Rebar steel prices in the local market in the UAE declined by 11% to reach 2450 dirhams per ton in June, compared to the same period in 2022, which was approximately 2750 dirhams per ton, while prices recorded a slight increase by 3% compared to the beginning of the year, which amounted to 2380 dirhams …
Rebar steel prices in the UAE fell 11% in June to 2450 dirhams Read More »
According to daily iron prices follow-up in Egypt, the rebar prices ranged between EGP 32,050– 38,000, EXW. Most 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 latest rebar prices update in Egypt is June 27, 2023 Read More »
The Emirates Steel Arkan Group announced the adoption of a new operating model based on the establishment of two separate business units, the Emirates Steel unit and the building materials unit, with the aim of benefiting from the common strengths of the steel and building materials business. Each business unit will have a Chief Executive …
Emirates Steel Arkan establishes two business management units Read More »
According to the prices announced in the global steel markets, scrap prices amounted to 380 dollars/tonne, 8 dollars less compared to last week. Iron ore prices reached 112 dollars/tonne, 4 dollars less. As for billet prices, they ranged between 504-513 dollars per tonne, which were between 515-560 dollars per tonne last week. Rebar prices varied …
Iron and steel prices in the fourth week of June 2023 Read More »
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK), the Turkish foreign trade deficit in May of this year increased by 17.6% to $12.53 billion compared to May 2022. From January to May this year, Turkey’s foreign trade deficit increased by 29.3% yearly, to reach $56.22 billion. In May, Türkiye’s …
Türkiye’s steel exports decreased by 50.8% during the period from January to May 2023 Read More »
Oil prices fell today, Friday, at $73.47 a barrel for Brent Crude Futures contracts, and US West Texas Intermediate crude futures recorded $68.80, heading towards a weekly decline. “Recession fears are escalating again after central banks raised interest rates and hawkish Fed statements,” said CMC Markets analyst Tina Ting, adding that the dollar’s rise was …
Global oil prices fell to their lowest level in two weeks Read More »
Mr Walid Gamal El-Din, Head of the Economic Zone of the Suez Canal, and his accompanying delegation of members of the Economic Authority and a delegation of industrial developers of Sokhna and East Port Said met officials of Indian companies operating in the renewable energy and the manufacture of electric bicycles fields. Where the delegation …
Talks between Egypt and India to establish green fuel projects in the Suez Canal area Read More »
MEED magazine reported that the Al-Oula Steel Manufacturing Company has started operating a new facility for the production of rebar with a production capacity of 250,000 tonnes of rebar annually, according to sources in the industry, who revealed that the operation began last month after three years of development at a total cost of 6 …
A new line for the production of rebar in Kuwait at a cost of 6 million dinars Read More »
ENGIE, a provider of low-carbon energy service solutions, and POSCO, the largest steel maker in South Korea, announced their role in an alliance aimed at promoting renewable energy resources in Oman by developing a green ammonia project with a capacity of 1.2 million metric tons. Other partners in the alliance include Samsung Engineering, Korea East-West …
According to the preliminary data announced by the World Steel Organization about world production (63 countries) during May 2023, crude steel production amounted to 161.6 million tonnes, a decrease of 5.1% compared to the production of May 2022. Africa produced 1.3 million tonnes in May 2023, up 18.6% from May 2022. Asia and Oceania produced …
World crude steel production declined by 5.1% in May 2023 Read More »
Emirates Council for Balanced Development signed a cooperation agreement with Emirates Arkan Steel Group in the presence of Suhail Al Mazrouei, Minister of Energy and Infrastructure, Emirates Council for Balanced Development member. The agreement comes within the active contribution framework to supporting the “Emirates Villages” project, which aims to develop Emirati villages at the developmental …
Egypt’s rebar production from January to April of this year amounted to 2.216 million tonnes, a decline of 25% compared to the same period last year when it produced 2.955 million tonnes, affected by the unavailability of raw materials. Egypt’s rebar sales from January to April 2023 amounted to about 1.766 million tonnes, declining by …
According to the daily follow-up of iron prices in Egypt, rebar prices ranged between EGP 32,050 – 38,000, ex-factory. The prices varied compared to last week. As Ezz Steel Company fixed their prices at EGP 32,135, Suez Steel at EGP 32,050, Beshay Steel at EGP 38,000, El Marakby Steel at EGP 37,500, and Egyptian Steel …
The latest rebar prices update in Egypt is June 19, 2023 Read More »
In April this year, consumption of domestic steel products in Japan amounted to 3.73 million tonnes, down 4.8 per cent from March and up 8.1 per cent year on year, according to data released by the Japan Iron and Steel Association (JISF). Meanwhile, from January to April this year, the country’s domestic steel consumption fell …
Japan’s steel consumption decreased by 8.6% from January to April 2023 Read More »
The US Department of Commerce (DOC) has announced the results of its administrative review of anti-dumping (AD) duties on welded quality round carbon steel pipe from the Sultanate of Oman for the periods December 1, 2019, through November 30, 2020, and December 1, 2020, through November 30, 2021. Accordingly, the Ministry decided that Oman’s steel …
