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Egypt: EGP 28.6 million in sales of the Iron and Steel Company to mines in June 2023

News / By

Iron and Steel Company for Mines and Quarries, affiliated to the Holding Company for Metallurgical Industries, one of the companies of the Ministry of Public Business Sector, revealed that it achieved total sales of EGP 28.63 million in June. The Iron and Steel Company for Mines and Quarries said that the sales of Bahariya Oasis …

Egypt: EGP 28.6 million in sales of the Iron and Steel Company to mines in June 2023 Read More »

Investment Fund and Ma’aden intend to acquire 10% stake in a subsidiary of “Vale”

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Brazilian mining company Vale announced that it had reached two separate agreements to sell 13 percent of its base metals business for $3.4 billion, with the aim of boosting its copper and nickel production. Under the two agreements, a joint venture between the Saudi Arabian Mining Company (Maaden) and the Public Investment Fund will acquire …

Investment Fund and Ma’aden intend to acquire 10% stake in a subsidiary of “Vale” Read More »

Saudi Arabia issues 29 licenses to export steel and 12 for cement during the first half of 2023

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The Ministry of Commerce said that the total licenses for exporting steel and cement since the start of permitting exports amounted to 334, including 201 for steel export and 133 for cement. According to Al-Eqtisadiah newspaper, the ministry stated that from the beginning of 2023 until the end of the first half, 41 licenses were …

Saudi Arabia issues 29 licenses to export steel and 12 for cement during the first half of 2023 Read More »

US central bank raises interest rates to the highest level in 22 years

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The US Federal Reserve raised interest rates by a quarter of a percentage point yesterday, to their highest level in 22 years, attributing this to persistently high inflation. And the main interest rate, after the 11th increase since the Fed began the cycle of tightening monetary policy to curb inflation in March 2022, reached the …

US central bank raises interest rates to the highest level in 22 years Read More »

POSCO’s net profit is $607 million in the second quarter of 2023

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South Korea’s Pohang Iron and Steel Company (POSCO) announced its consolidated financial results for the second quarter of this year. In the indicated period, the Company reported an operating profit of KRW 1.32 trillion ($1.03 billion), an increase of 88% over the previous quarter. In the given quarter, POSCO’s revenue decreased 12.5% year-on-year to KRW …

POSCO’s net profit is $607 million in the second quarter of 2023 Read More »

Report: Emissions from China’s steel industry increased by 3.4% during the first half of 2023

News, Public Reports / By

From January to June 2023, total emissions from China’s steel industry increased by 3.4% compared to the same period in 2022, according to the China Iron and Steel Association (CISA). Sulfur dioxide emissions per tonne of steel were 0.21 kg/t (-17.7% per annum), smoke and dust – 0.25 kg/t (-16.5% per annum), nitrogen oxide – …

Report: Emissions from China’s steel industry increased by 3.4% during the first half of 2023 Read More »

Brazil extends protectionist tariffs on steel pipe imports from China and Romania

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The Brazilian Ministry of Industry, Trade and Services (MDIC) announced the extension of anti-dumping measures imposed on the imports of seamless carbon steel pipes up to 5 inches in diameter from Romania and China. The extension will be valid for five years, with an addition of $74.3/tonne for the Chinese product and $75.11/tonne for the …

Brazil extends protectionist tariffs on steel pipe imports from China and Romania Read More »

China’s hot rolled steel coils production increased by 9% during the first half of 2023

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In June, China’s total hot-rolled (HRC) and cold-rolled (CRC) steel coils production were 17.711 million tonnes and 3.465 million tonnes, up 12.9% and 3.0% year-on-year, while it decreased by 0.93% and increased by 2.51% compared to May respectively. From January to June 2023, China’s hot-rolled (HRC) steel coils output reached 100.79 million tonnes, up 9% …

China’s hot rolled steel coils production increased by 9% during the first half of 2023 Read More »

World crude steel production declined by 0.1% in June 2023

News, steel Statistics / By

According to preliminary data announced by the World Steel Organization on world production (63 countries) during June 2023, crude steel production amounted to 158.8 million tonnes, a decrease of 0.1% compared to production in May 2022. Africa produced 1.3 million tonnes in June 2023, up 11.5% compared to June 2022. Asia and Oceania produced 119.7 …

World crude steel production declined by 0.1% in June 2023 Read More »

Abu Dhabi Ports and Emirates Steel Arkan are cooperating with Japanese companies to establish a low-emission iron supply Complex

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In the presence of His Highness Sheikh Hamed bin Zayed Al Nahyan, Member of the Executive Council of the Emirate of Abu Dhabi, and the Prime Minister of Japan, Fumio Kishida, the Abu Dhabi Ports Group and the Emirates Arkan Steel Group have concluded a cooperation agreement with the two Japanese companies, Itoshu Corporation and …

Abu Dhabi Ports and Emirates Steel Arkan are cooperating with Japanese companies to establish a low-emission iron supply Complex Read More »

The European Union calls Washington to find a compromise to end the dispute over steel

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The European Union Trade Commission warned of the repercussions of the continuation of the US-European steel dispute and called for the need to find a compromise to end the confrontation between the two parties. In 2018, former US President Donald Trump imposed tariffs of 25 per cent on steel and 10 per cent on aluminium …

