mtaha, Author at Arab Iron and Steel Union

Iron ore prices consolidate their gains and exceed the level of $140 per ton

Iron ore futures prices consolidated their gains during Tuesday trading to exceed the level of 140 per ton, with China’s steel production towards recording its first annual increase in about 3 performance. Last week’s data continued that China’s steel production increased by 3.8% in November compared to the previous month, from one ton to 76.1

Iron ore prices consolidate their gains and exceed the level of $140 per ton Read More »

The latest update on rebar prices in Egypt is December 25, 2023

News / mtaha

According to the daily monitoring of steel prices in Egypt, the prices of rebar ranged between EGP 37,000 EGP 40,800 EXW. This week witnessed an increase in the prices of most companies, Suez Steel from EGP 36,000 to EGP 38,500 , El Marakby Steel from EGP 38,000 to EGP 39,750 , Egyptian Steel from EGP

The latest update on rebar prices in Egypt is December 25, 2023 Read More »

Egypt’s import of raw materials of iron, steel and iron ore decreased by 25.5% in January-September 2023

News / mtaha

Foreign trade data showed that Egypt’s imports of raw materials of iron, steel, iron ore and their concentrates in January-September 2023 amounted to $4.163 billion, a decline of 25.5% compared to the same period in 2022, which amounted to $5.589 billion. The value of Egypt’s imports of iron or steel raw materials declined to reach

Egypt’s import of raw materials of iron, steel and iron ore decreased by 25.5% in January-September 2023 Read More »

Rebar prices in the UAE rise by 92 dirhams in January

News / mtaha

The UAE rebar market is expected to witness a rise in rebar prices, supported by rising demand and an upward trend in raw materials. As the largest local steel producer clarified its price policy for the month of January, the prices of rebar for the month of January will be as follows: 2,689 UAE dirhams/ton

Rebar prices in the UAE rise by 92 dirhams in January Read More »

Expectations for steel demand in China to slow in 2023 and 2024, affected by the construction sector

News / mtaha

The world’s largest steel producer will consume 890 million tons this year, leaving it with a large surplus, officials at the China Mineral Industry Planning and Research Institute said at a press conference. Official data showed last week that China produced 952.14 million tons of crude steel in the first eleven months of 2023, an

Expectations for steel demand in China to slow in 2023 and 2024, affected by the construction sector Read More »

Steel prices in the fourth week of December 2023

News / mtaha

According to the prices announced in the global steel markets, scrap prices amounted to $424/ tonne, $2 down compared to last week’s prices, and iron ore prices $139/ tonne, $5 up compared to last week’s prices, while the prices of billets ranged between 505 – 540 Dollars per tonne, while it was between 515 –

Steel prices in the fourth week of December 2023 Read More »

Oil prices jump 4% in a week…a likely supply gap next January

News / mtaha

Oil prices rose as much as 1 percent yesterday as tensions continued in the Middle East. During yesterday’s trading, Brent crude futures rose 86 cents, or 1.1 percent, to $80.25 per barrel. US West Texas Intermediate crude futures also rose 81 cents, or 1.1 percent, to $74.70 per barrel. Both benchmarks rose more than 4

Oil prices jump 4% in a week…a likely supply gap next January Read More »

China changes tariff codes for HRC, CRC and coated steel,export tax rebates awaited

News / mtaha

Tariff Commission of the State Council of China’s State Council announced on December 21 that it further defines the tariff code for the high value-added steel. Accordingly, five subclassifications have been inserted in categories—hot rolled coil (7208.5120), hot rolled coil (7208.5190), cold rolled coil (7209.1690), cold rolled coil (7209.1790) and coated (coated) coil (7210.4900), which

China changes tariff codes for HRC, CRC and coated steel,export tax rebates awaited Read More »

World crude steel production increased by 3.3% in November 2023

News, steel Statistics / mtaha

World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 145.5 million tonnes (Mt) in November 2023, a 3.3% increase compared to November 2022. Africa produced 1.8 Mt in November 2023, up 3.1% on November 2022. Asia and Oceania produced 104.8 Mt, up 2.2%. The EU (27) produced 10.6

