Dr. Alia El Mahdi, Chairman of the Board of Directors of the Egyptian Iron and Steel Industry Association, said that the individual sector is the most important source of steel demand in the market, as it constitutes 60% of consumption, while government demand and the real estate development sector together constitute 40% of the consumption …
Britain’s most energy intensive manufacturers, including producers of steel, glass, ceramics and paper, have warned the government that unless something is done about soaring wholesale gas prices they could be forced to shut down production. Wholesale gas prices have increased 400% this year in Europe, partly due to low stocks and strong demand from Asia, …
Rising gas prices threaten British factories to stop production Read More »
SULB, a major steel producer serving international markets, inaugurated the newly constructed Wharf. The new private port facility, located at Salman Industrial City in Hidd, is set to significantly enhance the company’s supply chain and deliver strong environmental and economic benefits for the Kingdom of Bahrain and its customers. High level dignitaries, SULB’s Board and …
SULB inaugurates $20mn wharf at Salman Industrial City in Hidd Read More »
Turkey’s total export value rose by 30 percent year on year to $20.8 billion in September, while the export value of the steel industry stood at $2.6 billion in the given month, according to Turkish Steel Exporters’ Association (CIB). The Turkish steel industry left the automotive industry behind with its exports and ranked first among …
Turkey’s steel industry becomes its No.1 exporting sector in Sept Read More »
According to export data from the US Department of Commerce, monthly steel exports in August 2021 increased 1.0% from July to total 692,649 mt. A year-on-year comparison shows a 31.1% increase. In terms of value, US steel exports in August totaled $1.12 billion, compared to $1.09 billion in July and $693.5 million in August 2020. …
US crude oil prices rose today, Wednesday, to their highest levels since 2014, amid global concerns about energy supplies on the back of signs of tight crude, natural gas and coal markets US …
Oil prices continue to rise and US crude is at its highest level since 2014 Read More »
DP World Group has completed tests of container storage on raised pallets called “BOXBAY” system at the first full-size facility to be built in Jebel Ali Port in Dubai to prove that the innovative technology works successfully in the real world. More than 80,000 container movements have been completed since the trial operation of the …
Spot energy prices in Japan soared to the highest level since February, as the crisis of intense competition for fuels abroad began to affect the country’s electricity market. According to Bloomberg news agency, electricity generation costs in Japan are rising with the price of natural gas and coal rising to a record level, due to …
Energy prices in Japan at the highest level in 7 years Read More »
Malaysia’s new Prime Minister, Ismail Sabri Yaakob, announced the country’s goal of achieving carbon neutrality as early as 2050 and pledged to stop the construction of new coal-fired power plants. The government will replace coal power plants with gas power plants operating in Peninsular Malaysia to achieve cleaner power generation. Malaysia’s carbon neutrality measures also …
Rebar prices in the Kingdom recorded during the month of September a decrease of 13% after the surge it witnessed. Specialists linked the reasons for the decline to a 24% drop in global crude prices, as the price of a ton of iron ore on global stock exchanges was less than $100. The average prices …
Rebar producers managed to increase exports by 82.4% to 639,874 t year-on-year in August, according to the Turkish Statistical Institute (TUIK). In January – August, Turkey’s exports of rebar increased by 38.2% and approached 5 million t, MENA region remained the key sales destination with a 33% share in the total exports, absorbing 1.6 million …
Turkey’s exports of rebar reach 5 million in January – August Read More »
Today, Friday 1-10-2021, rebar prices in Egypt witnessed stability in the local market, according to the announced prices. Company Egyptian pounds Ezz Steel 14600 Suez Steel 14500 Arabian Steel industries 14400 Beshay Steel 14500 Elgarhy Steel 14450 Attia Steel 14300 El-Marakiby steel 14300 Egyptian Steel 14500 Maadi Steel 14300 Alshry Steel 14300 Misr Steel 14300 …
Being under the pressure of the slow demand, Emirates Steel lowered its October rebar price to AED 2,406/t ($655/t) EXW, down from AED 2,608/t ($710/t) EXW in September. Prices are indicated without 5% VAT. $1 = AED 3.673.
