CEO of Riyadh Steel Company, Ahmed bin Abdulkarim Al-Nafi, said that the company has a plan to establish a new factory near the city of Riyadh, which will allow it to expand and diversify the types of products offered to customers. In an interview with Arqaam, Al-Nafi pointed out that regional iron consumption is expected …
On the sidelines of the 16th Arab Steel Summit Conference, the 127th meeting of the Board of Directors of the Arab Iron and Steel Union was held on October 29th. The meeting was chaired by Mr. Awad Al-Khalidi, Chairman of the Board of Directors of the Arab Iron and Steel Union, who began his speech …
Arab Iron and Steel Union holds its 127th Board of Directors meeting in Cairo Read More »
The first meeting of the Technical Committee of the Arab Iron and Steel Union was held today at the Royal Maxim Palace Kempinski Hotel in Cairo – Arab Republic of Egypt. It is a procedural meeting where the internal law of the Technical Committee was approved and Dr. Othman Al-Malaki, Executive Director of the Technology …
British Steel is preparing to cut up to 2,000 jobs as part of a cost-cutting programme, according to a report, even as its Chinese owners seek major financial relief from the UK government. The potential staff cuts, reported by the Sunday Times, are said to be a key part of plans to replace its coal-fired …
According to Ezz Steel Company’s report to the Egyptian Stock Exchange, local consumption of rebar decreased by 28% during the first half of 2023, reaching 2.8 million tons as a result of the economic crisis and price inflation. Actual production (reinforcing steel – wire rod) also decreased by 20%, reaching 3.567 million tons, and rebar …
According to the prices announced in the global steel markets, scrap prices amounted to $355/ tonne, $8 down compared to last week’s prices, and iron ore prices $116/ tonne, $2 down compared to last week’s prices, while the prices of billets ranged between 465 – 525 Dollars per tonne, while it was between 475 – …
Brazilian miner Vale produced 86.23 million metric tons of iron ore and 9.18 million metric tons of pellets during the third quarter of 2023, 3.9% and 11.1% less, respectively, compared to the third quarter of 2022. Compared to the second quarter of 2023, iron ore and iron pellets production increased by 9.5% and 0.7%, respectively. …
Vale’s iron ore production declines in the third quarter of 2023 Read More »
Talks between the European Union and the United States regarding tariffs on steel trade are still stalled, according to informed sources. This comes at a time when the two sides are trying to avoid the return of billions of dollars in duties on European steel exports to the United States, ahead of the US-European summit …
US-European steel tariff negotiations falter…difficult points of contention Read More »
According to iron prices daily monitoring in Egypt, rebar prices ranged between EGP 34,000 – and EGP 31,800 EXW. The companies that did not change prices are Ezz Steel EGP 32,135. Suez Steel, EGP 32,050, Beshay Steel, EGP 34,000, Egyptian Steel, EGP 32,050, and El-Garhy Steel, EGP 31,500. The companies that raised prices are El-Marakby …
The latest update on rebar prices in Egypt is October 18, 2023 Read More »
In August this year, Turkey’s rebar exports reached 370,830 tonnes, an increase of 12.1% compared to July and a decrease of 35.8% year-on-year, according to preliminary data from the Turkish Statistical Institute (TUIK). Meanwhile, the total revenue generated from these exports amounted to $218.56 million, an increase of 6% compared to July and a decrease …
Türkiye’s rebar exports decreased by 48% during January-August 2023 Read More »
The profits of Al-Jazeera Steel Company, which operates in the iron pipe industry, rose to 2.41 million Omani riyals (19 baisa/share) by the end of the first nine months of 2023, compared to profits of 2.18 million riyals achieved in the same period in 2022, as the following table shows: Income List Period September 2022 …
Al Jazeera Steel’s profits increased by 11% during January – September 2023 Read More »
Oman and Etihad Rail Company, the developer and operator of the railway network linking the Sultanate of Oman and the UAE, signed a memorandum of understanding with Emirates Steel Arkan , the largest iron and building materials Production Company in the UAE, to export raw materials from the Sultanate of Oman to the UAE. Under …
An agreement between Oman, Etihad Rail and Emirates Steel Arkan to transport limestone Read More »
During the first half of this year, the consolidated financial statements of Ezz Steel showed the company’s shift from profitability to losses on an annual basis. The company explained in a statement to the Egyptian Stock Exchange today that it recorded net losses amounting to 809.77 million pounds during the period from January until the …
Ezz Steel turns to losses and incurs 809.8 million pounds in H1 2023 Read More »
The Egyptian Iron and Steel Company “under liquidation” announced that the liquidation surplus during the first half of this year amounted to EGP 1.148 billion. The Egyptian Iron and Steel Company said that the total liquidation revenues from January until the end of June 2023 amounted to about EGP 1.503 billion. The Egyptian Iron and …
According to final census data from the U.S. Department of Commerce, U.S. wire rod imports totalled 89,393 tonnes in August 2023, an increase of 25.1% from July and 27.3% from August 2022 levels. In terms of value, total wire rod imports reached $85.7 million in August 2023, compared to $71.2 million in July and $86.5 …