World crude steel production increased by 3.3% in November 2023 Read More »

A shareholder reduces his stake in Ezz Steel’s capital by 374.84 million pounds

News / mtaha

Mubasher Securities and Bonds Trading Company said that shareholder Jamal Abdul Qader Abdul Basir reduced his stake in the capital of Ezz Steel Company from 5.85% to 4.99%. The company explained in a statement today, Thursday, that Gamal Abdel Qader sold 4.67 million shares of Ezz Steel, with a total value of the deal amounting

A shareholder reduces his stake in Ezz Steel’s capital by 374.84 million pounds Read More »

China’s iron ore output up 7.1% in January-November 2023

News / mtaha

In November alone, China’s iron ore production totaled 85.568 million mt, increasing by 6.6% year on year, while decreasing by 1.1% month on month, according to China’s National Bureau of Statistics (NBS). Import iron ore prices have seen an overall upward trend until November 22, while moving down in late November. When entering in December,

China’s iron ore output up 7.1% in January-November 2023 Read More »

Ukraine: The cost of Metinvest Group’s green steel transformation is approximately $9 billion

News / mtaha

The green transformation of Metinvest Group’s Ukrainian assets could cost about $9 billion. Yuriy Ryzhenkov, CEO of Metinvest, told Forbes in an interview. At the same time, he noted that Ukraine has already lost at least two years to start this process due to the war. According to the Group’s CEO, the implementation of the

Ukraine: The cost of Metinvest Group’s green steel transformation is approximately $9 billion Read More »

European-American agreement to extend the suspension of duties imposed on steel and aluminum

News / mtaha

The European Union announced an agreement with the United States extending the suspension of special customs duties on steel and aluminum products until March 2025. This step aims to avoid further escalation in a long-term trade dispute with the United States that arose under the administration of former US President Donald Trump. The European Commission

European-American agreement to extend the suspension of duties imposed on steel and aluminum Read More »

Egypt signs a huge agreement with a Saudi company worth $4 billion

News / mtaha

Egyptian bodies signed an agreement with the Saudi company “CoPower” to develop a green hydrogen project, with investments exceeding $4 billion, in the Suez Canal Economic Zone. The signing was made between the Sovereign Fund of Egypt, the Suez Canal Economic Authority, the Egyptian Electricity Transmission Company, the New and Renewable Energy Development and Utilization

Egypt signs a huge agreement with a Saudi company worth $4 billion Read More »

Britain intends to implement carbon duties on imports by 2027

News / mtaha

The British government announced that it intends to implement a new mechanism for pricing carbon imports by 2027, whereby fees will be imposed on goods imported from countries that do not impose carbon fees or impose lower fees, as part of efforts to eliminate carbon emissions. The government said the carbon limits adjustment mechanism will

Britain intends to implement carbon duties on imports by 2027 Read More »

China’s rebar output down 2.2% in January-November 2023

News / mtaha

In November alone, China’s rebar, wire rod and welded pipe outputs amounted to 18.01 million mt, 11.108 million mt and 5.657 million mt, down 8.8% , up 3.1% and up 11.0% year on year, while down 1.32% , up 0.61% and up 2.32% month on month, respectively, according to China’s National Bureau of Statistics (NBS).

