s iron ore production amounted to 823.111 million mt, increasing by 11.5% year on year, 1.9% slower than the rise recorded in the first nine months this year. In October alone, iron ore production reached 80.127 million mt, down …
SABIC affiliate Hadeed and The Red Sea Development Company (TRSDC) have signed a Memorandum of Understanding (MoU) to initiate discussions on the possibility of steel supplies and solutions for the Red Sea project and to set a framework for knowledge exchange. The MoU, signed at SABIC headquarters in Riyadh on November 14, reflects SABIC’s continued …
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 225 10 mm Kuwait Ton 225 12 mm Kuwait Ton 225 14 mm Kuwait Ton 225 16 mm Kuwait Ton 225 Domestic Rebar Size Origin …
Brent crude futures tumbled 3%, down from the level of $80 a barrel, while US oil futures lost $3 to $77.75 a barrel before closing trading, Wednesday. Oil fell, after a report showed that the United States reduced strategic petroleum reserve stocks by 3.2 million barrels last week. The Energy Information Administration said: The strategic …
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3436.71 riyals in October 2021, down 5% compared to September 2021, which amounted to 3620.08 riyals, and an increase of 18.5% compared to the price of July in October, which amounted to 2900.3 riyals. As for …
Average prices of steel and cement in Saudi Arabia in October 2021 Read More »
According to data released by the statistics bureau on November 15, 2021, China’s daily crude steel output fell by 6.1% from a month earlier to 2.3 million tonnes in October, which is the lowest since December 2017. Data from the National Bureau of Statistics (NBS) showed that the world’s top steel producer made 71.58 million …
China’s Oct daily crude steel output plunges to nearly 4-year low Read More »
According to final census data from the US Department of Commerce, US imports of wire rod totaled 102,866 mt in September 2021, up 36.6 percent from August and up 166.4 percent from September 2020 levels. By value, wire rod imports totaled $94.9 million in September 2021, compared to $70.9 million in August and $25.9 million …
US wire rod imports up 36.6 percent in September Read More »
Japan’s economy contracted much faster than expected in the third quarter as global supply disruptions hit exports and business spending while new COVID-19 cases soured the consumer mood, undermining efforts to stoke a virtuous growth cycle. While many analysts expect the world’s third-largest economy to rebound this quarter as virus curbs ease, worsening global production …
Japan’s economy shrinks more than expected as supply shortages hit Read More »
The Libyan Iron and Steel Company (Lisco) announced that it is exporting 5,800 tons of hot rolled steel coils to Egypt. The shipment consists of two types of coils, the thickness ranges from 1.6mm to 12.0mm, it is reported that this is the first time that 1.6mm has been produced. The company said that the …
Libyan Iron and Steel Company exports 5,800 tons of Hot Rolled Coils to Egypt Read More »
The consolidated financial statements of Ezz Steel, during the first nine months of 2021, showed the shift from losses to profitability on an annual basis. In a statement to the Egyptian Stock Exchange, the company stated that it achieved profits of EGP 3.75 billion in the nine months that ended last September, compared to losses …
Ezz Steel turns to profits, and its sales jump to EGP 49 billion in 9 months Read More »
The Egyptian Ministry of Trade and Industry decided to cancel the safeguard import duties on billet, rebar and aluminum products, which the ministry has imposed since 2019, at 25% on imports of rebar and 15% on imports of billet. Another decision issued last April included imposing safeguard import duties on a variety of aluminum products …
Egypt cancels safeguard import duty on iron billets, steel rebar, aluminium Read More »
Emirates Steel has strengthened its presence in the energy, oil and gas sectors by supplying more than 600,000 tons of heavy and medium sections to the oil and gas sectors in the region and worldwide. During its participation in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2021), the company aims to highlight its …
Emirates Steel supplies 600,000 tons of structural sections Read More »
India’s Tata Steel Limited has reported a consolidated net profit of INR 119.18 billion ($1.6 billion) in the second quarter (July-September) of the fiscal year 2021-22, up 661.3 percent over the corresponding period of the previous year, according to a company statement. The company reported total revenue of INR 602.83 billion ($8.1 billion) during the …
Tata Steel’s net profit up 661% in July-September Read More »
The financial statements of the Misr National Steel Company – Ataqa showed an increase in its profits in the first nine months of 2021 by 244% on an annual basis. The company stated in a statement to the Egyptian Stock Exchange that it achieved profits of 65.74 million pounds in the first nine months of …
Misr National Steel – Ataqa rise to 65.74 million pounds profit in 9 months Read More »