According to the prices announced in the global steel markets, scrap prices amounted to $363/ tonne, $7 down compared to last week’s prices, and iron ore prices $118/ tonne, $2 down compared to last week’s prices, while the prices of billets ranged between 475 – 505 Dollars per tonne, while it was between 485 – …
Danieli has announced the renovation of CMC’s rolling mill in Poland in Zawiercie. The factory’s production capacity is 500,000 tons annually of rods and wire coils, which are used in construction, agriculture, energy, machinery and consumer goods. The purpose of the renovation is to improve the rolling mill performance, in addition to updating the unit’s …
Danieli renews the rolling mill at the CMC plant in Poland Read More »
Emirates Steel Arkan , one of the largest publicly traded steel and building materials manufacturers in the region, announced that it has become a member of “ResponsibleSteel” under the business category. ResponsibleSteel is a global not-for-profit multistakeholder standard and certification initiative that serves as a driving force in the socially and environmentally responsible production of …
Emirates Steel Arkan becomes member of multi-stakeholder ‘ResponsibleSteel’ organization Read More »
Today, President Abdel Fattah El-Sisi received Mr Gianpietro Benedetti, Chairman of the Board of Directors of the Italian company “Danieli”, in the presence of Prime Minister, Dr Mostafa Madbouly, Dr Hala El-Said, Minister of Planning and Economic Development, Engineer Mahmoud Esmat, Minister of the Public Business Sector. In addition to Major General Mokhtar Abdel Latif, …
In September 2023, Ukraine’s semi-finished steel products exports increased by 18.4% compared to the previous month, reaching 144.05 thousand tonnes, and by 88.3% compared to September 2022. The exports value for this month increased by 16.9% monthly, reaching $66.02 million, and by 42.9% compared to the same month last year. Compared with September 2022, in …
Jordan Steel Company announced rebar prices for October for 60 EXW, between 432 and 440 dinars per tonne, excluding sales tax. However, with sales tax, it is between 515 and about 525 dinars per tonne. Grade Price without tax Price with tax Sales / tonnes Sales / tonnes Min Max Min Max 60 432 …
Jordan Steel announces rebar prices for October 2023 Read More »
The China Iron and Steel Association – CISA – announced that in late September (21-30) this year, the average total daily crude steel production of large and medium-sized steel enterprises in China reached 2.0664 million tonnes, down 3.15% compared to mid-September (11-20) of the current year. In mid-September, the average daily total crude steel production …
China’s daily steel mill production fell by 3.15% in late September Read More »
According to the iron prices daily monitoring in Egypt, rebar prices ranged between EGP 34,000 and 30,000 EXW The companies that did not change prices are Ezz Steel EGP 32,135. Suez Steel, EGP 32,050. Beshay Steel, EGP 34,000, and Egyptian Steel, EGP 32,050. The companies that reduced prices are El Marakby Steel from EGP 32,000 …
The latest rebar prices update in Egypt is October 10, 2023 Read More »
After a hiatus that lasted for quite a while, the Libyan Iron and Steel Company announced a production exceeding 1,000 tons per day of hot-rolled coils of various sizes (thickness 2-3-4 mm, and width 1 meter – 1.25 meters – 1.50 meters) after the company-resumed production in its factories. The General Administration of Flat Rolling …
The Indian company Tata Steel announced sales of 4.82 million tonnes in the second quarter (July-September) of the fiscal year 2023-2024, a decrease of 2% year-on-year, according to a company statement on Monday, October 9. The company said that sales in Thailand and Europe reached 1.79 million tonnes, down four per cent year-on-year. Tata Steel’s …
The Ministry of Economy of the United Arab Emirates decided to maintain restrictions on the country’s steel scrap exports for an additional three months. On May 15 this year, the country banned steel scrap export for four months, and the ban on scrap export has now been extended until the end of December to support …
UAE extended the ban on exporting steel scrap until the end of the year Read More »
Industries Qatar, one of the largest industrial companies in the region with multiple activities in a wide range production of petrochemicals, chemical fertilizers, and iron and steel products, announced the completion of all shares acquisition of Qatar Rebar Production Company by its subsidiary, Qatar Steel. The total amount of 346 million Qatari riyals, excludes cash …
The Iron and Steel Company for Mines and Quarries announced that it achieved total sales during the month of August amounting to 24.183 million pounds. The company explained in a statement to the Egyptian Stock Exchange that sales of Bahariya Oasis mines during August amounted to 24.12 million pounds. She added that the sales value …
Egypt : 24.18 million pounds in iron and steel sales to mines in August Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $370/ tonne, $4 down compared to last week’s prices, and iron ore prices $120/ tonne, unchanged compared to last week’s prices, while the prices of billets ranged between 485 – 510 Dollars per tonne, while it was between 475 – 520 …
The Executive Vice President of the Mining Sector at the National Industrialization Company, Dr. Fadi Trabzoni, details of the first pig iron shipments from Jizan to the United States. Trabzoni added, during his interview broadcast on Al-Ekhbariya channel, that the shipment is estimated at 37 thousand tonnes and will be exported from the first and …
Saudi Arabia: Exporting 37 thousand tonnes of pig iron to the United States Read More »