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 […]
Oil prices slip as coronavirus cases surge Read More »
China’s steel exports in June reached an eight-year low of 3.7 million tonnes while the country’s steel imports topped 1.9 million tonnes to hit a ten-year high, according to the latest statistics from China’s General Administration of Customs published on July 14. Meanwhile, China’s steel imports in June were 46.8% higher month-on-month and higher by
China’s June steel exports at 8-y low, imports 10-y high Read More »
In the first five months of this year, Turkey saw insufficient global long steel demand amid the pandemic, in addition to more competitiveness offers from other suppliers, have hindered export sales. As Turkey exported only 39,728 tonnes in May, reducing trade by 30.7% month-on-month and 48% year-on-year, according to the Turkish Statistical Institute (TUIK). North
Only North Africa interested in Turkish billet in May Read More »
Concerning the mining sector, the Algerian President, Mr Teboune, renewed his instructions regarding the optimal and transparent exploitation of all mining energies and the national natural resources that Algeria abounds in. Stressing to enter the earliest deadlines in the exploitation of the iron mine in Ghar Djebilet in the province of Tindouf and the zinc
The Egyptian Ministry of Finance exempted imported iron imports from abroad, whether from alloys or non-alloys. As a production requirement for companies and factories production from the fee of the state resource development “issued by Law n° 83” of the year, following the Ministry of Finance request approval from the Tax and Customs Committee of
Finance Ministry exempts imported steel products from 10% development fee Read More »
According to Chinese customs authorities on July 14, China imported 101.682 million tonne of iron ore, up by 35.3% year-on-year, while increasing by 16.8% month-on-month in June this year. In the January-June period of this current year, iron ore imports in China increased by 9.6% year-on-year, reaching 546.907 million tonne, with the year-on-year rise 4.5
China’s iron ore imports up 35.3% in June, highest since Oct 2017 Read More »
Local and federal customs authorities in the UAE will impose a customs duty worth $137 on every tonne of iron and steel plate imports from 19 July 2020 to 14 May 2021. Previously, a decision was made to levy customs duties on the GCC countries’ imports of iron or non-alloy steel plates, subject to the GCC
UAE to impost protective customs on steel imports Read More »
Turkey has nearly used up its entire rebar quota, which has been allocated to it for the July-September period. So far, Turkish exporters have shipped about 91% to 69,939 tonnes to the EU as of July 8. As for the wire rod quota, Turkey exported about 83% to 66,399 tonnes. According to the European Commission
EU rebar import quota for turkey almost used up Read More »
China’s major steel companies saw their profitability improve in May as demand picked up, the latest data showed. Profits surged by 81.8 percent month on month to 14.8 billion yuan (about 2.1 billion U.S. dollars) in May. Sales rose by 6.5 percent from a month earlier to 374 billion yuan, according to data from the
China’s steel mills see profits recover in May Read More »
Dubai has announced a new package worth 1.5 billion dirhams ($408 million) to help the economy cope with the effects of the coronavirus pandemic, the crown prince of the emirate, Hamdan Bin Mohammed Al-Maktoum, said on Twitter on Saturday. The package is the third announced by Dubai, the second-largest and second-wealthiest member of the United
Dubai announces new coronavirus economic support worth over $400 million Read More »
Mr. Tarik Bouslama, CEO of IMETAL Group, has revealed an action plan preparation to all the subsidiaries, to give an impulse to the steel industry in Algeria, by supplying one million housing units, and new workshops included in the program of the Algerian president through El Hadjar and AQS. Mr. Bouslama underlined the willingness of
The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday but warned that the spread of COVID-19 posed a risk to the outlook. The Paris-based IEA raised its forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last month, citing a smaller-than-expected second-quarter decline. “While the
IEA raises 2020 oil demand forecast but warns COVID-19 clouds outlook Read More »
According to the data provided by the Turkish Statistical Institute (TUIK), in May this year Turkey’s wire rod exports decreased by 54.4 percent year on year to 104,439 metric tons, up 84.9 percent compared to the previous month. The revenue from these exports amounted to $45.52 million, up 80 percent month on month and decreasing
Turkey’s wire rod exports down 43.8 percent in January-May Read More »
On July 6, 2020, The Minister of Industry, Mr FERHAT AIT Ali Braham, paid a visit to El Hadjar Complex, accompanied by an important delegation, where he was hosted by the Wali of Annaba, Mr Tarik Bouslama, Chairman and CEO of IMETAL Group and other personalities at Annaba Airport. The Minister was welcomed at the
Visit of the Minister of Industry, FERHAT AIT ALI, to the El Hadjar Complex Read More »
On July 21, the Gulf Cooperation Council Technical Secretariat (TSAIP) will hold a public hearing on imposing import safeguards on flat products, long products, angles, and pipes. It is noted that the investigation was opened in October last year. Steel industry members from the Gulf Cooperation Council countries are invited to participate. As the steel
GCC to hold steel safeguard hearing this month Read More »
