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 »
Dr. Wael Youssef, Managing Director of the Holding Company for Metallurgical Industries, revealed that the Delta Steel Mill will launch the new digital transformation project next month, pointing out that the plan of the Ministry of Public Business Sector for digital transformation and mechanization of work systems in affiliated companies is being implemented using the
In July this year, China’s rebar and wire rod outputs totaled 21.019 million mt and 13.516 million mt, down 12.5 % and 8.2 % year on year, while declining by 15.1 % and 4.83 percent month on month, respectively, according to China’s National Bureau of Statistics (NBS). Local rebar prices in China indicated an overall
China’s rebar output declines by 12.5 % in July Read More »
According to export data from the US Department of Commerce, US exports of rebar totaled 24,981 mt in June 2021, up 20.3 % from May and up 35.8 % from June 2020 levels. By value, rebar exports totaled $22.3 million in June, compared to $18.7 million in the previous month and $12.1 million the same
US rebar exports up 20.3 % in June Read More »
Having been protected by trade measures for seven years, Moroccan steel producers call for the prolongation of existing safeguards for long and flat products. The local authorities have decided to satisfy the request and already started respective proceedings. The Ministry of Industry, Trade, Investment and Digital Economy opened on August 17, 2021 two separate cases
Moroccan mills insist on extension of safeguards both for longs and flats Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3705.29 riyals in July 2021, up 0.04% compared to June 2021, which amounted to 3703.45 riyals, and an increase of 25.7% compared to the price of July in 2020, which amounted to 2947.7 riyals. As for
Average prices of steel and cement in Saudi Arabia in July 2021 Read More »
The Minister of Industry and Minerals, Ahmed Abu Heisa, visited the oxygen factory at the wire drawing headquarters of the Libyan Iron and Steel Company, accompanied by the Undersecretary for Production and Industrial Zones, Mustafa Al-Sammo. The media center of the ministries, bodies and institutions of the Libyan government stated that Abu Hissa said, “The
Mexico’s economy secretariat, SE, has extended existing anti-dumping (AD) duties over the imports of Chinese non-alloyed and boron-added CRC for another five years. SE said Baoshan Iron & Steel Co will continue paying a 65.99 percent AD tariff, while Steel Group Co. will pay an 82.08 percent levy. Beijing Shougang Cold Rolling Co. Ltd., Shougang
Mexico extends duties on Chinese CRC for five more years Read More »
Australian steelmaker BlueScope Steel has posted a net profit of A$1.19 billion ($875.45 million) for the full financial year 2020-21 ended on June 30, compared to a net profit of A$96.5 million in the previous financial year. The company attributed the increase in its net profit to the higher underlying EBIT. The company’s sales revenues
The Libyan Minister of Economy and Trade issued Resolution No. 300 of 2021, which bans the export of “scrap” in all its forms and types. The decision issued on Monday (August 16, 2021 AD) stated that the ban includes “scrap, scrap and scrap, light iron ingots, cast iron and pressed scrap (cars), iron manufactured from
Libya: The Minister of Economy and Trade prohibits the export of scrap Read More »
China’s major steel mills saw their average daily output of crude steel skid 4.4 percent year on year to about 2.04 million tonnes in early August, according to the China Iron and Steel Association. The country reported the first year-on-year contraction in crude steel output in late July since the start of 2021, eyeing a
China’s daily crude steel output down 4.4 pct in early August Read More »
According to export data from the US Department of Commerce, monthly steel exports in June 2021 increased 4.9 percent from May to total 705,578 mt. A year-on-year comparison shows a 74.6 percent increase. In terms of value, US steel exports in June totaled $1.09 billion, compared to $1.04 billion in May and $565.2 million in
US steel exports up 4.9 percent in June Read More »
Iron ore resumed plunging on Monday amid weak import data, indicating that production cuts in China are affecting demand. Australian iron ore fines 62% fell by $7.5/t to $163.25/t CFR, the lowest since late March, following an RMB 42.5/t ($6.6/t) decrease in January contracts on the DCE. The lasting demand weakness was still keeping the
Iron ore falls below $165/t on weak demand in China Read More »
Ezz Steel turned to net profits of EGP 2.39 billion in the first half (H1) of 2021, versus net losses of EGP 2.77 billion in H1-20, including minority shareholders’ rights. The sales surged to EGP 30.42 billion in the six-month period ended 30 June, compared to EGP 17.82 billion in the corresponding period in 2020,
Ezz Steel turns profitable in H1-21 Read More »
In June this year, Turkey’s total hot rolled coil (HRC) exports decreased by 32.3% to 168,545 metric tons compared to May and were down 45.2% year on year, according to the data provided by the Turkish Statistical Institute (TUIK). These exports had a value of $148.02 million, down 25.4% month on month, while increasing by
Turkey’s HRC exports down 27.2% in H1 2021 Read More »
The European Commission says it has started an expiry review on existing anti-dumping duties on Chinese and Russian cold rolled coil. The review, requested by Eurofer, will determine whether to extend the duties beyond their natural ending. The provisional measures were put in place in February 2016, with definitive duties confirmed in August 2016. Russian
