According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3669.99 riyals in August 2021, down 0.9% compared to July 2021, which amounted to 3705.29 riyals, and an increase of 24.5% compared to the price of July in 2020, which amounted to 2946.9 riyals. As for the …
Average prices of steel and cement in Saudi Arabia in August 2021 Read More »
Oil prices rose over $2 a barrel on Wednesday after government data showed a larger-than-expected drawdown in U.S. crude inventories, and on expectations demand will rise as vaccination roll-outs widen. U.S. crude oil stockpiles fell last week to the lowest since September 2019, the U.S. Energy Information Administration said, extending their drawdown after Hurricane Ida …
The National Bureau of Statistics said crude steel production at 83.24 million tons in August was down 4.3% from July and down 13.2% from a year earlier. Average daily production decreased by 4% to 2.69 million tons/day from 2.8 million tons/day in July and by 14.1% from 3.13 million tons/day in June. January-August crude steel …
China’s August crude steel output slumps with curbs Read More »
The Delta Steel Company announced the renewal of the international ISO certificate for the third year in a row. The Delta Steel Company is one of the oldest steel companies in Egypt, and the establishment of the company dates back to 1947. The company has taken the development of production units and the application of …
China’s iron ore producers aim to increase domestic iron ore concentrate output by more than 100 million tonnes between 2021 and 2025, an official with the country’s steel industry association said. Luo Tiejun, the vice-chairman of the China Iron and Steel Association (CISA) said, “It is hoped that the majority of big iron ore enterprises …
China aims for iron ore output boost of 100 million tonnes by 2025 Read More »
Australian coking coal rose again to $355 per ton, rising to at least 7-year high on limited supply. A deal for 75,000 t of premium mid-volatile hard coking coal from Australia was reported at $355/t FOB for November laycan on the globalCOAL platform, according to insiders. The prices have jumped from $300/t FOB registered last …
Coking coal price rises to $355, highest level in 7 years Read More »
Emirates Steel announced a reduction in the prices of rebar for September delivery in support of the construction sector and to ensure its sustainability. This came during the company’s participation in the “Big Five” exhibition, which was launched at the Dubai World Trade Center and will continue until September 15. Emirates Steel invited customers, developers …
Emirates Steel reduces rebar prices for September delivery Read More »
The American Iron and Steel Institute (AISI) reported today that for the month of July 2021, US steel mills shipped 8,278,863 net tons, a 37.2 percent increase from the 6,035,596 net tons shipped in July 2020. Shipments were up 3.1 percent from the 8,031,516 net tons shipped in the previous month, June 2021. Shipments year-to-date …
The value of these imports totaled $167.49 million, increasing by 52.7 percent month on month and up by 164.6 percent year on year. In the January-July period of this year, Turkey’s billet import volume amounted to 2 million mt, increasing by 101.4 percent, while the value of these imports increased by 202.8 percent to $1.26 …
Algeria leads the Arab countries exporting billets to Turkey in January-July Read More »
The proposal, which U.S. officials were weighing last week, involves a tariff-rate-quota system, according to a person familiar with the situation who asked not to be identified because the discussions are private. Intensive talks are ongoing, according to European officials who declined to be identified. Tariff-rate quotas allow countries to export specified quantities of a …
U.S. Moves Toward Ending Steel-Tariff Fight With Offer to EU Read More »
The Ministry of Industry and Advanced Technology (MoIAT) signed three separate memoranda of understanding (MoU) with Etisalat, Emirates Steel and TAQA, the Abu Dhabi National Energy Company, as the first three large national companies joining, to mark their commitment to the National In-Country Value (ICV) Programme. By joining the National ICV programme, which was officially …
Etisalat, Emirates Steel, TAQA first joiners of National ICV Programme Read More »
India’s JSW Limited achieved 1.377 million metric tons of crude steel production in August this year, an increase of 5% over the same month in the previous year. In August of this year, the company produced 899,000 metric tons of rolled products, down by 8% from the corresponding month of last year. “The production of …
India’s JSW sees five percent increase in crude steel output in August Read More »
Export price for Australian coking coal has hit $300/t FOB for the first time in almost 5 years amid the continuous supply shortage from the country. A deal for 75,000 t of premium low-volatile Saraji brand hard coking coal was closed at $300/t FOB for November laycan on the globalCOAL platform, according to insiders. It …
Egyptian experts considered that expanding the scope of Egypt’s energy exports, especially natural gas and electricity, would give Cairo great weight in the region, and enhance its regional and international standing. Egypt, Jordan, Syria, and Lebanon agreed during a meeting on Wednesday to deliver Egyptian gas to Lebanon via Jordan and Syria and to present …
The Gulf Cooperation Council (GCC) has decided against imposing safeguard measures on imports of certain steel products, South Korea’s trade ministry said, a move expected to ease concerns for South Korean exporters. The ministry said the ministerial committee of the GCC — an economic union of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United …