On July 6, inventory of iron ore at 33 major Chinese ports amounted to 91.28 million mt, up 0.72 million mt or 0.8 percent compared to June 29, as announced by China’s Xinhua News Agency. In the previous week ending June 29, inventories increased by 1.09 percent, as SteelOrbis reported earlier. In the week ending
Iron ore inventories at Chinese ports continue to rise gradually Read More »
The Libyan Iron and Steel Company was keen to abide by all instructions issued by the Presidential Council and the competent authorities affiliated to the Ministry of Health in the Government of Concord. The company’s management has held many meetings with specialists to develop plans, precautionary and preventive measures to confront the Coronavirus, take appropriate
Report of the Libyan Iron and Steel Company in the light of the Coronavirus pandemic Read More »
In view of the planned installation of the world’s largest continuous ERW tube welding line, Zekelman Industries has decided in favor of SMS group as partner and main supplier. The new 28-inch line featuring a capacity of more than 400,000 tons per year is going to complement the Atlas Tube Division of Zekelman Industries. With
Using the ERW process, Produce tubes up to 28 inches for the first time Read More »
Morocco’s economy is expected to contract by 13.8% in the second quarter under the impact of the coronavirus lockdown, the planning agency said on Sunday. It said the economy was expected to contract by 4.6% in the third quarter as restrictive measures are loosened. The economy grew 0.1% in the first quarter, it said. (Reporting
Morocco’s economy to contract 13.8% in Q2, 4.6% in Q3 Read More »
Egypt Tabbin Institute for Metallurgical Studies Tabbin Institute for Metallurgical Studies was established to provide the metallurgical, metallurgical and engineering industries with their technical cadres capable of fulfilling the responsibilities of managing, operating and continuously updating these industries. The policy of scientific cooperation domestically and internationally with major specialized centers in most of the
Tabbin Institute for Metallurgical Studies Read More »
Egypt El Nasr Steel El Nasr Steel Pipes & Fittings is one of the subsidiaries of the Holding Company for Metallurgical Industries, one of the largest and oldest companies in the production of steel pipes in Africa and the Middle East in 1962. The company occupies a distinguished and prestigious place in the global competition
El Nasr Steel Pipes & Fittings Company Read More »
Egypt Metallurgical Industries Holding MIH operates as a holding company which through its subsidiaries, produces aluminum, steel bars and wires, ferrosilicon alloys, glass, iron products, mining products and steel pipes among other commodities. MIH was established by the Presidential Decree No. 429 of 1983 under the name of the Public Sector Authority for Metallurgical
Metallurgical Industries Holding Read More »
Egypt Delta Steel Delta Steel Mills is one of the oldest steel companies in Egypt. The company was established in 1947 and since then the company has been developing the production units and applying modern management methods and systems. With a production capacity of 250 thousand tons in 2019 and the second phase with a
Egypt Suez Steel Suez Steel Company is one of the largest steel producers in Egypt and with the rapid progress witnessed by the steel production sector, it has adopted a policy of continuous investment in its factories and human resources, in order to ensure its production capacity to increase the demand in the market. Thanks
Suez Steel Company Read More »
Egypt Ezz Rolling Mills Co. Ezz Steel is one of the fastest growing and most technically advanced steel producers in the world. It is the largest independent steel producer in the Middle East and North Africa, exporting high-quality steel products to many countries around the world. It has become established as a leader in
Ezz Rolling Mills Co. Read More »
Egypt Ezz Flat Steel Co. Ezz Steel is one of the fastest growing and most technically advanced steel producers in the world. It is the largest independent steel producer in the Middle East and North Africa, exporting high-quality steel products to many countries around the world. It has become established as a leader in
Ezz Flat Steel Co. Read More »
From 1st July 2020, some adjustments to steel import safeguard quotas will be taking place. Announced the European Commission. All country quotas will be managed quarterly instead of annually to avoid storage at the beginning of each period. The commission has brought together three different regimens to sidestep the crowding out of traditional trade flows.
European Commission Changes EU Steel Import Quotas Read More »
The Minister of Industry and Small and Medium Enterprises Mr. Mohamed Saleh Bin Youssef announced during the working session that he supervised at the headquarters of the Technological Pole for Food Industries in the governorate of Bizerte, appointing Mr. Mounir Makhlouf, the new general manager of the Tunisian Iron Industry Company “ELFOULADH”. It is worth
The board of directors of the Moroccan Steel Company (Maghreb Steel) decided in the meeting held on 11 June 2020 to appoint Mr. Mohamed Yahya Zniber as the acting chairman of the board in accordance with the provisions of Article 66 of Law 17-95. Successor to Mr. Fadel Al-Sakkat, may God have mercy on him,
Mr. Mohamed Yahya Zneiber is new chairman of Maghreb Steel Read More »
Morocco The Arab Organization for Industrial Development,Standardization and Mining is an organization with legal personality and financial and administrative independence created as a result of the integration of the tasks of the Arab Organization for Mineral Resources and the Arab Organization for Standardization and Metrology in the Arab Organization for Industrial Development as the main
Arab Industrial Development,Standardization and Mining Organization Read More »