According to daily steel prices follow-up in Egypt, rebar prices ranged between EGP 31,000 – 38,000 upon EXW. Some companies fixed their prices while some reduced them compared to last week. Companies that did not change the prices are Ezz Steel EGP 32,135, Suez Steel EGP 32,050, Beshay Steel EGP 38,000, Egyptian Steel EGP 32,050, …
The latest rebar prices update in Egypt is July 11, 2023 Read More »
The Jindal Group, based in India, stated that it continues its investments in Oman in line with its commitment to make several strategic investments to promote social and economic growth and support the country’s transition to a green economy. The company is building a pelletizing plant in Sohar with an annual production capacity of 6 …
Jordan Steel Company announced the rebar prices for July for the 60-gauge steel EXW, between 430-450 dinars per tonne without sales tax and between 500-520 dinars per tonne with tax. Grade Price without tax Price with tax Sales / tonnes Sales / tonnes Min Max Min Max 60 430 450 500 520
The Egyptian Ministry of Trade and Industry issued Decision N° 189 bis for 2023 regarding the dumping duties extension on steel imports from abroad for four years, provided it applies on 1st June 2023. The decision, published in the Official Gazette No. 122, continued on June 1, 2023, said in its first article that the …
According to the prices announced in the global steel markets, scrap prices amounted to $379 / tonne, $1 less compared to last week’s prices, and iron ore prices $110 / tonne, $2 less than last week’s prices, while the prices of billets ranged between 490-530 Dollars per tonne, while it was between 500-540 dollars per …
The EU continues to invest in several EAF steelmaking projects planned or underway in Europe, often with government subsidies. They also receive funding from the European Union, which increases the expectations of growing demand for scrap under these circumstances. Most often, these projects are based on plans to decarbonize production. The investment is being combined …
In June 2023, India’s rolled product exports decreased by 21.4% annually, reaching 502,000 tonnes. This indicator is the lowest since December 2022 due to the demand slowdown in Europe and the competition increased from Asian countries. Rolled product imports into India in June increased by 7.6% year-on-year to reach 484,000 tonnes, the highest number since …
India’s steel exports fell to their lowest level in 6 months Read More »
Currency difference losses for the Egyptian Company “Ezz Steel” were exacerbated in the first quarter of this year, which incurred net losses of EGP 2.5 billion, despite a 50% increase in sales. The Company’s business results, issued today, revealed that the currency differences losses in the first quarter amounted to EGP 8.9 billion, which put …
The Minister of Industry and Mineral Resources of Saudi Arabia, Professor Bandar bin Ibrahim AlKhorayef, met in his office today with a delegation from China, headed by a member of the Standing Committee of the “Hebei” Provincial Committee and Secretary of the Tangshan Municipal Committee of the Communist Party of China Wu Weidong. The meeting …
Tata Steel Chief Executive Officer Narendran said, in a statement on July 6 that India’s Tata Steel plans to set up Electric Arc Furnace (EAF) based recycling plants in South India. He said, “The Company is already building a steel plant with a capacity of 750,000 tonnes per year in Ludhiana in northern India, which …
Tata Steel plans to build a second electric arc furnace (EAF) in South India Read More »
Sources close to the Organization of the Petroleum Exporting Countries (OPEC) said: “The organization is likely to maintain its optimism about oil demand growth for next year in its forecasts that it publishes this month,” as it believes that it will slow compared to the current year, but remains above average. Likely, that (OPEC) crude …
OPEC” .. An optimistic vision of oil demand in 2024, despite the slowdown” Read More »
Eng. Hussein Ali Yaqoub, Assistant Undersecretary for Land Transport Affairs at the Ministry of Transportation and Telecommunications, held a meeting with the Gulf Railways Authority delegation headed by Engineer Nasser bin Hamad Al-Qahtani and Abdullah bin Abdulaziz Al-Samaani, in the presence of the Ministry’s work team. The meeting is to discuss developments in the railway …
The Russian government has announced that it had extended scrap export quotas for another six months, from July 1 to December 31, 2023. A Russian manufacturer said: “This measure is a way to prevent an excessive increase in domestic prices for long steel products.” The quota for scrap exported outside the Eurasian Economic Union (EEU) …
Russia extends scrap export quotas until the end of 2023 Read More »
The Chinese government is preparing plans to include the domestic steel industry in the national carbon emissions market, just as the European Union prepares to impose an import tax on carbon emissions. ”Researchers from the Ministry of Environment and steelmakers Hebei Iron & Steel and Sinosteel Group are studying emissions related to the steel industry, …
China is preparing plans to help the steel industry to join the carbon emissions market Read More »
Iron and Steel Company for Mines and Quarries (ISMQ) announced that it had achieved EGP 33,848,733 in sales in May, explained in the Egyptian Stock Exchange statement. Bahariya Oasis mines sales amounted to EGP 33,786,769 and Bani Khaled-Samalot quarries sales value reached about EGP 61.96 thousand. Sales and production reports for February 2023 revealed that …