The European Union calls Washington to find a compromise to end the dispute over steel Read More »

Flat Steel 2023 conference

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The Ukraine war impact has derailed the post-Covid recovery in the global flat steel market, while China’s much anticipated demand rebound following the end of its zero-Covid policy is yet to materialise. Although inflation pressure and energy costs have eased since last year, steel-consuming investment remains subdued worldwide. The reconstruction of multiple Turkish cities following …

Flat Steel 2023 conference Read More »

Researchers at Khalifa University reveal six steps to achieving carbon neutrality

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Researchers from Khalifa University of Science and Technology in Abu Dhabi and other internationals have revealed six steps that contribute effectively to achieving carbon neutrality in the industrial sector by 2050. Represented by increasing financing by five times, accelerating technology transfers, investing in human resources, setting binding targets and managing social acceptance and the formation …

Researchers at Khalifa University reveal six steps to achieving carbon neutrality Read More »

Al-Jazeera Steel’s profits decreased to 2.03 million riyals (-28%) by the end of the first half of 2023

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”Al Jazeera Steel” company profits, which works in the manufacture of iron pipes, declined to 2.03 million Omani riyals (16 baisas / share) at the end of the first half of 2023, compared to profits of 2.82 million riyals achieved in the same period in 2022. Income List Period First Half 2022 First Half 2023 …

Al-Jazeera Steel’s profits decreased to 2.03 million riyals (-28%) by the end of the first half of 2023 Read More »

POSCO plans to increase steel production to 52 million tonnes by 2030

News / By

South Korean Pohang Iron and Steel Company (POSCO) announced that it plans to increase its annual steel production capacity to 52 million tons by 2030. With increased production, the company aims to achieve annual sales revenue of KRW 100 trillion ($79.05 billion), and triple its operating profit by 2030 compared to 2022. Meanwhile, POSCO will …

POSCO plans to increase steel production to 52 million tonnes by 2030 Read More »

Report: scrap collection in Ukraine decreased by 25.2% during the first half of 2023

News, Public Reports / By

Report: scrap collection in Ukraine decreased by 25.2% during the first half of 2023 In June 2023, the scrap collection volume in Ukraine increased by 11.6% compared to May 2023 and raised by 2.06 times compared to June 2022, reaching 86.7 thousand tonnes. This is according to the report of the Ukrainian Association of Mineral …

Report: scrap collection in Ukraine decreased by 25.2% during the first half of 2023 Read More »

Emirates Steel Arkan and Al Jazeera Steel Products sign a memorandum of understanding in the structural sections field

News / By

The Emirates Steel Arkan Group signed a memorandum of understanding with Al Jazeera Steel Products Company (AJSP), which specializes in manufacturing iron products in the Sultanate of Oman, to establish a strategic cooperation system that allows them to benefit more from their common experiences and seize new opportunities in the sector. The signing of the …

Emirates Steel Arkan and Al Jazeera Steel Products sign a memorandum of understanding in the structural sections field Read More »

The Minister of Agriculture and Rural Development visits the General Economic Company of Industrial Buildings, Batimetal

News / By

The Minister of Agriculture and Rural Development, Mohamed Abdelhafidh Henni, made an inspection visit on July 08, 2023, in El Attaf municipality, Ain Defla, within the framework of a project to study and implement metal silos and their accessories for grain storage with a capacity of 20,000 tonnes. This was in the presence of the …

The Minister of Agriculture and Rural Development visits the General Economic Company of Industrial Buildings, Batimetal Read More »

ArcelorMittal Brazilian steel slab exports increased to 1.46 million tonnes from January to June 2023

News / By

In June 2023, the Brazilian ArcelorMittal (AMP) steel slab exports increased by 57.8% month-on-month, reaching 278.6 thousand tonnes, and decreased by 9.9% compared to June 2022. From January to June 2023, steel tile exports increased by 6.6% compared to last year, reaching 1.46 million tonnes. From January to June of this year, the United States …

ArcelorMittal Brazilian steel slab exports increased to 1.46 million tonnes from January to June 2023 Read More »

Türkiye’s hot steel flats exports decreased by 32.8% from January to May 2023, including 3 Arab countries

News / By

In May this year, Türkiye’s hot rolled steel coils total exports increased by 25.8% compared to April but decreased by 39.8% year-on-year to reach 83,336 tonnes, according to the Turkish Statistical Institute (TUIK). The value of these exports amounted to $63.54 million, which increased 28.7% monthly but down by 56.7% compared to 2022. From January …

Türkiye’s hot steel flats exports decreased by 32.8% from January to May 2023, including 3 Arab countries Read More »

Egypt: $3.2 billion in building materials exports during January-May 2023

News / By

The Building Materials Export Council announced that the sectors’ total exports under the umbrella of the Export Council for Building Materials, Refractories, Metal Industries, and Construction and Building recorded from January to May 2023, 3.234 billion dollars, compared to 2022, with 3.183 billion dollars, an increase of 2%. The Export Council indicated that pipe exports …

Egypt: $3.2 billion in building materials exports during January-May 2023 Read More »

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