ArcelorMittal SA warned that Chinese steel demand will contract this year due to headwinds facing the real estate sector, in the latest sign of the widening fallout from the China Evergrande Group’s crisis. China dominates global steel markets as the largest producer and consumer, accounting for more than half of total demand. The real estate …
ArcelorMittal : Chinese Steel Demand Will Contract This Year Read More »
The Board of Directors of the Iron and Steel Company for Mines and Quarries approved the approval of the company’s financial statements for the first nine months of 2021. The company said in a statement to the Egyptian Stock Exchange that the financial statements were approved with a net profit after taxes of 8.59 million …
Egypt: 6 million pounds of profits for “Iron and Steel Mines” in 9 months Read More »
In the January-October period this year, China imported 11.843 million mt of finished steel, down 30.3 percent year on year, 1.4 percentage points faster compared to the declining pace recorded in the first nine months of the current year, as announced by the Chinese customs authorities on November 7. In October alone, China imported 1.127 …
China’s steel imports down 30.3 percent in Jan-Oct Read More »
The Brazilian miner and South Korean steelmaker Posco have signed a memorandum of understanding (MoU) to seek opportunities to develop solutions for the steel industry aimed at reducing CO2 emissions. Both companies will work to develop “decarbonizing solutions” for the steel industry. The two companies are in talks to achieve such a goal. They will …
Vale and Posco sign MoU to develop cleaner steel products Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 143,950 mt in September 2021, up 69.7% from August and up 268.3% from September 2020 levels. By value, rebar imports totaled $115.6 million in September 2021, compared to $69.2 million in August and $18.9 million in September 2020. The …
US rebar imports up 69.7% in September, Algeria ranked first Read More »
The Industrial Development Authority at the Ministry of Trade and Industry in Egypt announced the launch of the booklet of requirements and controls to establish 6 projects to produce billets, sponge iron and iron pellets, or expand existing ones at the local level, in preparation for obtaining a production license. Engineer Mohamed Fadel Al-Zalat said …
Egypt’s steel exports rose by 193% to $1.311 billion in January to September 2021, compared to $447 million in the same period last year, according to the export and import control report sent to the Building Materials Export Council. The report of the Export Council for Building Materials revealed that Italy is the most importer …
Egypt jumps steel exports to $1.3 billion in January-September 2021 Read More »
Concluding a ‘sunset review’ of the antidumping (AD) duty on imports of alloy and nonalloy wire rod imports from China, India’s Directorate General for Trade Remedies (DGTR) has recommended continuation of the levy, a government official said on Monday, November 1, quoting from the DGTR’s notification. The official said that recommendation has been forwarded to …
India extends AD duty on wire rod imports from China by 5 years Read More »
Engineer Mohamed Ahmed Morsi, Minister of State for Military Production, announced the success of the ministry’s efforts represented by the Military Factory 100, in cooperation with the Ezz Steel Company, in the manufacture of “armored steel” after a strenuous effort, which opened the way for Egypt to expand in the field of vehicle manufacturing. The …
The US and EU have reached a deal to end a long-standing dispute over steel and aluminum tariffs set by former US President Donald Trump, European Commission President Ursula von der Leyen announced at the G20 Summit in Rome. According to US Commerce Secretary Gina Raimondo, the new agreement will allow “a limited amount of …
US, EU end dispute over steel & aluminum tariffs Read More »
According to preliminary census data from the US Department of Commerce, US monthly steel imports in September 2021 increased 16.7% from August to total 2,938,323 mt. A year-on-year comparison shows a 156.4 percent increase. In terms of value, US steel imports in September totaled $3.49 billion, compared to $3.05 billion in August and $1.05 billion …
The Egyptian Prime Minister issued a decision setting the selling price of natural gas supplied to industrial activities, including an increase in prices for iron and steel factories, cement, fertilizers and petrochemicals from $4.5 per million thermal units to 5.75, an increase of 28%. The resolution stipulates that, the selling price of natural gas supplied …
Iron ore prices plunged amid supply growth and expected demand weakness. Much lower prices supported buying activity in the seaborne market. Australian iron ore fines 62% Fe slumped by $8/t to $111.75/t CFR, posting the largest daily decrease in more than a month, while its futures on the DCE fell by RMB 23.5/t ($3.7/t). Several …
Iron ore prices down $8/t amid new supply increase, output cuts Read More »