EU starts Chinese, Russian CRC anti-dumping duty review Read More »
Abu Dhabi National Energy Company TAQA Group and Emirates Steel have revealed a partnership to develop a large-scale green hydrogen project to enable green steel production in the MENA region. The hydrogen will enable green and low steep manufacturing, saving energy while creating a sustainable and clean manufacturing process. Under the newly signed memorandum of
In June this year, Turkey’s rebar exports amounted to 681,787 metric tons, up 1.1 percent compared to May and increasing by 42.4 percent year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). The revenue generated by these exports totaled $433.47 million, increasing by 3.0 percent compared to May and
Turkey’s rebar exports increase by 34.7% in H1 2021 Read More »
SMS supplies world-first greenfield e-scrap recycling plant for precious metals to ecopolis The new plant will recycle electrical and electronic scrap for the recovery of high-purity copper, nickel, gold, silver, and platinum. Following a multi-month commissioning phase, SMS group has handed over a greenfield recycling plant for waste electrical and electronic equipment (WEEE) to Aurus
The Brazilian Chamber of Foreign Trade started a review of the antidumping duty (AD) order on seamless pipes from China due to its expiry this July. The step is aimed to determine whether the extinction of the antidumping duty on imports of non-alloyed carbon steel tubes, without seam, with circular section and an external diameter
Brazil to review anti-dumping duties on seamless pipe imports from China Read More »
In the first six months of the current year, Chinese steelmakers which are members of the China Iron and Steel Association (CISA) posted an aggregate gross profit of RMB 226.8 billion ($35.1 billion), up 2.2-fold year on year, as stated by Shen Bin, chairman of the CISA. In the first half this year, CISA-member steelmakers
Profits of China’s steel companies up in H1 2021 Read More »
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in June this year the value of Turkey’s iron and steel imports increased by 84.6% year on year, totaling $2.23 billion. In June, iron and steel ranked in third place among the most imported products
Turkey’s steel import up 83.8% in H1 2021 Read More »
ArcelorMittal, the world’s largest steelmaker, profited from the continued economic recovery from the COVID-19 pandemic to report its highest quarterly earnings in 13 years, beating expectations, and announced a new share buyback. The Luxembourg-based company also said on Thursday it had raised its forecast for the growth in global steel consumption this year to 7.5-8.5%
ArcelorMittal has best quarter in 13 years on strong steel demand Read More »
Iron ore slumped to its two-month low since prevailing pessimism in market moods continued to put pressure on the raw material price. Australian iron ore fines 62% Fe dipped by huge $12.5/t to $182/t CFR after its futures on the DCE plunged by RMB 87.5/t ($13.5/t) to RMB 1027/t ($159/t). Iron ore prices in both
Iron ore falls to $182 per ton, lowest in two months Read More »
Australia’s major miner Rio Tinto has achieved bright financial results in the first half of 2021, supported by a surge of raw materials prices, mainly those for iron ore. “Rio Tinto managed to increase underlying EBITDA and underlying earnings by as much as 118% and 156% to $21.04 billion and $12.17 billion t respectively in
Rio Tinto’s financial results shine in H1 2021 as iron ore price spikes Read More »
hina will raise export tariffs for pig iron and ferrochrome, and remove export tax rebates for 23 steel products from Aug. 1, the second adjustment in three months as it seeks to ensure domestic supply while controlling output to curb emissions. Export tariffs for high-purity pig iron will be lifted to 20% from 15%, and
China raises export tariffs for some steel products again in green push Read More »
The Iron and Steel Company for Mines and Quarries announced that it achieved sales of 23.33 million pounds during the period from April to the end of last June. The company explained in a statement to the Egyptian Stock Exchange, today, Thursday, that its sales rose during the month of June to record 7.83 million
Egypt: 23.3 million pounds in sales of the Iron and Steel Company for Mines in 3 months Read More »
The Minister of Industry, Ahmed Zghdar, met today, Thursday, in Algiers, with officials of the iron and steel complex “Imetal Group”, where the situation of the complex and the problems faced by some of its branches were discussed, according to a ministry statement. In this meeting, the minister received “full explanations about the reality of
The Minister of Industry meets the officials of Imetal Group Read More »
Iron ore resumed sliding after a short break amid more temporary production cuts in Tangshan city, higher supply and renewed trade tensions between China and US. Australian iron ore fines 62% dropped by $2/t to $199/t CFR, falling below $200/t CFR for the first time since May 31. Spot prices followed a RMB 27/t ($4.2/t)
Iron ore below $200/t as market weakens in China Read More »
The International Monetary Fund on Tuesday maintained its 6% global growth forecast for 2021, upgrading its outlook for the United States and other wealthy economies but cutting estimates for developing countries struggling with surging COVID-19 infections. The divergence is based largely on better access to COVID-19 vaccines and continued fiscal support in advanced economies, while
IMF raises growth forecasts for rich nations, dims outlook for developing world Read More »