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 […]
The China Iron and Steel Association (CISA) has announced that in early June (June 1-10) this year the average aggregate daily crude steel output of large and medium-sized steel enterprises in China – all CISA members – totaled 2.3353 million mt, up 2.15 percent compared to late May (May 21-31). In late May, the average
Mills’ daily steel output up 2.15% in China and stocks up 6.14% Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Saudi Arabia 3351.19 riyals in May 2021, a decrease of -0.7% compared to April 2021, which amounted to 3377.76 riyals, and an increase of 26.8% compared to the price of May in 2020, which amounted to 2664.1 riyals.
Average prices of steel and cement in Saudi Arabia in May 2021 Read More »
The Jordan Chamber of Industry, in agreement with the local iron and steel mills, issued a new guidance manual for the prices of the sale of manufactured rebar in the Kingdom. According to the bulletin, the price of rebar grade 60 between 417.8 – 480.84 dinars EXW without sales tax. According to the bulletin, which is
Weekly indicative bulletin of rebar prices in Jordan Read More »
Ezz Dekheila Steel – Alexandria turned profitable during the first quarter of this year, recording a profit of 1.02 billion pounds at the end of last March, compared to 1.08 billion pounds in the first quarter of 2020. The company’s consolidated financial statements showed an increase of 28.2% in sales to 11.72 billion pounds during
Ezz Dekheila Steel turns profitable in Q1, supported by a 28% sales growth Read More »
Thailand’s Department of Foreign Trade (DFT) has announced the final decision of its expiry review of the antidumping duty on imports of certain hot rolled coil products from Japan, South Africa, Russia, Kazakhstan, India, South Korea, Taiwan, Venezuela, Argentina, Ukraine, Algeria, Indonesia, Slovakia and Romania. The DFT decided to maintain antidumping duties on the imports
Thailand maintains AD duties on HRC from 14 countries for 5 years Read More »
Egypt’s exports of iron and steel rose in the first four months of 2021 to record $460 million , compared to $183 million in the same period in 2020, an increase of 152%, to record steel exports a big boom in that period. A recent report by the Building Materials Council revealed that Italy is
$460 million , Value of Egypt’s steel exports in four months, up 152% Read More »
The European Commission has sent member states a draft proposal to extend the steel import safeguards for another three years. The Commission is also expected to increase the quota volumes by three per cent; which are due to expire on June 30. The import quotas were expected to be extended for one year. However, market
EU to extend steel import quotas for another three years Read More »
Ambassador Muhammadi Ahmed Al-Ni, the new Secretary-General of the Council of Arab Economic Unity of the League of Arab States, began his work in the library of the General Secretariat, where he held a series of meetings with the cadres of the Council to find out the latest developments in the work of the Council
Lebanon continued to decrease steel product imports in 2020. Along with the troubled economic and political situation, the pandemic made a serious contribution to the negative dynamics. The structure of the trade flow also changed. Total steel imports to Lebanon decreased by 50% year-on-year in 2020. According to the Lebanese Customs Administration, the country received
Lebanon halves steel imports in 2020 Read More »
The EU and USA will next week discuss a possibility of the cancelation of Section 232 tariffs imposed by the US on steel imports for the EU. The 25% tariff on steel imports could be lifted by December this year. As part of the trade thaw discussions between the US and EU started in May,
USA could lift 25% steel tariff for EU by December Read More »
According to the data provided by the Turkish Statistical Institute (TUIK), in April this year Turkey’s wire rod exports increased by 149.0 percent year on year to 140,641 metric tons, up 29.5 % compared to the previous month. The revenue from these exports amounted to $96.62 million, up 38.0 % month on month and increasing
Turkey’s wire rod exports up 10.4% in January-April Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 72,397 mt in April 2021, down 18.6 percent from March and down 5.9 percent from April 2020 levels. By value, rebar imports totaled $63.2 million in April 2021, compared to $69.9 million in March and $53.7 million in April
Algeria is Largest exporter of rebar to US in April Read More »
Hisham Tawfiq, Minister of Public Business Sector – Chairman of the General Assembly of Metallurgical Industries Holding – issued a decision to re-form the Board of Directors of Metallurgical Industries Holding, for a period of three years. The decision included assigning Dr. Saad Mujahid Al-Rajhi to do the work of a non-executive chairman of the
The Organisation for Economic Co-operation and Development (OECD) raised its 2021 global GDP growth forecast Monday but warned that “too many headwinds persist” as not enough COVID-19 vaccines are reaching emerging economies, making the world vulnerable to variants. The world economy will expand by 5.8 percent this year, the highest since 1973 and up from
OECD raises world GDP growth forecast to 5.8% but fears ‘headwinds’ Read More »
April expectedly became a hot month for scrap imports to Turkey, first of all owing to strong support from overseas steel buyers. Moreover, it was the tenth consecutive month of robust demand for scrap in the country, supporting the overall positive trend for January-April 2021. The EU traditionally supplied the lion share of both the
