The US-EU trade meeting scheduled for next month is expected to be postponed until early next year, as the two allies remain deadlocked in talks over steel and critical metals, according to a report. According to Bloomberg, citing sources familiar with the matter, the Trade and Technology Council was scheduled to meet last month, but …
According to the prices announced in the global steel markets, scrap prices amounted to $390/ tonne, $7 up compared to last week’s prices, and iron ore prices $135/ tonne, $5 up compared to last week’s prices, while the prices of billets ranged between 495 – 520 Dollars per tonne, while it was between 490 – …
Steel prices in the fourth week of November 2023 Read More »
It is estimated that the economies of the Gulf Cooperation Council region will grow by 1% in 2023. Before rising again to record 3.6 and 3.7% in 2024 and 2025, respectively. According to the latest release of the World Bank’s report on the latest economic developments in the Gulf region. This year’s weak performance is …
World Bank: Economic diversification efforts are bearing fruit in GCC Read More »
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 150.0 million tonnes (Mt) in October 2023, a 0.6% increase compared to October 2022. Africa produced 1.9 Mt in October 2023, up 3.5% on October 2022. Asia and Oceania produced 108.8 Mt, up 0.8%. The EU (27) produced 10.6 …
World crude steel production increased by 0.6% in October 2023 Read More »
Tosyali Algeria intends to launch a line for the production of flat steel in the second half of 2024, according to a statement by the Ministry of Industry and Pharmaceutical Production in Algeria. The announcement was made during a meeting granted by the Minister for the sector, Ali Aoun, to the CEO of the Tosyali …
Algeria: Tosyali flat steel production line will enter into operation in H2 2024 Read More »
Abu Dhabi Future Energy Company PJSC – Masdar, one of the world’s leading renewable energy companies, has partnered with Emirates Steel Arkan, (ADX: EMSTEEL), one of the largest publicly traded steel and building materials manufacturers in the region, to develop an innovative green hydrogen project to decarbonize the hard-to-abate steel sector in the UAE. The …
Exports of Egyptian building materials, refractories, metal industries, and construction increased for the period from January to September 2023 to achieve a value of 6 billion and 279 million dollars compared to the same period in 2022 when they recorded a value of 5 billion and 228 million dollars, an increase of 20%. Egypt’s iron …
Egypt’s iron and steel exports increased to $1.7 billion in 9 months Read More »
The Canadian International Trade Tribunal (CITT) has announced that it has initiated an expiry review against the antidumping duties on cold rolled steel (CRC ) from China, South Korea and Vietnam. The current antidumping duties are at 91.9% for China, 53.0 percent for South Korea and 99.2% for Vietnam, while the subsidy rates are at …
Canada initiates AD expiry review on (CRC) from three countries Read More »
The price of iron ore continued to rise during trading on Tuesday, reaching its highest levels since February, with growing optimism about demand in light of China’s efforts to stimulate its economy. China has identified a list of 50 real estate development companies eligible for financing as the country attempts to reduce the real estate …
Iron ore price rose to its highest levels in 9 months Read More »
Emirates Steel Arkan Group is hosting the 26th session of the Middle East Iron and Steel Conference, which will be held on November 20-22 in Dubai. During this event, the group will showcase its efforts in sustainable manufacturing, which supports the UAE’s climate neutrality strategy. This event brings together many senior decision makers to discuss …
Emirates Steel Arkan hosts a conference on the sustainability of the steel industry 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. The companies that did not change prices are 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 EGP 35,750 …
The latest update on rebar prices in Egypt is November 20, 2023 Read More »
According to the General Authority for Statistics, the average price of a ton of rebar in the Kingdom of Saudi Arabia in October 2023 ranged between 2,678.39 and 4,032.55 Saudi riyals, with an increase of between 0.46% and 1.14%, with the exception of 6 mm rebar, with a decrease of 1.37% compared to September 2023 …
Average rebar prices in the Kingdom of Saudi Arabia Read More »
According to Chinese customs authorities, China’s exports of steel bars reached 0.91 million tons last October, an increase of 40.9% year-on-year, while they increased by 2.25% month-on-month, while its exports of wire rod and angles/channels reached 180,000 tons and 420,000 tons. tons, up 23.5% and 33.4% year-on-year, respectively, despite wire rod exports declining by 18.18% …
China’s exports of steel bars up 49.9% in January-October 2023 Read More »
In October, China’s total production of hot-rolled steel – HRC and cold-rolled steel – CRC in China reached 17.145 million mt and 3.59 million mt , increasing by 14.1% and 9.4% year on year, while decreasing by 3.52% and 2.31 million mt, % on a consecutive monthly basis. HRC prices in the Chinese domestic market …
China’s hot-rolled steel production rose 13.2% in January-October 2023 Read More »