China’s rebar output down 2.2% in January-November 2023 Read More »

“Nippon Steel” acquires the American steel giant “US Steel” for $14 billion

News / mtaha

US Steel has agreed to be bought by Nippon Steel, Japan’s largest steelmaker, in a $14.1 billion deal. The deal marks the latest step in a gradual decline for the iconic 122-year old company, which was once the largest company on the world. It was one of the first major conglomerates and a symbol of

“Nippon Steel” acquires the American steel giant “US Steel” for $14 billion Read More »

Ukraine’s exports of flat steel increased by 26% in November

News / mtaha

In November 2023, Ukraine’s exports of flat steel increased by 25.7% compared to October 2023, reaching 130.4 thousand tons and rose 2.3 times compared to November 2022, according to data from the State Customs Service. In terms of value, exports of these products increased by 21.2% on a monthly basis to reach $76.2 million and

Ukraine’s exports of flat steel increased by 26% in November Read More »

Egypt: Ezz Steel announces new prices for flat steel

News / mtaha

Ezz Steel Company announced the prices of flat steel to reach EGP 39,500 per ton, an increase of EGP 2,500 compared to the prices of the beginning of this month, EXW, including value-added tax. Statement including VAT Flat Steel 39,500

Egypt: Ezz Steel announces new prices for flat steel Read More »

The latest update on rebar prices in Egypt is December 17, 2023

News / mtaha

According to the daily monitoring of steel prices in Egypt, the prices of rebar ranged between EGP 40,900 EGP 36,000 EXW. This week witnessed an increase in the prices of most companies, Ezz Steel from EGP 36,000 to EGP 38,500 , Beshay Steel from EGP 39,900 to EGP 40,800 , Al-Garhy Steel from EGP 35,750

The latest update on rebar prices in Egypt is December 17, 2023 Read More »

Condolences on the death of the Emir of the State of Kuwait, Sheikh Nawaf Al-Jaber Al-Sabah

News / mtaha

Condolence In the name of God, the most gracious, the most merciful His Excellency Mr. Awaad Al-Khalidi Chairman of Kuwait Steel Company Chairman of the Board of Directors of the Arab Iron and Steel Union It is with great sadness and sadness that we received the news of the death of the late His Excellency

Condolences on the death of the Emir of the State of Kuwait, Sheikh Nawaf Al-Jaber Al-Sabah Read More »

Steel prices in the third week of December 2023

News / mtaha

According to the prices announced in the global steel markets, scrap prices amounted to $426/ tonne, $2 down compared to last week’s prices, and iron ore prices $134/ tonne, $3 down compared to last week’s prices, while the prices of billets ranged between 515 – 550 Dollars per tonne, while it was between 505 –

Steel prices in the third week of December 2023 Read More »

US wire rod imports up 80.7 percent in October , Algeria is in the lead

News / mtaha

According to final census data from the US Department of Commerce, US imports of wire rod totaled 88,979 mt in October 2023, up 80.7% from September and up 39.5% from October 2022 levels. By value, wire rod imports totaled $73.9 million in October 2023, compared to $47.8 million in September and $75.3 million in October

US wire rod imports up 80.7 percent in October , Algeria is in the lead Read More »

Morocco: Sonasid obtains EPD certification for long steel products

News / mtaha

Sonasid Group, the leading national steel company, has obtained the International Environmental Product Declaration (EPD) certificate for its long steel products (rebar and wire rod), thus becoming the first producer of long steel products in Morocco to obtain this certificate. “A certificate confirms the group’s position as a leading African company in the production of

Morocco: Sonasid obtains EPD certification for long steel products Read More »

China to accelerate decommissioning of obsolete steel capacities

News / mtaha

China’s State Council recently published an action plan to improve the country’s air quality as part of its efforts to promote quality economic development. In particular, it refers to the need to accelerate the elimination of old facilities in key industries, including steel. According to the plan, by 2025, the density of suspended particulate matter

China to accelerate decommissioning of obsolete steel capacities Read More »

Egypt: 28.3 million pounds in iron and steel sales to mines in October

News / mtaha

The Iron and Steel Company for Mines and Quarries announced that it achieved total sales in last October amounting to 28.29 million pounds. The company explained, in a statement to the Egyptian Stock Exchange, that sales of Bahariya Oasis mines in September amounted to 28.23 million pounds. She added that the sales value of the

Egypt: 28.3 million pounds in iron and steel sales to mines in October Read More »

Egypt: Continuing the export duty on scrap steel and raising it to 6,000 pounds per ton

