US President Donald Trump said his administration has reached an important agreement with the UK, noting that final details of the trade agreement will be announced within a few weeks. For his part, British Prime Minister Keir Starmer said that the trade agreement with the US is great and in the interest of both our
United States and Britain Announce a Trade Agreement Read More »
Iron ore prices fell as China’s largest steel association confirmed it would proceed with production curbs, while long-awaited interest rate cuts by the People’s Bank of China failed to deliver a sustained improvement in market sentiment. Futures fell 1.5%, paring gains in iron ore prices, when the People’s Bank of China announced monetary easing measures,
Iron ore prices fall amid Chinese production curbs Read More »
Despite the decline in rebar prices in the first quarter of 2025, the Egyptian market witnessed a double-digit decline in both production and sales, reflecting challenges facing domestic demand. According to official data issued by the Ministry of Supply and Internal Trade, Egypt’s rebar production in March 2025 decreased by 18% compared to February of
Rebar production and sales decline in Egypt despite lower prices in Q1 of 2025 Read More »
In a strategic move toward enhancing industrial independence and reducing dependence on imports, Suez Steel, one of the largest iron and steel companies in Egypt and the region, announced the commencement of operations of two new factories, representing a qualitative leap in the production and technological capabilities of the heavy industries sector. The first factory
In March this year, Turkey’s scrap import volume decreased by 9.4% year on year and went up by 7.4% month on month to 1.66 million metric tons, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these imports totaled $622 million, down 24.4% year on year and up 7.3% month
Turkey’s scrap imports down 11.7% in January-March 2025 Read More »
Rebar prices in Egypt this week ranged between EGP 33,700 – EGP 38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 36,300, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,000, Misr Steel EGP 34,500, El Komy Steel EGP
Rebar prices in Egypt, May 5, 2025 Read More »
Emsteel Group, the UAE’s largest steel and building materials manufacturer, has achieved a significant milestone in its efforts to reduce industrial carbon emissions across the region. It successfully launched the first pilot project to produce sustainable steel using green hydrogen in the Middle East and North Africa (MENA) region in a strategic partnership with Masdar.
UAE: Emsteel Leads Regional Sustainable Steel Production Efforts Read More »
India has proposed lifting tariffs on steel, auto parts, and pharmaceuticals, seeking to avoid US tariffs imposed and suspended by President Donald Trump for three months, according to people familiar with the matter, Bloomberg reported. The sources said the proposed tariff exemption would apply to a specified amount of imports, and after that limit, imported
The Iron and Steel Mines and Quarries Company announced total sales exceeding EGP 131 million during the month of March. The company stated in a statement to the Egyptian Exchange that sales from the Bahariya Oasis mines during March amounted to EGP 130.98 million. It added that sales from the Beni Khaled-Samalut quarries amounted to
Egypt: Iron and Steel Mines Company Sales Reach EGP 131 Million in March Read More »
Ezz Steel Company announced stability in prices starting from May 1, 2025 for the eighth consecutive month at EGP 38,200 EXW, including value-added tax. Statement including VAT Rebar 38,200 EGP 1 USD = 50.70 EGP
Egypt : Ezz Steel maintains rebar prices for May 2025 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $330/ tonne, $6 up compared to last week’s prices. and iron ore prices $98/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 420 – 450 Dollars per tonne, while it was between 420– 450
Steel prices in the first week of May 2025 Read More »
According to a statement released by the Turkish Steel Producers’ Association (TCUD), in March this year, Turkey’s steel exports increased by 31.3% to 1.48 million mt, while the value of these exports rose by 18.6% to $1 billion, year on year. In the first quarter, the country’s steel exports rose by 18.5% to 3.79 million
Turkey’s steel exports rise in March, imports decrease Read More »
EMSTEEL, announces that Saeed Al Ghafri, CEO of the Group’s steel business (Emirates Steel), is to step down after 19 years with the business. He will remain in post until the end of June to ensure a smooth transition. EMSTEEL will announce a successor in due course. During the interim period, Emirates Steel’s Chief Operating
EMSTEEL announces planned leadership transition in steel business Read More »
In January-March 2025, the global steel company ArcelorMittal increased its net profit by 6.3% compared to the same period in 2024 to $805 million. Compared to the previous quarter, the figure almost doubled. This is stated in the financial report published on the company’s website. The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization)
ArcelorMittal earned $805 million in net profit in Q1 2025 Read More »
The Saudi Iron and Steel Company (Hadeed) has released its new long steel prices for May deliveries. The company reduced rebar prices by SAR 70 ($19) per ton, bringing the new price to SAR 2,280 ($607) per ton. In contrast, wire rod prices (6.5-16 mm) were increased by SAR 30 ($8) per ton, now set
Saudi Iron and Steel Company (Hadeed) unveils revised long steel prices for May 2025 Read More »
Oil prices fell marginally during trading on Thursday, May 1, 2025, continuing their losses for the third consecutive session, amid fears of an economic recession threatening global demand. Indications of a potential increase in OPEC+ production and data showing a contracting US economy sparked a sharp sell-off during the previous session, sending West Texas Intermediate