The decline in domestic demand and the decline in the prices of domestic steel products compared to other exporting countries led local producers to resort to exporting abroad, which helped increase the volume of China’s exports of steel products during the period January-October 2023. In the period from January to October 2023, China exported about …
China’s steel exports increased by 34.8% in January-October 2023 Read More »
The 58th regular meeting of the specialized Arab federations operating within the framework of the Council of Arab Economic Unity of the League of Arab States was held today in the city of Cairo – Arab Republic of Egypt, with the participation of the Arab Iron and Steel Union. In their speeches, the attendees affirmed …
According to the prices announced in the global steel markets, scrap prices amounted to $383/ tonne, $5 up compared to last week’s prices, and iron ore prices $130/ tonne, $1 up compared to last week’s prices, while the prices of billets ranged between 490 – 520 Dollars per tonne, while it was between 475 – …
In September this year, Turkey’s wire rod exports amounted to 54,415 mt, down by 26.9% compared to August and by 65.2% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $31.87 million, dropping by 28.6% compared to the previous month and …
Turkey’s wire rod exports down 58.5% in January-September Read More »
According to final data from the US Department of Commerce, total US imports of wire rod reached 49,233 tons in September 2023, down 44.9% from August and 9.0% from September 2022 levels. By value, total wire rod imports reached $47.8 million in September 2023, compared to $85.7 million in August and $61.6 million in September …
According to data collected from the Arab Iron and Steel Union, Egypt’s production of rebar during the period from January to September of this year amounted to 5.753 million tons, a decline of 10.2% compared to the same period last year, which amounted to 6.405 million tons. The first half of this year witnessed a …
Report : Production, sales, and prices of rebar in Egypt in January to September 2023 Read More »
Iron ore prices rose on Wednesday’s trading, as a result of improved prospects for Chinese demand for steel following circulating news about Beijing’s intention to launch a new spending package to support the faltering real estate sector. Bloomberg published a report stating that the Chinese government plans to provide low-cost financing worth at least one …
Iron ore prices exceed $130 per ton for the first time since March Read More »
The European Union is studying the possibility of extending the temporary truce with the United States regarding steel and aluminum trade, a possibility that will help circumvent the stalled negotiations and avoid the re-imposition of customs tariffs on transatlantic exports worth $10 billion. Since the imposition of tariffs will resume automatically at the end of …
Europe is considering extending the steel trade truce with the United States Read More »
In a move that reflects the harsh reality of the challenges of the steel industry at the present time, Tata Steel, a major player in the steel sector, announced on Monday, November 13, that the Tata Steel subsidiary in the Netherlands intends to reduce approximately 800 jobs at its factory in the city of “IJmuiden”, …
According to the daily monitoring of steel prices in Egypt, the prices of rebar ranged between EGP 38,000 EGP 37,700 EXW. The companies that did not change prices are Egyptian Steel EGP 38,000 and Al Gioshy Steel EGP 37,000. The companies that raised prices are Ezz Steel EGP 36,000, Suez Steel EGP 36,000, and this …
The latest update on rebar prices in Egypt is November 14, 2023 Read More »
Ezz Steel Group announced new prices for flat steel after prices remained unchanged for about 9 months and prices rose from 34,485 EGP to 37,000 EGP per tonne, factory delivery, including value-added tax. Statement including VAT Flat Steel 37,000
Jordan Steel Company announced rebar prices for November, unchanged from the prices of October, 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 …
In October 2023, steel companies of Ukraine reduced their exports of semi-finished products by 23.6% compared to September 2023 and increased by 59.6% compared to October 2022, reaching 110.12 thousand tons. The value of exports for this month decreased by 19.9% on a monthly basis and increased by 34.5% on an annual basis, reaching $52.9 …
Oil price forecasts in 2024 are subject to periodic updates by the relevant international and regional institutions depending on market conditions and estimates of supply and demand, which are witnessing a state of fluctuations. A recent report, seen by the Energy Research Unit, expected an increase in the average price of Brent crude during the …
Report: Average oil prices in 2024 may reach $86 Read More »
Iron ore extended its gains, approaching $130 per ton CFR, amid expectations of some recovery in steel production and Goldman Sachs’ forecast that the raw materials market will face shortages this year. Australian iron ore 62% Fe prices rose by $1.5/ton to reach $129.25/ton CFR after rising by 22.5 yuan/ton ($3.1/ton) on the DCE exchange …
Report: Iron ore is approaching $130 per ton, with declining demand Read More »
The company explained in a statement to the Egyptian Stock Exchange that sales of Bahariya Oasis mines during September amounted to 15.69 million pounds. She added that the sales value of the Bani Khaled-Samalut quarries recorded about 32.43 thousand pounds. It is noteworthy that iron and steel for mines and quarries achieved 127.81 million pounds …
Egypt: 15.7 million pounds in iron and steel sales to mines in September Read More »