News / mtaha

Engineer Ahmed Samir, Minister of Trade and Industry, decided to continue implementing Ministerial Resolution No. 605 of 2022 regarding imposing an export duty on a type of scrap and waste from stainless steel alloys, customs item (7204.21). The second article of the decision stipulated amending the export fee imposed in the previous decision, to be

Egypt: Continuing the export duty on scrap steel and raising it to 6,000 pounds per ton Read More »

Algeria: Extracting more than 250 thousand tons of iron ore from the Gara Jbeilat mine

News / mtaha

Algiers, Assistant Director General of the National Iron and Steel Corporation (FERAL), Belhadj Reda, confirmed that between 2022 and 2023, more than 250 thousand tons of iron ore were extracted from the Gara Jbeilat mine. Mr. Belhadj explained, in a press interview with Algerian Radio Channel 1, that about a quarter of a million tons

Algeria: Extracting more than 250 thousand tons of iron ore from the Gara Jbeilat mine Read More »

Saudi Arabia: A significant increase in iron demand

News / mtaha

Khaled Al-Mudaifer, Deputy Minister of Industry and Mineral Resources for Mining Affairs in the Kingdom of Saudi Arabia, said that iron in the Kingdom is witnessing a very large increase in demand due to the major projects the Kingdom is witnessing with a value of more than 5 trillion riyals, indicating that the demand for

Saudi Arabia: A significant increase in iron demand Read More »

UAE: Research on green steel production in Khalifa Industrial City

News / mtaha

Liberty Steel, a global steel producer, signed a memorandum of understanding with Abu Dhabi Ports Group to develop solutions to import high-quality magnetite iron ore from Australia to the United Arab Emirates. The agreement would play an important role in decarbonising international iron and steel production by combining Liberty’s access to 4 billion tonnes of

UAE: Research on green steel production in Khalifa Industrial City Read More »

mtaha

Iron ore prices consolidate their gains and exceed the level of $140 per ton

The latest update on rebar prices in Egypt is December 25, 2023

Egypt’s import of raw materials of iron, steel and iron ore decreased by 25.5% in January-September 2023

Rebar prices in the UAE rise by 92 dirhams in January

Expectations for steel demand in China to slow in 2023 and 2024, affected by the construction sector

Steel prices in the fourth week of December 2023

Oil prices jump 4% in a week…a likely supply gap next January

China changes tariff codes for HRC, CRC and coated steel,export tax rebates awaited

World crude steel production increased by 3.3% in November 2023

A shareholder reduces his stake in Ezz Steel’s capital by 374.84 million pounds

China’s iron ore output up 7.1% in January-November 2023

Ukraine: The cost of Metinvest Group’s green steel transformation is approximately $9 billion

European-American agreement to extend the suspension of duties imposed on steel and aluminum

Egypt signs a huge agreement with a Saudi company worth $4 billion

Britain intends to implement carbon duties on imports by 2027

China’s rebar output down 2.2% in January-November 2023

“Nippon Steel” acquires the American steel giant “US Steel” for $14 billion

Ukraine’s exports of flat steel increased by 26% in November

Egypt: Ezz Steel announces new prices for flat steel

The latest update on rebar prices in Egypt is December 17, 2023

Condolences on the death of the Emir of the State of Kuwait, Sheikh Nawaf Al-Jaber Al-Sabah

Steel prices in the third week of December 2023

US wire rod imports up 80.7 percent in October , Algeria is in the lead

Morocco: Sonasid obtains EPD certification for long steel products

China to accelerate decommissioning of obsolete steel capacities

Egypt: 28.3 million pounds in iron and steel sales to mines in October

Egypt: Continuing the export duty on scrap steel and raising it to 6,000 pounds per ton

Algeria: Extracting more than 250 thousand tons of iron ore from the Gara Jbeilat mine

Saudi Arabia: A significant increase in iron demand

UAE: Research on green steel production in Khalifa Industrial City

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