The Bahraini Cabinet approved a draft law amending the value-added tax, and increasing it from the current 5% to 10%, starting from January 2022. The Council referred the draft law amending the value-added tax to Parliament for approval. The Bahrain government said in a statement on Monday that the annual growth of real GDP reached …
Bahrain government approves value-added tax increase to 10% Read More »
In August this year, Japan’s iron and steel product exports amounted to 2.95 million metric tons, down 3.5% month on month and up 14.0% year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-August period this year, Japanese iron and steel product exports amounted to …
Plate turnover devices are part of the equipment in heavy plate finishing lines. Our innovative X-Roll® MultiFlex-Turnover Device is characterized by low-noise operation, surface-friendly handling of the plates and by the expansion of the operating area. The new plate turnover device in X-Roll® MultiFlex design combines proven and new functions to the maximum benefit of …
New Device and low-noise operation in plate turning from SMS group Read More »
Egypt’s exports of iron and steel surged by 197% to $1.097 billion in the first eight months of 2021, compared to $369 million in the corresponding period a year earlier, the Middle East News Agency (MENA) reported. A total of 76 countries received Egypt’s exports of iron and steel during the January-August period, nine of …
Egypt’ iron, steel exports jump to $1.097bn in eight months Read More »
In August, China’s export of steel bar amounted to 460,000 mt, down 9.8 percent month on month, but up 1.2 percent year on year. Wire rod and angles/channels production amounted to 170,000 mt both, down 7.2 percent and 2.0 percent year on year, almost remaining stable and down 19 percent month on month, respectively. In …
China’s rebar export declines by 9.8 percent in August Read More »
The price of Brent crude oil jumped Tuesday above US$80 for the first time in almost three years on expectations for surging demand and concerns about supplies as the world slowly emerges from the pandemic crisis. With the rollout of vaccines and easing of lockdowns this year, bets on demand for the black gold have …
Brent crude price jumps above US$80 a barrel , first time in almost three years Read More »
The Board of Directors of the Iron and Steel Company for Mines and Quarries, affiliated to the Holding Company for Metallurgical Industries, one of the companies of the Ministry of Public Business Sector, approved the approval of the amended financial statements with a net profit after deducting income tax in the amount of 5.54 million …
Egypt: Iron and Steel Mines earn 5.5 million pounds in 6 months Read More »
In August this year, Brazilian miner Vale’s iron ore export volume totaled 28.10 million mt, up 14.8 % compared to July and decreasing by 3.5 % compared to August 2020, according to Brazil’s National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase). In the January-August period of the current year, Vale’s …
Vale’s iron ore exports up 6.1% in January-August 2021 Read More »
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 238 10 mm Kuwait Ton 238 12 mm Kuwait Ton 238 14 mm Kuwait Ton 238 16 mm Kuwait Ton 238 Domestic Rebar Size Origin …
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 156.8 million tonnes (Mt) in August 2021, a 1.4% decrease compared to August 2020. China produced 83.2 Mt in August 2021, down 13.2% on August 2020. India produced 9.9 Mt, up 8.2%. Japan produced 7.9 Mt, up 22.9%. Crude …
World crude steel production decreased by 1.4% in August 2021 Read More »
Oil prices recovered to touch their highest level in 3 years against the backdrop of low supply and a shortage of energy globally, especially natural gas, to meet the increasing demand for it, which makes resorting to Brent crude in power generation highly likely. A barrel of Brent crude for November delivery recorded $77.4, while …
Oil prices reach $77.4, amid fears of low supply Read More »
The Brazilian ministries of foreign relations and economy jointly said this week the Gulf Cooperation Council (GCC) will not impose anti-dumping (AD) duties on steel imports from Brazil. Despite not disclosing specifically which steel products were under investigation, both ministries applauded the decision. “If imposed, the duties would have a negative impact over the Brazilian …
Gulf Cooperation Council declines to impose duties on steel imports from Brazil Read More »
The Libyan Iron and Steel Company announced the resumption of sales of its products after a hiatus of more than two months. The company’s local marketing department announced, in an announcement, the opening of the sale of rebar, according to the terms and prices approved by Resolution No. (140) for the year 2021, as follows: …
Libyan Iron and Steel Company resumes the sale of its rebar products Read More »
India has initiated a sunset review into extending anti-dumping duties on hot-rolled flat products of alloy or non-alloy steel imports originating in China, Japan, South Korea, Russia, Brazil, and Indonesia. Provisional anti-dumping duties were initially imposed in January 2017 and definitive anti-dumping duties in August 2016, valid up to December 2021. The Indian Steel Association …
India eyes 6 countries HRC anti-dumping duty extension Read More »
After a long period of stability in rebar prices in Egypt, which lasted for 6 months (mid-May), the major steel mills raised their prices for the month of October. Surging prices for raw materials, semis and finished products globally were the main reason for the decision. This time, the rise was uneven, between EGP 400- …
Rebar prices rise in Egypt after a 6-month stable Read More »
Despite the temporary break in China’s iron ore and steel market trading activity due to the national holidays, indicative prices for the raw material slumped again amid further tightening of production cuts and mounting troubles in the country’s property sector. Iron ore futures in October contracts on the Singapore Exchange (SGX) fell by $8.43/t to …
Iron ore falls to $93 – its lowest level in 16 months Read More »
According to final census data from the US Department of Commerce, US imports of wire rod totaled 99,004 mt in July 2021, down 10.5 percent from June but up 167.8 percent from July 2020 levels. By value, wire rod imports totaled $85.9 million in July 2021, compared to $87.9 million in June and $26.4 million …
Egypt and Algeria lead Arab countries exporters of wire rod to US in July Read More »