According to the daily monitoring of steel prices in Egypt, the prices of rebar ranged between EGP 39,900 EGP 35,750 EXW. This week witnessed stability in the prices of of most companies, namely Ezz Steel EGP 36,000, Suez Steel EGP 36,000, Beshay Steel EGP 39,900, El Marakby Steel EGP 38,000, Ashry Steel EGP 38,000, and […]
The latest update on rebar prices in Egypt is December 11, 2023 Read More »
In the nine months of 2023, Ezz Steel recorded total profits for the period, amounting to 27.9 billion pounds. The company explained in a press statement, today, Monday. That it recorded consolidated net losses amounting to 1.9 billion pounds in the period from January until the end of September 2023, compared to profits worth 5.7
“Ezz Steel”: 1.9 billion pounds in losses in the first nine months of 2023 Read More »
Australia -based miner Rio Tinto has announced that it aims to achieve and sustain a medium-term annual capacity of 345-360 million mt from its Pilbara iron ore business, including the pre-feasibility study underway on the Rhodes Ridge project. The company also expects an annual five million mt uplift from implementing the Safe Production System at
Rio Tinto targets annual 345-360 million mt iron ore capacity in Pilbara Read More »
The Libyan Iron and Steel Company announced that it has achieved the design capacity of DRI plant in its third unit for the first time since its operation 26 years ago, and its production reaches 650 thousand tons of HBI iron, which is the design capacity of the plant. On Saturday evening, the company held
According to the prices announced in the global steel markets, scrap prices amounted to $428/ tonne, $26 up compared to last week’s prices, and iron ore prices $137/ tonne, $4 up compared to last week’s prices, while the prices of billets ranged between 505 – 610 Dollars per tonne, while it was between 495 –
Steel prices in the second week of December 2023 Read More »
Osama Amir Fadl, Assistant Undersecretary of the Ministry of Industry and Advanced Technology for the Industrial Accelerators Sector, confirmed that the Ministry launched, during the COP28 Conference of the Parties, a road map for decarbonization in the industrial sector, with the aim of reducing emissions in the sector by 93% by 2050, which would remove
UAE launches a road map to decarbonize the sector by 93% by 2050 Read More »
Bloomberg News reported that the European Union is considering reopening a case in the World Trade Organization against the United States over a dispute over steel and aluminium. Which led to the Allies imposing customs duties on goods worth more than $10 billion. The report said Friday, citing people familiar with the matter. The European
Europe is considering reviving the steel tariffs issue against the United States Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 94,964 mt in October 2023, up 71.0% from September but down 9.4% from October 2022 levels. By value, rebar imports totaled $56.5 million in October 2023, compared to $33.7 million in September and $76.6 million in October 2022. The
US rebar imports up 71.0% in October 2023, Egypt is in the lead Read More »
In October this year, Turkey’s rebar exports amounted to 283,092 metric tons, down by 30.3% compared to September and by 23.0% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $170.57 million, declining by 25.9% compared to the previous month and
Turkey’s rebar exports decrease by 43.3% in January-October Read More »
Morocco has decided to terminate safeguard measures on the imports of rebar and wire rods starting October 16, 2023. The cessation follows the completion of the safeguard measure’s full 10-year period, encompassing provisional measures, the initial application, and subsequent extensions. Morocco had implemented these safeguard measures, imposing a tariff of MAD 550 (USD 54) per
Morocco ends safeguard measures on rebar and wire rod imports Read More »
Edorao Bartolomeo, CEO of mining company Vale, said that China may be the largest buyer of iron ore in the world. But that does not mean that Beijing can succeed in setting its prices. Bartolomeo explained in an interview ahead of the company’s annual investor day that Vale is confident that the balance between supply
Vale CEO: China cannot control the price of iron ore Read More »
The Libyan Iron and Steel Company announced the prices of some products on December 5, pursuant to Resolution No. 413/2023. Product type and size The current price is D.L./tonne Retail Wholesaling Double line production skewers, diameter (8) mm, serrated 3170 3150 Double line production skewers, diameter (8) mm, smooth 3170 3150
Libyan Iron and Steel Company announces a change in the prices of some Steel products Read More »
Jordan Steel Company announced rebar prices for December, unchanged from the prices of November. The prices for Grade 60 EXW, between 432 and 440 dinars per tonne, excluding sales tax. However, with sales tax, it is between 515 and about 525 dinars per tonne. Grade Price without tax Price with tax Sales / tonnes
Jordan Steel announces rebar prices for December 2023 Read More »
In 2024, ArcelorMittal Kryvyi Rih plans to increase its production capacity utilization from 30% to 50%. This was stated by the company’s CEO Mauro Longobardo during a meeting with a German delegation, Metallurg newspaper reports. According to him, the plant is ready to increase production as soon as possible and support Ukraine in its post-war
ArcelorMittal plans to increase capacity utilization to 50% in 2024 Read More »
According to the daily monitoring of steel prices in Egypt, the prices of rebar ranged between EGP 39,900 EGP 35,750 EXW. This week witnessed stability in the prices of all companies, Ezz Steel EGP 36,000, Suez Steel EGP 36,000, Beshay Steel EGP 39,900, Egyptian Steel EGP 38,000 El Marakby Steel EGP 38,000, Ashry Steel EGP
The latest update on rebar prices in Egypt is December 04, 2023 Read More »
Ezz Steel Company announced the prices of flat steel for December, unchanged from last month’s prices. At a value of EGP 37,000 per tonne, factory delivery, including value-added tax. Statement including VAT Flat Steel 37,000
Egypt: Ezz Steel announces flat Steel prices for December without change Read More »
Steel prices in the first week of December 2023 Read More »
In October this year, Turkey’s scrap imports rose by 40.7% month on month and by 3.2% year on year to 1,491,804 mt, according to the data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the value of these imports increased by 43.1% compared to the previous month and by 0.9% year on year to $568.20
Turkey’s scrap imports down 47.9% in January-October 2023 Read More »
In October this year, Japan’s iron and steel product exports amounted to 2.7 million metric tons, increasing by 1.4 % month on month and increasing by 8.6% year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-October period this year, Japanese iron and steel product
Japan’s steel exports up 2.6% in January-October 2023 Read More »
Oil prices fell by 2.5% at the end of today’s trading, Friday, December 1, 2023, continuing to hemorrhage losses for the second day, and recording losses for the sixth week in a row. The decline in crude prices comes after the voluntary oil production cuts agreed upon by OPEC+ producers were less than market expectations.