Egypt: Iron and Steel Company for mines’ sales amounted to EGP 33.7 million in May 2023 Read More »
According to daily iron prices follow-up in Egypt, the rebar prices ranged between EGP 32,050– 38,000, EXW. All steel companies fixed their prices compared to last week. As the following steel companies announced their prices without changing their prices. Ezz Steel EGP 32,135, Suez Steel EGP 32,050, Beshay Steel EGP 38,000, El Marakby Steel EGP …
The last update of rebar prices in Egypt is on July 04, 2023 Read More »
Industries Qatar Company, “Industries Qatar” or “the Group”, one of the largest industrial companies in the region, with activities in the production of a wide range of petrochemicals, chemical fertilizers and iron and steel products, announced that the Company’s board of directors has approved in principle the proposed acquisition offer of the entire shares of …
Ezz Steel Group announced the flat steel prices for July, unchanged for the Fifth month in a row, at 34,485 EGP per tonne, EXW, including value-added tax. Statement including VAT Flat Steel 34,485
In Tindouf, a partnership agreement was signed between the National Iron and Steel Company (FERAL) and the Chinese consortium “CMH” related to the exploitation of iron ores in the Ghar Jbeilat-Gharb mine and the valuation of its production by establishing a factory for the production of steel tiles in Bechar. This agreement was signed by …
Signing a partnership agreement between FERAL and the Chinese consortium CMH Read More »
According to China’s National Bureau of Statistics, in May this year, China’s rebar, wire coil and welded pipe output was 19.929 million tonnes, 11.63 million tonnes and 5.758 million tonnes, down by 8.8%, 13.3% and up by 9.4% year on year, respectively, while decreased by 5.55%, 6.79% and 5.67% monthly, respectively. Rebar prices declined amid …
Rebar production reached 97 million tonnes during January-May 2023 in China Read More »
SteelOrbis is excited to announce that the second gathering of SteelOrbis and IREPAS in 2023 will be held at the Swissôtel The Bosphorus on September 17-19. While gathering its members and participants together against the enchanting backdrop of the Bosphorus at the world’s number one event for long steel products and creating unique networking opportunities, the SteelOrbis and …
The world’s number one long steel market conference Read More »
According to the prices announced in the global steel markets, scrap prices reached $380/tonne, unchanged from the previous week. Iron ore reached $112/tonne, unchanged from last week too, while billets ranged between $500-540 per tonne, which were Between 504 – 550 dollars per tonne last week, and the prices of rebar between 605 – 640 …
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In May this year, Japan’s iron and steel product exports reached 3.02 million tonnes, up 13.2% month-on-month and up 0.1% year-on-year, according to customs statistics from the Japan Iron and Steel Federation (JISF). From January to May this year, Japan’s iron and steel product exports amounted to 13.79 million tonnes, down 0.5% over the same …
China Iron and Steel Association (CISA) data showed that China’s daily crude steel production of major enterprises reached 2.26 million tonnes from June 11 to 20, up 1.42% compared to the previous ten days. The pig iron average daily production was 2.02 million tonnes over the specified period, up slightly by 0.73% from the previous …
China’s daily crude steel production increased by 1.11% in mid-June 2023 Read More »
ArcelorMittal, one of the largest steel producers internationally, has announced plans to restart the blast furnace (A) at its plant in Gijon, Spain. The unit was shut down on March 22, 2023, when a fire broke out in the blast furnace during scheduled maintenance. The fire is believed to have been caused by an internal …
ArcelorMittal plans to restart its blast furnace (A) at its Gijon, Spain plant in July Read More »
Billet prices in Black Sea ports last week, from 16 to 23 June 2023, decreased by 1% compared to the previous week to $ 505-515 per tonne. Meanwhile, billet prices declined by $20 per tonne in Turkey, or 3.3%, and reached $575-580 per tonne on June 23 as activity in the market slowed down as …
A report on declining global billet prices amid economic uncertainty Read More »
The UK will maintain the anti-dumping measures on plate steel from China for another five years, stated in a message on the British Government’s website. The Government backed the Trade Remedies Authority’s (TRA) recommendation that the UK industry would suffer if the measures were lifted. In the UK, there are two producers of thick sheet …
The UK extends anti-dumping duties on thick sheet steel from China Read More »
In May 2023, the operating profit of the Chinese steel industry decreased by 20% compared to May 2022 – to reach 668.1 billion Yuan ($95.2 billion), and the index declined by 0.3% compared to April, according to data from the National Bureau of Statistics of China (NBS). The decline in industry profits was due to …
China’s steel industry profits were down 8.8% year-on-year in May Read More »
According to export data from the US Department of Commerce, US exports of wire coils totalled 7,173 mt in April 2023, down 28.5 % from March and down by 9.7 % from April 2022. By value, wire coils exports totalled $20.4 million in April, compared to $22.3 million in the previous month and $18.6 million …
The US drawn wire coils were down 28.5 % in April 2023 Read More »