Scrap imports to Turkey reach almost 2.5 million t in April due to increased sales Read More »
Ezz Steel is the largest steel producer in the Arab region as per worldsteel’s Top Steel Makers List For 2020 which has just been published. With 4.6 million tons in output, Ezz Steel is the leading Arab steel producer, followed by Hadeed in KSA at 4.5 million tons, Emirates Steel at 2.7 million tons and
Ezz Steel Leads Steel Production In The Region In 2020 Read More »
The European Commission has published provisional antidumping duties (AD) on imports of stainless steel cold rolled flat products from India and Indonesia. The provisional antidumping duty rates range between 13.6 percent and 34.6 percent for India and between 19.9 percent and 20.2 percent for Indonesia. The Commission investigation confirmed that dumped imports from India and
EU imposes provisional AD duty on stainless CRC imports from India and Indonesia Read More »
The Egyptian Iron and Steel Company announced the schedule for appointing the liquidator or liquidators for the company, and the date for the completion of the liquidation works. The company said in a statement to the Egyptian Stock Exchange that the liquidator is expected to be appointed immediately on Monday, May 31, 2021, and the
Egyptian Iron and Steel announces the schedule for completing the liquidation works Read More »
An outbreak of Covid-19 has partly closed one of the world’s busiest ports, a shutdown that may add to the already record cost of shipping goods out of China. Yantian Port in the export and industrial hub of Shenzhen in southern China will not accept any containers for export until Sunday May 30, according to
Covid Outbreak Partly Closes One of China’s Busiest Ports Read More »
Forging ahead toward a greener future, China is ever more committed to transforming the steel industry into a low carbon-emitting one amid its long-term green pledges. As China has promised to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060, the steel industry remains the largest emitter among all manufacturing sectors in
The Russian economic development ministry’s regulations sub-committee has recommended to increase the minimum fiscal value of ferrous scrap export duty from the existing €45/tonne to €70/t ($85). The existing level is set to expire in late July. The initial recommendation by the ministry was to double the minimum duty level to €90/t. The new suggested
Russia to approve €70/t minimum scrap export duty Read More »
The Abu Dhabi National Oil Company (ADNOC) announced the signing of a long-term agreement to sell natural gas with Emirates Steel in Abu Dhabi. Under the terms of the agreement, ADNOC will supply natural gas to Emirates Steel over the next ten years to support the growing demand for energy and raw materials from the
According to preliminary census data from the US Department of Commerce, US monthly steel imports in April 2021 increased 14.1 percent from March to total 2,391,729 mt. A year-on-year comparison shows a 5.2 percent decrease. In terms of value, US steel imports in April totaled $2.39 billion, compared to $2.05 billion in March and $1.83
US steel imports 2.4 million tons in April Read More »
The Securities Listing Committee of the Egyptian Stock Exchange decided to list the shares of the Iron and Steel Company for Mines and Quarries, a split company emerging from the division of the Egyptian Iron and Steel Company into two “divided and divided” companies. The Egyptian Stock Exchange clarified, in a statement on Wednesday, that
EGX approves to register iron and steel mines, with a capital of EGP 195.3 million Read More »
According to a new report issued by the China Iron and Steel Association (CISA), demand for steel in China in April has been very good, strongly bolstering steel prices. Moreover, steel prices surged at a higher speed following the Labor Day holiday due to decent demand and high levels of raw material prices. Reaching their
CISA: China’s steel prices to stabilize in late May Read More »
Goldman Sachs said it expects oil prices to climb to $80 per barrel in the fourth quarter of this year, arguing that the market has underestimated a rebound in demand even with a possible resumption in Iranian supply. “The case for higher oil prices therefore remains intact given the large vaccine-driven increase in demand in
Goldman sees oil hitting $80/bbl in Q4 2021 Read More »
Still having not fully recovered from pandemic challenges, the construction industry of Turkey faced another issue – the galloping increase in input prices, including those for steel components. The representatives of construction contractors voiced their concerns, asking for governmental support and intervention. Turkey’s construction sector urged the government to find a solution, stressing the sharp
Turkey’s construction sector demands examination of steel price increase Read More »
The Egyptian Iron and Steel Company submitted a request to stop dealing in the company’s shares as of the beginning of the trading session tomorrow, Tuesday, May 25th. The company stated in a statement to the Egyptian Stock Exchange today, Monday, that the suspension of trading until the presentation to the registration committee to consider
In April this year, hot rolled coil (HRC) output in China totaled 16.156 million mt, rising by 8.2 percent from March results. In the January-April period this year, China’s hot rolled coil (HRC) production amounted to 61.225 million mt, up 18.1 percent year on year, which was 2.1 percentage points faster than the increase rate
China’s HRC output up amid higher prices Read More »