Despite the COVID-19 pandemic that was declared towards the beginning of 2020, MIDREX® Plants produced 65.7 million tons in 2020, 3.0% less than the 67.7 million tons produced in 2019. The production for 2020 was calculated from the 35.5 million tons confirmed by MIDREX Plants located outside of Iran and the 30.2 million tons for …
Report : MIDREX direct reduction technology and Arab steel mills Read More »
The Green Climate Fund (GCF), the South Korea-based United Nations climate fund aimed at helping poor nations fight global warming, has approved $500 million in funding for new projects and programs, according to Seoul’s finance ministry Sunday. During a virtual meeting held from June 28 to July 2, the GCF’s board discussed new funding and …
GCF board endorses $500 million for new projects to support climate action Read More »
British Steel has unveiled another new product for the construction market – weathering steel structural sections. Self-protecting, durable and attractive, weathering steel is ideal for a whole range of outdoor structures in exposed locations including bridges, buildings and catenary gantries on railway lines. The steel’s corrosion rate is so low that structures fabricated from unpainted …
British Steel launches weathering steel structural sections for construction market Read More »
Tomorrow, Sunday, July 4 in Egypt, the governorates will start implementing the new building requirements and the new licensing system in all centers and cities, in accordance with the Cabinet’s decision issued last April, to start applying the new building requirements and the new licensing system to the cities that were selected for experimental application …
Today, Thursday 1-7-2021, 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 Attia Steel 14300 El-Marakiby steel 14300 Egyptian Steel 14500 Maadi Steel 14300 Alshry Steel 14300 Misr Steel 14300
Based on the letter of the Minister of State for Prime Minister and Cabinet Affairs dated June 30, 2021 regarding his referral of the instructions of His Excellency the Prime Minister to the Government of National Unity regarding stopping work at the Iron and Steel Complex during the months of July-August; In support of the …
The statement of the Libyan Iron and Steel Company regarding the suspension of work Read More »
Iron ore price continued to improve gradually on Thursday amid larger trading volumes and optimistic short-term demand forecasts, though port inventories slightly increased. Australian iron ore fines 62% Fe climbed by $2.5/t to $216.5/t CFR, while both its futures on the DCE and steel tags remained mostly stable on daily basis. The rise was supported …
Iron ore rise supported by improved trade, expected restrictions ease Read More »
A group of some of the world’s most powerful oil producers agreed on Tuesday to continue gradually easing production cuts amid a rebound in oil prices. OPEC and its oil-producing allies, known as OPEC+, will boost output in July, in accordance with the group’s April decision to return 2.1 million barrels per day to the …
Oil jumps to two-year high as OPEC and allies reconfirm gradual production increase Read More »
In April this year, Japan’s iron and steel product exports amounted to 2.74 million metric tons, down 13.2 percent month on month and decreasing by 3.6 percent year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-April period this year, Japanese iron and steel product …
Japan’s steel exports down 8.9 percent in Jan-Apr Read More »
The Indian government has announced that antidumping (AD) duties on certain steel products have been extended until December 2021, a government official said on Wednesday, June 30, citing official notifications issued by the Central Board of Indirect Taxes (CBITC). According to the CBITC, AD duties on hot rolled alloy and non-alloy steel imported from China, …
India extends AD duties on certain steel imports until December 15 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 247 10 mm Kuwait Ton 247 12 mm Kuwait Ton 247 14 mm Kuwait Ton 247 16 mm Kuwait Ton 247 Domestic Rebar Size Origin …
More steel producers in North and East China have been imposed on restrictive measures their daily production for pollution control during the celebration of the centenary of the Communist Party of China (CPC) on July 1. Steel mills in North China’s Shanxi province, also a major steel producing hub neighbouring Hebei and Beijing have been …
More steel mills curb production ahead CPC centenary Read More »
NUCOR-JFE STEEL MEXICO has granted SMS group the final acceptance certificate (FAC) for the new continuous galvanizing line built in Silao, Mexico. SMS group supplied the plant and was responsible for engineering and technology as well as electrical and automation systems. The hot-dip galvanizing line is designed for 400,000 tons of hot and cold rolled …
Final acceptance granted for new hot-dip galvanizing line from SMS Group Read More »
Russia’s Prime Minister Mikhail Mishustin signed a resolution on 23 June to increase the export duties on ferrous scrap to 5%, but no less than €70/t ($84/t), up from the current duty of 5pc, but no less than €45/t. The increased duty will take effect within 30 days of publication and will be in effect …
Russia confirms €70/t duty on ferrous scrap exports Read More »
In May this year, Brazilian miner Vale’s iron ore export volume totaled 22.33 million mt, up 13.2 percent compared to April and increasing by 15.6 percent compared to May 2020, according to Brazil’s National Union of the Industry of Extraction of Iron and BaseMetals (Sinferbase). In the January-May period of the current year, Vale’s iron …
Vale’s iron ore exports up 13.1 percent in January-May Read More »