According to data provided by the Turkish Statistical Institute (TUIK).In April this year, Türkiye’s cold rolled steel coils (CRC) imports increased by 37.9% compared to April 2022. However, it decreased by 10.9% compared to last March, reaching 66,359 tonnes. The value of these imports amounted to $51.52 million, a decrease of 9.8% compared to March …
Türkiye’s cold rolled steel coils imports increased by 26.8% from January to April 2023 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to 387 dollars / tonne, less than 1 dollar compared to last week’s prices, and iron ore prices 116 dollars / tonne, an increase of 1 dollar compared to last week’s prices, while the prices of steel Billets ranged between 515-560 dollars …
Iron and steel prices in the third week of June 2023 Read More »
SMS Group and Tata Steel have signed a Memorandum of Understanding (MoU) to implement SMS Group’s innovative EASyMelt technology at Tata Steel’s high-E furnace in Jamshedpur, India. The two parties signed a Memorandum of Understanding in November 2022 to explore opportunities to decarbonize steel production as EASyMelt had been identified as a fundamental technology for …
According to the General Authority for Statistics, the average price of a tonne of rebar in the Kingdom of Saudi Arabia in May 2023 ranged between 2754.97 -4099.14 Saudi riyals, a decrease between -1.19% and -4.15% compared to April 2023, and a decrease between -14.84% and -35.27% compared to May 2022. Average prices and monthly …
Rebar prices decreased in the Kingdom of Saudi Arabia in May 2023 Read More »
In May this year, Brazilian mining company Vale’s iron ore exports amounted to 16.32 million tonnes, up 4.2% compared to April and down 11.7% compared to May 2022, according to the Brazilian National Confederation of Iron and Base Metals Extraction Industry (Sinferbase). Meanwhile, in May this year, Vale’s iron ore sales in its home market …
Vale’s iron ore exports decreased by 13.7% in January-May 2023 Read More »
Last May, China’s total production of pig iron reached 77.00 million tonnes, crude steel 90.12 million tonnes, and finished steel products 118.47 million tonnes, down by 4.8%, down by 7.3%, down by 1.3%, year on year, while down by 1.08%, and by 2.72% and by 1.23% compared to April, respectively, the National Bureau of Statistics …
China’s steel production increased from January to May 2023 Read More »
Algeria’s exports of building materials last year amounted to 12.18 million tonnes, at about a value of $1.3 billion, compared to $567 million in 2021, an increase of 56% compared to 2021. Building materials represented “Algeria’s most important non-hydrocarbon exports” during the past two years, as their share of total non-hydrocarbon exports amounted to 15% …
Algeria’s exports of building materials increased by 56% in 2022 Read More »
The Kizad Group (Khalifa Economic Zones Abu Dhabi), as the integrated centre for economic and industrial businesses in Abu Dhabi, has entered into a land lease agreement with the Spanish Tupacex Group to establish the first factory of its kind in the Middle East specialized in the development of OCTG CRA stainless steel pipe solutions. …
Last May, China exported 8.36 million tonnes of steel products, which is 5.3% more than April’s exports and 7.7% more than May 2022. The average export price in May was $922.2/tonne, lower by $175.3 compared to April and 33.1% compared to May 2022. From January to May 2023, China’s exports of steel products increased by …
China’s steel exports increased by 40.9% during the January-May 2023 period Read More »
Within the framework of its strategy to enhance sustainability, Jindal Shadeed Iron and Steel – the largest producer of iron and steel in the private sector in the Gulf Cooperation Council countries – participated in a series of pioneering initiatives aimed at reducing carbon dioxide emissions resulting from its activities. As these initiatives embody Jindal …
According to the daily follow-up of rebar prices in Egypt, rebar steel prices ranged between 32,050 EGP – 38,760 EGP, EXW, as some companies fixed their rebar prices, while some raised them compared to last week. Ezz Steel prices amounted to 32,135 EGP, Suez Steel 32,050 EGP, Beshay Steel 38,000 EGP, El Marakby Steel 37,500 …
The latest rebar prices update in Egypt is June 12, 2023 Read More »
In April this year, Türkiye’s wire rod exports amounted to 26,849 tonnes, down by 17.8% compared to March and up 72.8% year on year, according to preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the total revenue generated from these exports was $19.7 million, down 18.2% compared to March and up 77.3% year-on-year. …
Türkiye’s wire rod exports decreased by 60.2% during the January-April period Read More »
September iron ore futures, the most heavily traded on the Dalian Commodity Exchange, rose 5.7% from the previous week to 812 yuan/tonne ($114.03/tonne) for June 2-9, 2023. On the Singapore Exchange, quotations for the underlying July futures contract as of June 9, 2023, rose 8.2% compared to the price a week ago to reach $112.65/tonne. …
Iron ore prices rose for the second week in a row Read More »
According to export data from the US Department of Commerce, monthly steel exports in April 2023 decreased by 13.3% compared to March, reaching 696,932 tonnes, and decreased by 7.4% compared to April 2022. In terms of value, US steel exports totalled $1.24 billion in April, compared to $1.43 billion in March and $1.39 million in …
According to the prices announced in the global steel markets, scrap prices amounted to 388 dollars / tonne, an increase of 3 dollars compared to last week’s prices, and iron ore prices 115 dollars / tonne, an increase of 8 dollars compared to last week’s prices, while the prices of Billets ranged between 510 – 550 …
Iron and steel prices in the second week of June 2023 Read More »