Oil prices fall for third consecutive session, reaching $61 Read More »
Using Danieli QSP-DUE technology, Yukon enjoys the greatest production flexibility thanks to three operating modes—infinite rolling, semi-infinite rolling, and coil-to-coil—which guarantee the widest range of steel grades and thicknesses. Danieli’s patented DySen casting machine recently set record casting figures: 145 mm thick sheets were consistently produced, a significant achievement for molds. 165 mm thick sheets
Yukon and Danieli Collaborate on Infinite Rolling Technology Read More »
The Egyptian government has initiated a safeguard investigation into hot-rolled flat steel products. This measure has been long discussed in the market, with some flat steel manufacturers in the local market having long demanded it. On April 22, 2025, the Minister of Investment and Foreign Trade approved the initiation of a safeguard investigation into the
Egypt decides to launch safeguard investigation on Increased HRC imports Read More »
Mr. Ayman El-Ashry, Chairman of the Cairo Chamber of Commerce and Member of the Federation of Egyptian Industries, stated that the activities of the second day of the Saudi-Egyptian Business Forum, held in the Saudi capital, Riyadh, witnessed tangible positive results that confirm the depth of economic relations between Egypt and Saudi Arabia. El-Ashry explained
The General Authority of the Suez Canal Economic Zone announced the laying of the foundation stone for the integrated industrial complex of the Chinese company Xinfeng Egypt Steel in the Sokhna Integrated Zone of the Suez Canal Economic Zone. The economic zone stated in a statement that the project includes nine diverse factories in its
Foundation stone laid for Xinfeng Egypt Steel Complex in Sokhna Read More »
Baosteel, China’s largest listed steelmaker, said it is likely to cut production nationwide this year, citing external pressures on an industry already struggling with overcapacity and declining demand. Regarding the company’s first-quarter results, Cai Yanbo, deputy general manager of Baosteel, said the chances of a cut are high, as stated in the government report. Cai
Baosteel Expects Production Cuts in 2025 Due to Weak Demand Read More »
Rebar prices in Egypt this week ranged between EGP 33,700 – EGP 38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 37,000, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,000, Misr Steel EGP 35,000, El Komy Steel EGP
Rebar prices in Egypt April 28, 2025 Read More »
According to the latest World Steel report on crude steel production, Arab countries’ crude steel production reached 3.4 million tons in March, unchanged from March 2024. Egypt topped Arab steel production in March, with 828.3 thousand tons, a decrease of -4.8%. Saudi Arabia came in second rank with 719.3 thousand tons, a decrease of -17.8%.
Arab countries’ crude steel production increased by 1.0% in Q1 of 2025. Read More »
Morocco has launched a high-speed rail extension project with investments of approximately 96 billion dirhams ($10 billion), part of the country’s massive infrastructure development projects in preparation for the 2030 World Cup. Under the project, “a new railway line will be constructed between the cities of Kenitra and Marrakech, covering a distance of approximately 430
Morocco Launches $10 Billion Railway Development Project Read More »
The President of the Republic of Algeria, Mr. Abdelmadjid Tebboune, oversaw the laying of the foundation stone for the “Iron Concentrate and Pellets” production complex project located in the “Toumiat” region of Bechar, as part of the Gara Djebilet iron ore mine exploitation project. The President had previously embarked on a working and inspection visit
According to the prices announced in the global steel markets, scrap prices amounted to $324/ tonne, $24 down compared to last week’s prices. and iron ore prices $99/ tonne, $2 up compared to last week’s prices. While the prices of billets ranged between 420 – 450 Dollars per tonne, while it was between 430 –
Steel prices in the fourth week of April 2025 Read More »
India’s steel minister said coke imports will accelerate due to limited availability of the key steelmaking ingredient amid increased steel production capacity. Steel Minister Sandeep Pundrik explained that coke imports will reach 160 million tons by 2030, compared to about 58 million tons currently. Coke imports declined 0.7% year-on-year in fiscal 2025 due to lower
Indian Steel Minister: Coke Imports to Reach 160 Million Tons by 2030 Read More »
India, the world’s second-largest producer of crude steel, has imposed a temporary 12% tariff on some steel imports to curb a surge in cheap shipments from China. The Indian Finance Ministry announced that the safeguard tariffs will be in effect for 200 days starting Monday unless they are revoked, replaced, or modified. Indian Steel Minister
India Imposes 12% Tariff on Some Steel Imports Read More »
The United Steelworkers union informed Treasury Secretary Scott Bessent that it remains categorically opposed to Nippon Steel’s $15 billion bid for U.S. Steel or any deal that would give Nippon influence over the company. USW President David McCall told Bessent in a letter sent late yesterday that the union does not believe any mitigating measures
American Steelworkers Union Rejects Nippon Steel’s Acquisition of U.S. Steel Read More »
Rebar prices in Egypt this week ranged between EGP 34,500 – EGP 38,200. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 38,200, El Marakby Steel EGP 37,000, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,000, Misr Steel EGP 35,500, El Komy Steel EGP
Rebar prices in Egypt April 22, 2025 Read More »