Arab Iron and Steel Union participated in the opening session, of the 115th regular session of the “Arab Economic Unity Council” at the ministerial level at the headquarters of the League of Arab States in Cairo. The Secretary-General of the Council, Ambassador Muhammadi Ahmed Al -Ni, confirmed, “The effort and joining everyone must be made …
China Iron and Steel Association (CISA) announced that in late May (May 21-31) this year, the total average daily raw steel production of large and medium-sized steel enterprises in China was 2.0954 million tons, down 6.68% compared to mid-May (11 -20 May) this year. In mid-May this year, the average total daily crude steel production …
China’s daily steel production fell by 6.68% in late May Read More »
SMS Group has successfully upgraded the existing automation system at ArcelorMittal’s hot-rolling unit in Tubarao, Brazil. The unit, which had been in operation for twenty years had been retrofitted by another supplier where extensive preparation and close collaboration between the parties involved made it possible to upgrade during regular annual shutdowns without the need for …
The extraordinary general assembly of Yamamah Steel Industries Company (Al Yamamah Steel) approved, during its meeting yesterday, Wednesday, to transfer an amount of 60 million riyals from the statutory reserve account as of March 31, 2023, to the retained earnings account. The company added, according to a statement it made today, Thursday, on “Saudi Tadawul”, …
The General Assembly of Watani Steel Company for Iron and Steel, listed in the parallel market, approved the recommendation of the Board of Directors to increase the company’s capital by 50% by granting bonus shares to shareholders by granting one share for every two shares owned, as shown in the following table: Current capital 121.10 …
The Arab Iron and Steel Union participated in the AIST MENA Iron and Steel Technology Conference, organized by the AIST MENA Iron and Steel Technology Association from 6-7 June 2023. The Union also participated as the only Arab media partner, believing in its societal role in supporting the iron and steel industry in all fields. …
Customs data showed that China’s imports of iron ore increased by 3.95% in May compared to May 2022, as the relative increase in production led to continued demand for components of the steel industry. The General Administration of Customs said that the imports of (China), the largest consumer of iron ore in the world, amounted …
China’s iron ore imports increased by 7.7% in January-May 2023 Read More »
Abu Dhabi Future Energy Company “Masdar” and its consortium of partners, including “Infinity Power”, the largest renewable energy company in Africa, “Hassan Allam Utilities”, specializes in sustainable infrastructure investments, announced the signing of an agreement with the “New and Renewable Energy Authority” in Egypt. The aim is to provide a plot of land designated for …
An agreement between Egypt and the UAE to establish a wind energy project at $10 billion Read More »
Scrap prices continued to recover in main markets last week as consumers showed buying interest after a long abstention period from new contracts. Activity in the Turkish market remains low, but it is sufficient for a slight price increase.
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 reduced 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 05, 2023 Read More »
The Government of Great Britain (UK) has accepted the recommendation of the UK Trade Remedies Authority (TRA) to extend the suspension of anti-dumping measures on flat steel and hot rolled steel coils imports from Ukraine for another 12 months. This was stated in the message on the British government website. Anti-dumping duties on the import …
In April 2023, Turkish scrap imports decreased by 19.5% compared to April 2022, reaching 1.74 million tonnes, according to data from the Turkish Statistical Institute (TUIK). In April 2023, the average scrap price was $441 per tonne, compared to $548 per tonne in April 2022 and $426 per tonne in March 2023. The Netherlands was …
Türkiye’s scrap imports declined by 19.5% in April Read More »
Jordan Steel Company announced the rebar steel prices for June for the 60-gauge steel on EXW, between 430 and 450 dinars per tonne without sales tax and between 500 and about 520 dinars per tonne with tax Grade Price without tax Price with tax Sales / tonnes Sales / tonnes Min Max Min Max …
Jordan Steel announces rebar prices for June 2023 Read More »
Ali Ahmadi, Executive Director of the Qatar Steel Industries Factory, said that the factory has succeeded in strengthening its presence in the Qatari market with the support of its distinguished products, advanced technology, sources of high-quality raw materials, maintaining the best services to customers and strengthening the strong distribution network. Ahmadi revealed that the factory …
Qatar Steel Industries Factory strengthens its presence locally Read More »
The Iron and Steel Company for Mines and Quarries announced that it achieved total sales in April, amounting to 30.11 million pounds. The company stated, in a statement to the Egyptian Stock Exchange, today, that the sales of Bahariya Oasis mines in March amounted to 30.07 million pounds. The company added that the sales value …