Gulf states decide not to impose safeguard measures on steel imports Read More »
In August this year, China exported 5.053 million mt of finished steel, down 10.9 percent month on month due to the cancellation of the export tax rebate on CRC and HDG exports as of August 1 and ongoing fears over the possible introduction of export duty on flat steel products, which, however, has not happened …
China’s steel exports keep falling month on month in August Read More »
Baoshan Iron & Steel Co Ltd (Baosteel), China’s biggest listed steelmaker, said on Wednesday it had signed an initial pact with the world’s top crude oil producer Saudi Aramco to study building a steel plate factory in Saudi Arabia. The nonbinding memorandum of understanding was one of a number of agreements state-controlled Aramco inked on …
China’s Baosteel, Aramco ink pact on Saudi steel plate factory Read More »
In July this year, Turkey’s rebar exports amounted to 576,536 t, down by 13.5 per cent compared to June, and increased by 39.2 per cent year on year. The revenue generated by these exports totalled $390 million, decreased by 8.2 per cent compared to June, and up by 128.7 per cent year on year , …
Turkey’s rebar exports $2.49 billion in January to July Read More »
Iron ore resumed its dramatic plunge, falling by 7% on daily basis. Market pessimism grew amid steel output reduction and anticipated supply increase in China. Australian iron ore fines 62% Fe slumped by $10.25/t to $132/t CFR after its futures on the DCE nosedived by $9.8/t from Friday level, to RMB 723/t ($112/t), its lowest …
Iron ore falls by $10/t on unstable market condition Read More »
As a continuation of latest announced initiatives and projects, which contribute to the reduction of climate change effects, the Public Investment Fund (PIF) in collaboration with the Saudi Tadawul Group today announced an intent to establish Riyadh Voluntary Exchange Platform for offsets and carbon credits within the Middle East and North Africa Region. This initiative …
Chinese iron ore futures plunged more than 8% on Wednesday, pulled down by sluggish spot market while restrictions on steel output across the country dashed prospects of restocking demand. “The September delivery (of iron ore) remains wide contango,” analysts with SinoSteel Futures wrote in a report, noting that price for the deliverable product Super Special …
Iron ore futures plunge over 8% on lacklustre demand outlook Read More »
The Libyan Iron and Steel Company announced on Tuesday the resumption of the operations of the company’s production units after a two-month hiatus based on the decision of the National Unity Government. The company said on its Facebook page: The double line specialized in the production of skewers is the first factory that has resumed …
Libyan Iron and Steel Company resumes operating production units after a two-month Read More »
According to the provisional foreign trade, statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretaries of Customs, Turkey’s iron and steel imports value increased by 95.2% year on year, totalling $2.60 billion. Iron and steel ranked second among the most imported products of the country in terms of value in July this …
Turkey’s steel import value up 85.6% in January-July Read More »
In our constant efforts and commitment towards maintaining the balance of pricing within the local steel market and to support the country’s construction sector, Emirates Steel has reduced its Rebar (8-32 mm) prices for the upcoming month of September to AED 2,610/per ton, approximately $710, compared to the AED 2,956/per ton sold, close to $805 …
Emirates Steel reduces rebar prices for the month of September Read More »
The board of directors of Iron and Steel for Mines and Quarries approved the output and sales report for July. The company’s sales amounted to EGP 7.91 million during July, according to a bourse disclosure on Tuesday. Iron and Steel for Mines and Quarries is a spin-off company of the Egyptian Iron and Steel (Hadisolb). …
Egypt : Iron and Steel for Mines achieves EGP 7.9m sales in July Read More »
Emirates Steel, the leading integrated steel plant in the Middle East, awarded a ‘General Designer’ contract to Tata Consulting Engineers LTD, Abu Dhabi, for its new fully automated first-of-its-kind Hot Rolled Coils (HRC) plant in the MENA region. The agreement aims to conduct a comprehensive evaluation and study for all phases of the project. The …
In July this year, Japan’s iron and steel product exports amounted to 3.06 million metric tons, down 1.0 % month on month and up 22.8 % year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-July period this year, Japanese iron and steel product exports …
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 244 10 mm Kuwait Ton 244 12 mm Kuwait Ton 244 14 mm Kuwait Ton 244 16 mm Kuwait Ton 244 Domestic Rebar Size Origin …
According to export data from the US Department of Commerce, US exports of drawn wire totaled 6,024 mt in June 2021, down 1.9 percent from May but up 24.4 percent from June 2020 levels. By Value, drawn wire exports totaled $14.8 million in June, compared to $14.9 million in the previous month and $10.2 million …
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 161.7 million tonnes (Mt) in July 2021, a 3.3% increase compared to July 2020. China produced 86.8 Mt in June 2021, down -8.4% on July 2020. India produced 9.8 Mt, up 13.3%. Japan produced 8.0 Mt, up 32.5%. Crude …
World crude steel production increased by 3.3 % in July 2021 Read More »