According to preliminary census data from the US Department of Commerce, US monthly steel imports in May 2021 decreased 4.8 % from April to total 2,280,949 mt. A year-on-year comparison shows a 38.8% increase. In terms of value, US steel imports in May totaled $2.44 billion, compared to $2.40 billion in April and $1.42 billion …
Russia plans to impose temporary export taxes on ferrous and non-ferrous metals starting August as a means to compensate costlier steel products for state projects. Apart from the base 15% rate, there will be an individual component for every commodity. On June 24, the Ministry of Economic Development of Russia proposed a temporary 15% export …
Russia to impose 15% export tax on ferrous and non-ferrous metals on August 1 Read More »
Oil prices recorded $76.18 a barrel for the Brent crude futures contract at the settlement on Friday, and the US West Texas Intermediate crude futures recorded $74.05 a barrel. International media reports stated that oil prices in global markets rose to their highest levels since October 2018, as prices were supported by expectations that demand …
Oil prices rise to highest since Oct 2018, Brent reaches $76.18 per barrel Read More »
China’s run-of-mine (ROM) iron ore output refreshed its three-year high in May, reaching 87.6 million tonnes, up 14.4% on year and 0.8% higher on month. Though the total output over January-May at 405.8 million tonnes, grew more slowly at 17.9% on year than the 18.6% on-year gain for the first four months, according the data …
China’s production of iron ore in May is the highest in 3 years Read More »
The board of Arkan Building Materials Company has approved the offer, received from General Holding Corporation (Senaat) on 9 May, to transfer its wholly-owned subsidiary, Emirates Steel Industries (Emirates Steel), to Arkan. Arkan will acquire Emirates Steel in exchange for the issuance of a convertible instrument to Senaat, according to a press release on Thursday. Upon closing of the transaction, the …
Arkan’s board approves Emirates Steel acquisition transaction Read More »
Maghreb Steel’s sales increased by 39% in Q1 2021 to 124,000 tons, as the company indicated that this increase comes within Stronger shipments resulted from the continuing recovery of the national economy that began in Q4 2020, and had a positive impact on business performance during Q1 2021, As the company relied on the local …
Maghreb Steel’s revenue increased by 54% in Q1 2021 Read More »
The Egyptian Iron and Steel (Hadisolb) has received a technical and financial offer from a Ukrainian company to rehabilitate, develop, and manage the steel manufacturing firm, currently under-liquidation, under a revenue-sharing scheme. The offer is under consideration by the parent company, Metallurgical Industries Holding Co, according to a bourse disclosure on Tuesday. At the end of May, the …
Ukrainian firm offers to develop, manage Hadisolb Read More »
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 174.4 million tonnes (Mt) in May 2021, a 16.5% increase compared to May 2020. China produced 99.5 Mt in May 2021, up 6.6% on May 2020. India produced 9.2 Mt, up 46.9%. Japan produced 8.4 Mt, up 42.2%. Top …
World production of crude steel increased by 16.5 % in May 2021 Read More »
The European Union is working toward having the U.S. lift its national-security tariffs on metal imports by the end of the year, EU Ambassador to Washington Stavros Lambrinidis said. “We’re going to be sitting down in the next five months until the end of the year …
Global prices for crude extended their rally, pushing above $75 a barrel for the first time since April 2019, as a rapid rebound from the Covid-19 pandemic across the world underpins increasing fuel consumption. The international benchmark Brent rose 0.36% to $75.17 per barrel as of 6:32am GMT on Tuesday. West Texas Intermediate, which tracks …
Oil rallies above $75 for first time since April 2019 Read More »
According to export data from the US Department of Commerce, US exports of rebar totaled 20,640 mt in April 2021, up 21.9 percent from March and up 55.9 percent from April 2020 levels. By value, rebar exports totaled $17.5 million in April, compared to $13.9 million in the previous month and $8.3 million the same …
Thailand’s commerce ministry has cancelled a preliminary anti-dumping duty of 35.67% on imports of hot-dipped galvanised steel from China. Until further notice, the ministry has cancelled, effective 1 June, the collection of a security deposit and will also return the collateral that has been collected for the anti-dumping duty. The decision is temporary until a …
Thailand cancels preliminary anti-dumping duty on Chinese HDG Read More »
China’s crude steel output continued to grow rapidly over January-May, with the total volume surging 13.9% on year to 473.1 million tonnes, according to the latest release by the country’s National Bureau of Statistics (NBS) on June 16. However, the on-year growth has slower compared with the 15.6% on-year gain for the January-April period. For …
China’s crude steel and finished steel production output rises in January-May Read More »
Brazilian crude steel production in May rose 40.1 percent, year-over-year, to 3.1 million mt, according to a report this week from the local steel association, IABr. Brazilian domestic steel sales volumes in May this year grew 73.9 percent, year-over-year, to 2.1 million mt. Apparent steel consumption in May totaled 2.5 million mt, 83 percent up, …
Brazilian crude steel output increases 40.1 percent in May Read More »
The Chairman of the Board of Directors of the Libyan Iron and Steel Company (LISCO), Mohamed Al-Faqih, said that the company needs government support to raise its production to 4 million tons of iron and steel products. Al-Faqih added, in press statements, that the company has a strategic plan for development worth $2.4 billion, which …