Egypt: 30.1 million pounds of iron and steel sales to mines in April Read More »
The Emirates Arkan Steel Group signed a memorandum of understanding with the Department of Economic Development in Abu Dhabi and the Japanese Company Itochu Corporation to conduct the necessary studies to establish an integrated Complex for low-carbon iron production in Abu Dhabi. The new Complex, which Emirates Steel Arkan intends to develop in partnership with …
UAE: Establishment of a low-emission iron production complex in Abu Dhabi Read More »
According to the prices announced in the global steel markets, scrap prices reached 385 dollars/tonne, unchanged from last week’s, and iron ore prices were 107 dollars/tonne, an increase of 5 dollars over the previous weeks. Billets prices ranged between 515 – 555 dollars per tonne, which were between 520 – 565 dollars per tonne last …
Iron and steel prices in the first week of June 2023 Read More »
Crude oil prices rose today, Friday, June 2, to continue the gains achieved in the previous session; The approval of raising the US debt ceiling, and the possibility of the Federal Reserve stopping raising interest rates contributed to calming market concerns, in addition to the possibility of reducing OPEC + production during the weekend, which …
Crude oil prices continue their gains, and Brent crude is above $75 a barrel Read More »
The government studied during its weekly meeting today, Wednesday, headed by Prime Minister Ayman Ben Abderrahman, a preliminary draft law regulating mining activities presented by the Minister of Energy and Mines. According to a statement of interests of the Prime Minister. The same source adds this draft text aims to revive the mining sector and …
The Moroccan Ministry of Industry and Commerce announced the protective duties extension on hot-rolled steel imports. The decision came after a review investigation that started on January 26, 2023, at the request of the Moroccan Steel Company, the sole flat steel producer.
Within the framework of the objectives of the Arab Iron and Steel Union, interest in human development and raising the administrative, organizational and technological skills of engineers and technicians in the field of iron and steel, AISU trained a group of engineers and technicians at Sulb Company , in “Direct Reduction Technology” training program the …
According to the daily follow-up of rebar prices in Egypt, rebar steel prices ranged between 32,050 EGP – 39,500 EGP, EXW, as some companies fixed their rebar prices, while some reduced 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 01, 2023 Read More »
The EU could go from exporter to importer of scrap in as little as five years as steelmakers globally convert to electric arc furnaces (EAFs), and competition for scrap material will intensify.
Within the framework of the objectives of the Arab Iron and Steel Union, to cooperate with scientific unions and societies, and similar Arab and foreign organizations, it was agreed between the AISU and the Association of Iron and Steel Technology AIST MENA on media participation between the two sides as a first step to expand …
The financial statements of Misr National Steel Company – Ataqa, during the first quarter of this year, showed an increase in the Company’s profits by 89.5% on an annual basis. The Company stated to the Egyptian Stock Exchange today that it achieved profits of 128.81 million EGP from January to the end of March 2023, …
Egypt National Steel profits- Ataqa jumped to 129 million EGP during the first quarter Read More »
According to the daily follow-up of rebar prices in Egypt, rebar steel prices ranged between 32,050 EGP – 39,500 EGP, EXW, as some companies fixed their rebar prices, while some reduced 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 May 30, 2023 Read More »
The Investment Forum in Special Economic Zones announced new investments of more than 27 billion riyals in partnership with the Saudi program to attract regional headquarters for international companies. From his side, Mohammed Al-Jadaan, Minister of Finance, revealed the provision of various tax incentives for investors in the economic zones and work on tax cuts …
The overall market outlook continues to disappoint amid the seasonal slowdown in construction in China over the summer. September iron ore futures, the most heavily traded on the Dalian Commodity Exchange, for the period from May 19 to May 26, 2023, fell 9.6% from the previous week – to reach 665.5 Yuan/tonne ($96.28/tonne).
The Complex of the Algerian Qatari Steel Company (AQS) in Bellara, Jijel Province, aims to exceed $300 million in exports in 2023 against $160 million in 2022. In the first quarter of this year, the Company exported about $200 million. The Company Director of communications and public relations, Mouloud Louâil, explained in statements to the …
Algerian Qatari Steel targets exports of more than $300 million in 2023 Read More »
According to preliminary statistics data from the US Department of Commerce, the US monthly steel imports in April 2023 decreased by 9.4% compared to March and by 13.3% compared to April last year, reaching 2,150,544 tonnes. In terms of value, steel imports to the United States totalled $3.23 billion in April, compared to $3.18 billion …