Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 44,800 – EGP 54,000. The prices were as follows: Ezz Steel EGP 46,500, Suez Steel EGP 53,520, Bishay Steel EGP 54,000, El Marakby Steel EGP 53,520, Egyptian Steel EGP 49,920 , Ashry Steel EGP 53,000, Garhy Steel EGP 46,300, Misr Steel EGP …
The Egyptian government is evaluating a proposal made by Italian plantmaker Danieli to build an integrated green iron and steel complex, entailing an investment of $4 billion, according to the statement released by the country’s cabinet of ministers. The government estimates that the proposed project could attract $2-3 billion worth of investments to create a …
Egypt considers establish an iron and steel complex worth $4 billion by Danieli Read More »
Ezz Steel Company announced the prices of rebar starting from February 28, 2024, to become EGP 46,500 per ton, aa decrease of EGP 7,020. And flat steel, EGP 50,340 per ton, a decrease of EGP 7,000 compared to yesterday price over EXW, including value-added tax. Statement including VAT Rebar 46,500 Flat Steel 50,340
Iron ore prices fell during Monday’s trading, as investors’ hopes for a recovery in Chinese steel demand after the end of the Lunar New Year holiday faded. Iron ore futures prices traded in Singapore fell by 3.5% to $115.90 per ton after touching their lowest level since October 27 earlier in the session, with the …
Iron ore prices fall to their lowest levels in 4 months with weak demand in China Read More »
Scrap exports from the EU in 2023 rose by 7% year-on-year to 18.53 million tons compared to 2022. Exports in 2022 saw a decline of 10% year-on-year for the first time after an upward trend of more than 6 years. In December 2023, EU scrap exports totaled 1.61 million tons, up 41% from December 2022, …
EU scrap exports rise by 7% in 2023 and Egypt ranks third Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 47,300 – EGP 54,000. The prices were as follows: Ezz Steel EGP 53,520, Suez Steel EGP 53,520, Bishay Steel EGP 54,000, El Marakby Steel EGP 53,520, Egyptian Steel EGP 49,920 , Ashry Steel EGP 53,000, Garhy Steel EGP 47,300, Misr Steel EGP …
Egypt has announced a large UAE-backed investment in Egypt for the development of a large stretch of the country’s Mediterranean coast, which is expected to benefit the country greatly. In the long run, Egypt is expected to receive additional funds from the increased inflow of tourists, apart from the creation of jobs and higher budget …
$35 billion UAE investment in Egypt to boost local steel demand in mid-term Read More »
Brazilian mining company Vale recorded net profits of $8.105 billion for 2023, compared to $18.870 billion for 2022. On the same comparative basis, net sales revenue decreased 4.7% to $41.78 billion, and gross profit decreased 10.7% to $17.69 billion. Operating profit decreased by 17.5%, to $14.21 billion. The company said that the decline in performance …
Vale’s net profit declines to $8.105 billion in 2023 Read More »
Emirates Steel Arkan has decided to keep rebar prices unchanged for March production. The company is offering rebar (10-40 mm) at AED 2,744 (USD 747) per ton CPT Abu Dhabi and AED 2,752 (USD 749) per ton CPT Dubai, Sharjah, and the Northern Emirates. The decision to keep prices steady is believed to be influenced …
Emirates Steel Arkan keeps rebar prices stable for March Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $411/ tonne, $6 down compared to last week’s prices, and iron ore prices $121/ tonne, $9 down compared to lastt week’s prices. While the prices of billets ranged between 515– 600 Dollars per tonne, while it was between 510 – 600 …
Steel prices in the fourth week of February 2024 Read More »
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 148.1 million tonnes (Mt) in January 2024, a 1.6% decrease compared to January 2023. Crude steel production by region Area Jan 2024 (Mt) % change Jan 24/23 Jan-Jan 2024 (Mt) % change 24/23 Africa 2.0 16.3 2.0 16.3 Asia …
The governor of the Russian Lipetsk region, Igor Artamonov, said on Saturday that a fire broke out at the main factory of the Russian steelmaker NLMK, on the second anniversary of the war in Ukraine. The governor added that preliminary data indicate that the fire that broke out at the Novolipetsk steel plant was caused …
A fire breaks out in a Russian steel factory on the second anniversary of the war Read More »
According to data collected from the Arab Iron and Steel Union, Egypt’s production of rebar in 2023 declined by 4.1% compared to production in 2022, reaching 8.045 million tons, as the first half of 2023 witnessed a decline of 19.6% compared to the same period in 2022, while the second half witnessed an improvement. By …
Production and sales of rebar in Egypt declined and its prices rose Read More »
Following COP28 commitment and contributing to the UAE First Long-Term Strategy (LTS) demonstrating commitment to Net Zero by 2050, Emirates Steel Arkan (ESA), one of the largest publicly traded steel and building materials manufacturers in the region, announced its strategic collaboration with MAGSORT, a Finnish decarbonization company, to drive an innovative initiative across its Al …
Emirates Steel Arkan cooperates with the Finnish Magsworthto Reduce CO2 emissions Read More »
Australian mining company BHP Billiton has announced its financial results for the first half ended December 31 of the financial year 2023-24. Accordingly, BHP Billiton has posted a net profit of US$1.7 billion for the first half of the financial year 2023-24, down from a net profit of US$7.12 billion in the corresponding period of …