Oil prices record weekly losses and decline 2.5% Read More »
Voting results on Tuesday showed that Riyadh won the right to host the World Expo 2030, in another diplomatic victory for a Gulf country after Qatar hosted the FIFA World Cup last year. The cities of Busan in South Korea and Rome in Italy competed with Riyadh to host the World Expo, which is held
Saudi Arabia wins hosting of Expo 2030 World Exhibition Read More »
Contributing to the UAE’s Net Zero by 2050 strategic initiative, Emirates Steel Arkan (ESA), one of the largest publicly traded steel and building materials manufacturers in the region, announced its strategic collaboration with renowned climate consulting firm A³&Co.® to drive an innovative decarbonization initiative across its Al Ain Cement Factory. The partnership, announced ahead of
At a time when the General Authority for Roads and Land Transport is studying the completion of bids for the tender work of study, design and preparation of documents for the railway project in its first phase, a government report stated that the tender No. (1 AH I/I) for the project of study work, detailed
5% of Kuwait’s share of the Gulf Railway, with a length of 111 km Read More »
South Korean steelmaker POSCO plans to complete the commercialization of its HyREX , and by 2050, switch its steel mills in Pohang and Gwangyang to steel production based entirely on hydrogen reduction technology. The company will use green hydrogen using HyREX technology to produce direct reduced iron (DRI) for electric arc furnaces. The steelmaker is
POSCO plans to produce all steel using hydrogen by 2050 Read More »
The foundation stone was laid yesterday in the Special Economic Zone in Duqm for an integrated factory project to produce green iron from hydrogen, with investments exceeding $3 billion (one billion and 158 million Omani riyals), to serve as a new start for industrial development in the Sultanate of Oman. The project implemented by Folken
According to the daily monitoring of steel prices in Egypt, the prices of rebar ranged between EGP 39,900 EGP 35,750 EXW. This week witnessed stability in the prices of all companies, Ezz Steel EGP 36,000, Suez Steel EGP 36,000, Egyptian Steel EGP 38,000 El Marakby Steel EGP 38,000, Ashry Steel EGP 38,000, and Garhy Steel
The latest update on rebar prices in Egypt is November 27, 2023 Read More »
Emirates Steel Arkan Group announced its broad participation in the work of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28). In line with the UAE’s strategic initiative to achieve climate neutrality, by 2050. Its goals are to combat climate change, reduce carbon emissions, and limit global warming. As
Emirates Steel Arkan showcases its solutions to reduce carbon at (COP28) Read More »
In September 2023, Ukrainian pipe companies produced 36.9 thousand tons of pipes, a decrease of 10.2% compared to September 2022. A decrease of 11.7% compared to August. In the period from January to September 2023, Ukraine’s pipe production increased by 5.1% compared to the same period in 2022, reaching 376.1 thousand tons. In 2022, Ukraine
Ukraine’s pipes production increased by 5.1% during January-September 2023 Read More »
Climate pioneer Mahmoud Mohieldin said that the financing plan, which relies on funding from Western donors to help developing countries switch to cleaner energy generation, can be replicated in heavy industries and other sectors where it is difficult to mitigate emissions. Mohieldin, who serves as climate lead for the Egyptian presidency of the UN Climate
Egypt’s climate envoy: International financing can help decarbonize heavy industries Read More »
Deputy Minister of Industry and Mineral Resources for Mining Affairs, Engineer Khalid bin Saleh Al-Mudaifer, confirmed that the mining strategy in the Kingdom of Saudi Arabia will enhance the increase in demand for steel in the Kingdom during the next ten years. This came during his participation in the activities of the Arab Mining Conference
Saudi Arabia mining strategy boosts steel demand for the next ten years Read More »