Egypt’s exports of “iron and steel” and “cement” retreated in the first 6 months of 2020 to record $315 million compared to $483 million during the same period in 2019, a decrease of 34.8%. The monthly report issued by the Export Council for Building Materials, Refractories and Metal Industries indicated that 8 countries (Saudi Arabia, …
Saudi Basic Industries Corp (2010.SE), the world’s fourth-biggest petrochemicals firm, reported a third straight quarterly loss on Thursday and said low oil prices and weak global growth meant the second half would likely be similar to the first. SABIC reported a net loss of 2.2 billion riyals ($586.6 million) in the second quarter on impairments …
SABIC posts third straight quarterly loss, forecasts more of the same in second half Read More »
Iron ore price continued to follow an uptrend on Tuesday, since positive market moods were supported by improved trading activity in the seaborne market. Australian iron ore fines 62% Fe went up by $1.5/t to $116.75/t CFR, following an RMB 17/t ($2.4/t) rise in September contracts on the DCE. Optimistic sentiment spurred seaborne buying activity …
The unaudited consolidated financial results of Ezz Steel showed a 20% year-on-year (YoY) drop in its net losses to EGP 860 million during the first quarter (Q1) of 2020 from EGP 1.08 billion, including minority shareholders’ rights. The company’s net losses after taxes amounted to EGP 1.35 billion in Q1-20, up from EGP 1.27 billion …
Ezz Steel’s loss narrows to EGP 860m in Q1-20 initial results Read More »
UAE begins start up operations at its first nuclear power plant The United Arab Emirates has begun start up operations in the first unit of the Barakah nuclear power plant, Dubai’s ruler said on Twitter on Saturday. “Today we announce the UAE’s success in operating the first peaceful nuclear energy reactor in the Arab world,” …
UAE begins start up operations at its first nuclear power plant Read More »
The U.S. economy suffered its biggest blow since the Great Depression in the second quarter as the COVID-19 pandemic shattered consumer and business spending, and a nascent recovery is under threat from a resurgence in new cases of coronavirus. The bulk of the historic contraction in activity reported by the Commerce Department on Thursday occurred …
According to the state-owned media citing China customs data released on July 25, China imported 2.48 million tonnes of semi-finished steel products in June, mainly billet, and slab added to finished-steel imports. In June, China’s import reached 4.358 million tonnes, exceeding June’s finished steel exports of 3.701 million tonnes; this has made China a net …
China becomes net steel importer first time in 11 years in June Read More »
Oil prices edged lower on Monday as rising coronavirus cases and tensions between the United States and China pushed investors toward safe-haven assets. Brent crude LCOc1 dipped 8 cents, or 0.2%, to $43.26 a barrel by 0403 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 dropped to $41.22 a barrel, down 7 cents, or …
Oil slips as U.S.-China friction, rising virus cases weigh on markets Read More »
Algeria SPA MAGHREB TUBS Capacity 2019 – 1000 tons COMPANY PIPES SPA MAGHREB TUBS 450
Algeria ACIERIES DE L`OUEST Capacity 2019 – 1000 tons COMPANY Long products ACIERIES DE L`OUEST 450
Algeria ACIERIES DE CENTRE Capacity 2019 – 1000 tons COMPANY EAF steel Long products ACIERIES DE CENTRE 800 450
Algeria TOSYALI ALGERIE Capacity 2019 – 1000 tons COMPANY Iron Ore DRI EAF steel Semi-finished products Long products TOSYALI ALGERIE 4000 2500.000 3500 3500 3200
UAE AL Ghurair Iron & Steel Capacity 2019 – 1000 tons COMPANY CRC Galv-Steel AL Ghurair Iron & Steel 400 600
Syria HADID HAMA Capacity 2019 – 1000 tons COMPANY EAF steel Semi-finished products Long products HADID HAMA 300 300 110
SYRIA SYRIA METAL INDUSTREIES-SMI Capacity 2019 – 1000 tons COMPANY EAF steel Semi-finished products Long products SMI 800 800 600
Syria HMISHO STEEL Capacity 2019 – 1000 tons COMPANY Pig Iron BOF-Steel Semi-finished products HMISHO STEEL 300 1000 1000
Saudi Arabia BAZ INTL.INDUSTRY CO. Capacity 2019 – 1000 tons COMPANY CRC BAZ INTL.INDUSTRY CO. 250
Saudi Arabia UNICOIL Capacity 2019 – 1000 tons COMPANY CR flats Galv-Steel Pre-painted UNICOIL 340 250 210
Saudi Arabia RAJHI STEEL Capacity 2019 – 1000 tons COMPANY EAF steel Semi-finished products Long products RAJHI STEEL 1000 850 1850
Platts Steel said that the Egyptian government’s decision to exempt the industries used for flat steel from the development fee of 10% on imports of final steel products that it supports, in particular, Turkish exports of steel plate to Egypt, which witnessed a significant increase this year according to local sources in Turkey. Platts Steel …
Exemptions in Egypt import duty could support Turkish flats exports Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 148.3 million tonnes (Mt) in June 2020, a 7.0% decrease compared to June 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 …
world’s production of crude steel declined 6.0% in H1 2020 Read More »
The value of Saudi Arabia’s oil exports dropped by 65% year-on-year in May, or a fall of nearly $12 billion, official data showed on Thursday. Compared with April, total exports – including non-oil exports of goods such as chemicals and plastics – decreased by 1.6%, or about $160 million, the General Authority for Statistics said. …
Saudi oil exports down by nearly $12 billion in May Read More »
Brazil-based miner Vale has announced its operational results for the second quarter and the first half of the current year, reporting iron ore production of 67.6 million mt in the second quarter, rising by 13.4 percent compared to the previous quarter and up 5.5 percent year on year. In the second quarter, Vale’s manganese ore …
Vale’s iron ore output down 7.1 percent in H1 2020 Read More »
Japan’s iron ore imports decreased considerably in June, as domestic steel mills kept output cuts under pressure from lower demand in the manufacturing sector due to the Covid-19 pandemic. According to preliminary data released by the Ministry of Finance on July 19, Japan imported 6.1 million tonnes of iron ore in June, a decrease of …
The 27 European Union governments have reached a breakthrough agreement over the region’s 750 billion euro pandemic recovery fund, following marathon talks in Brussels. European Council President Charles Michel said he believes this deal will be seen as a “pivotal moment” for Europe. “We did it! Europe is strong. Europe is united,” he said in …
EU leaders reach a breakthrough on the region’s 750 billion euro recovery fund Read More »
The average prices of construction materials in Saudi Arabia recorded varying heights in the first half of 2020, as the rise rates ranged between 0.2% to 4.2%. According to the monitoring unit of the reports in the “Al-Iqtisadiya” newspaper, which was based on official data, “Steel” came the most expensive construction commodity, as its average …
Saudi Arabia : Steel, the highest rise in construction materials prices in H1 2020 Read More »
During the first six months of this year, more than 30,000 tonnes of reinforcing bar was exported through Mostaganem Port to the United States of America, Canada, and the United Kingdom; it was reported, Friday, from the commercial directorate of this port establishment. The same source pointed out that the mentioned export operations fall within …
Algeria: Exporting more than 30,000 tonnes of reinforcing steel in H1 2020 Read More »
Oil prices edged lower on Friday as concerns about the surge in coronavirus cases sapping fuel demand while major crude-producing nations ready increases in output. The United States reported at least 75,000 new COVID-19 cases on Thursday, a daily record. Spain and Australia reported their steepest daily jumps in more than two months, while cases …