BHP Billiton posts a net profit of $1.7 billion for H1 FY 2023-24 Read More »
The Egyptian Algioshy Steel Group announced the completion of its acquisition of the Arabian Steel Industries Company, which is headquartered in the Suez Canal Economic Zone in Ain Sokhna. Algioshy Group said in a statement that a new board of directors for Arabian Steel Company is scheduled to be formed within days, headed by Tarek …
Egypt: “Algioshy Steel” acquires “Arabian Steel Industries” Read More »
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 49,920 – EGP 54,000. The prices were as follows: Ezz Steel EGP 53,520, Suez Steel EGP 53,520, Bishay Steel EGP 54,000, El Marakby Steel EGP 53,520, Egyptian Steel EGP 49,920 , Ashry Steel EGP 53,000, Garhy Steel EGP 53,300, Misr Steel EGP …
Ezz Steel Company announced the prices of rebar starting from February 21, 2024, to become EGP 53,520 per ton, an increase of EGP 3,600. And flat steel, EGP 57,340 per ton, a decrease of EGP 3,600 compared to the prices of the first of February, price over EXW, including value-added tax. Statement including VAT Rebar …
Egypt: Ezz Steel announces the prices of rebar and flat steel Read More »
The Board of Directors of the Iron and Steel Company for Mines and Quarries approved the estimated budget for the next fiscal year 2024-2025. The company said in a statement to the Egyptian Stock Exchange. It aims to achieve a net profit after taxes of about 447.9 million pounds during the next fiscal year. It …
Egypt: Iron and Steel Mines targets 447.9 million pounds in profits during 2024-2025 Read More »
The Moroccan Ministry of Industry and Trade revealed duty-free quotas for cold-rolled and coated steel products. You do not have permission to access the content If you have a valid account on the site, Login | or Signup Username Password Login Types of packages Free Users Site Member AISU Members Members Members 🟢 🟢 🟢 …
Morocco announces duty-free quotas for cold rolled and coated steel imports in 2024 Read More »
Shares of global mining companies listed on the London Stock Exchange fell during trading on Tuesday, amid concerns about weak growth in China and with iron ore prices falling to their lowest levels in three months. Standard iron ore futures in Singapore fell by 5.15% to $120.85 per ton, at 06:48 pm Mecca time, the …
Mining stocks decline in London and iron ore declines amid concerns about China Read More »
Australian steelmaker BlueScope Steel has posted a net profit of A$439.3 million ($287.41 million) for the first half ended December 31 of the financial year 2023-24, compared to a net profit of A$598.9 million in the first half of the previous financial year. The company attributed the decrease in its net profit to the lower …
Australia’s BlueScope posts lower profit for H1 FY 2023-24 Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Kingdom of Saudi Arabia was recorded in January 2024. You do not have permission to access the content If you have a valid account on the site, Login | or Signup Username Password Login Types of packages Free …
Rebar prices in Egypt witnessed stability this week, as prices ranged between EGP 49,000 – EGP 54,000. The prices were as follows: Ezz Steel EGP 49,920, Suez Steel EGP 49,920, Bishay Steel EGP 54,000, El Marakby Steel EGP 49,920, Egyptian Steel EGP 49,920 , Ashry Steel EGP 49,500, Garhy Steel EGP 49,750, Misr Steel EGP …
The latest rebar prices update in Egypt, February 18, 2024 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $417/ tonne, $2 down compared to last week’s prices, and iron ore prices $130/ tonne, unchanged from last week’s prices. While the prices of billets ranged between 510 – 600 Dollars per tonne, while it was between 515 – 600 dollars …
In 2023, Qatar Steel’s sales volume reached nearly 2 million tons of various products, an increase of 15.2% year-on-year, according to official information.
Tenaris, a company specialized in manufacturing and supplying steel pipes, opened a new industrial complex in Abu Dhabi under the name Etihad Pipes, with an investment of 220 million dirhams. The new industrial complex was established under a long-term partnership between ADNOC and Tenaris. The new complex has an area of 200,000 square meters and …
Saeed Ghumran Al Rumaithi, CEO of Emirates Steel Group Arkan, confirmed that the UAE is considered one of the few countries recording growth in demand for iron in light of the current global circumstances, indicating the company’s keenness to stabilize iron prices in the local market. Al-Rumaithi explained that the local market recorded an increase …
CEO of Emirates Steel Group, Arkan: Emirates Steel’s share is between 60-65% Read More »
Emirates Arkan Steel announced an 18% growth in net profits to 601.9 million dirhams, compared to net profits of 510.2 million dirhams in 2022. These positive results reflect the strong demand from local and international customers for value-added products, the continuous improvement in the revenues and profits of the building materials unit, as well as …
In 2023, Turkey’s rebar exports declined by 37.7% compared to 2022, reaching 3.39 million tons. This is based on preliminary data issued by the Turkish Statistical Institute (TUIK). In December 2023, Turkey exported 335.36 thousand tons of rebar, an increase of 19.9% compared to November, and 23% compared to December 2022. Rebar export revenues decreased …