According to export data from the US Department of Commerce, US exports of cold rolled coils totaled 48,412 mt in February this year, down 34.9% month on month and down 19.2% year on year. By value, CRC exports totaled $64.2 million in February, compared to $89.2 million in the previous month and $78.1 million in
US CRC Exports and Imports Decline in February 2025 Read More »
Global energy-related carbon emissions increased by 0.8% year-on-year in 2024, reaching an all-time high of 37.8 Gt. This is stated in a recent report by the International Energy Agency (IEA). Last year, CO2 emissions from fuel combustion increased by about 1%, or 357 million tons, while those from industrial processes decreased by 2.3%, or 62
Global carbon emissions from energy to reached all-time high in 2024 Read More »
POSCO Group, a leading South Korean steelmaker, said it will invest in Hyundai Steel’s US steel mill project as part of its strategy to address the comprehensive tariffs imposed by US President Donald Trump on steel imports. According to a press release, POSCO signed a memorandum of understanding with Hyundai Motor Group to participate in
POSCO Invests in Hyundai Steel’s US Steel Mill Project Read More »
Abu Dhabi-based Al Gharbia Pipe Company has announced a major industrial milestone, achieving a total production exceeding 500,000 tons of steel pipes since commencing operations in 2019 at its facility located in the Khalifa Industrial Zone Abu Dhabi (KIZAD). This achievement reflects Al Gharbia’s reliance on advanced technologies, including artificial intelligence, and underscores its commitment
Al Gharbia Pipe Company Produces 500,000 Tons Since Commencing Operations in Abu Dhabi Read More »
China has denounced countries that are practicing “appeasement” with the United States in trade negotiations regarding US tariffs, stressing that it “firmly opposes” any agreement that harms its interests. Washington imposed 145% tariffs on most Chinese goods, even as high as 245% on some products, such as electric cars. In response, China imposed 125% tariffs
Hundreds of global financial and economic leaders are flocking to Washington, D.C., this week for the 2025 semi-annual Spring Meetings of the International Monetary Fund and World Bank Group. The atmosphere is tense, with one major concern: how to negotiate relief from the latest US tariffs. While these meetings typically focus on coordinating global policies
Tariffs Dominate IMF and World Bank Meetings Read More »
Oil prices fell 1.5% as investors refocused on concerns that US tariffs will create economic headwinds that will dampen fuel demand growth. Brent crude futures fell 97 cents, or 1.4%, to $66.99 a barrel at 06:40 GMT, after closing up 3.2% on Thursday. US West Texas Intermediate (WTI) crude fell 96 cents, or 1.5%, to
Oil falls as US tariffs resurface demand concerns Read More »
SMS group has completed the automation system upgrade of hot strip mill no. 1 at PT Krakatau Steel (Persero), Tbk. (PTKS) in Cilegon, Indonesia, marking a significant milestone with the production of the first sellable coil. This achievement underlined PTKS’s return to the Indonesian market as a producer of hot rolled coils following a lengthy
The world’s largest steel miners face a difficult start to 2025, with production impacted by extreme weather conditions, while China, the largest buyer of the ore, prepares for a trade war. BHP Group, Rio Tinto Group, and Vale SA all announced lower quarterly shipments this week compared to last year, due to disruptions caused by
Trump’s Heavy Tariffs Hit Steel Companies Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $348/ tonne, $17 down compared to last week’s prices. and iron ore prices $97/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 430– 460 Dollars per tonne, while it was between 440 – 470
Steel prices in the third week of April 2025 Read More »
China’s crude steel production rose in March to a 10-month high, driven by improved profit margins, but analysts expect production to remain flat or decline in April due to uncertainties about demand. Data from the National Bureau of Statistics showed that the world’s largest steel producer produced 92.84 million tons of crude steel last month,
China’s crude steel production rises to 10-month high Read More »
Qatar Steel hosted the 10th meeting of the Economic Committee of the Arab Iron and Steel Union in Doha, Qatar, from April 14 to 15. The meeting brought together representatives from several Arab countries, including: Egypt, Saudi Arabia, Bahrain, Algeria, Kuwait, Qatar, Tunisia, of Libya, and Morocco. During the sessions, participants discussed the current economic
Container ships, the backbone of global trade and transporting about 90% of the world’s manufactured goods, have become a new target in Donald Trump’s conflict with China, and none of the major shipping companies appear to be immune from the potential additional costs. Trump wants to penalize Chinese ship operators to stimulate the development of
Trump’s Tariffs on Chinese Ships Threaten Shipping Giants Read More »
According to export data from the US Department of Commerce, monthly steel exports in February this year down 13.3% from January and 12.2% year on year to 613,979 mt. In terms of value, US steel exports in February totaled $1.08 billion, compared to $1.19 billion in January and $1.25 billion in February last year. Steel
US steel exports down 13.3% in February 2025 Read More »
Rebar prices in Egypt this week ranged between EGP 35,000 – 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 36,000, 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 15, 2025 Read More »
The European Commission announced on Monday that the European Union’s response to Donald Trump’s tariffs has been suspended until July 14 to allow time for negotiations with the US president. Washington and Brussels have been locked in a trade standoff for weeks over tariffs and retaliation, after Trump launched a trade war that has not
EU suspends response to Trump tariffs until July 14 Read More »
China’s iron ore imports fell in March to their lowest level in 20 months, contributing to a 7.8% year-on-year decline in first-quarter shipments to around 285.31 million tons. According to data released by Chinese customs on Monday, the world’s largest consumer of iron ore imported 93.97 million tons of the key steelmaking ingredient last month,
China’s iron ore imports in March fell to their lowest level in 20 months. Read More »
China has urged the British government to avoid politicizing the British Steel case, following comments by the UK trade minister criticizing the Chinese company’s takeover of the country’s last steelmaking plant. China warned the UK government to treat the Chinese owners of British Steel fairly or risk undermining investor confidence in the country, two days
China warns London against ‘politicizing’ British Steel Read More »
Jazeera Steel, a steel pipe manufacturer, reported profits of OMR 2.10 million (17 baisas per share) by the end of the first quarter of 2025, compared to profits of OMR 1.82 million achieved in the same period in 2024, as shown in the following table: Income Statement Period Q1 2024 Q2 2025 Change Revenue (OMR
Jazeera Steel’s profits reach OMR 2.1 million (up 15%) by the end of Q1 of 2025 Read More »
The British government expressed confidence in its ability to secure sufficient raw materials to ensure the continued operation of blast furnaces at the country’s last crude steel plant after taking operational control of the plant from its Chinese owners. The government explained that the Chinese Jingye Group, owner of British Steel, had decided to close
Britain Takes Over Operation of Last Crude Steel Mill After Dispute with Chinese Owners Read More »
SSAB, a global leader in steel manufacturing, has awarded SMS group an Early Services Agreement for the delivery of the cold rolling complex at its steel production facility in Luleå, Sweden. This project marks a significant step towards sustainable steel production, underscoring SSAB’s commitment to green technologies and processes. With an annual production capacity of
SSAB and SMS group advance sustainable steel production Read More »
The European Union announced a 2.5% reduction in the provisional anti-dumping duty imposed on its imports of Egyptian hot-rolled steel, bringing it to 12.8% from 15.3%, effective April 7, for a period of six months until a final decision is made. The Chamber of Metallurgical Industries indicated that this amendment is the result of the
EU Reduces Anti-Dumping Duty on Egyptian Steel to 12.8% Read More »
Ezz Steel, listed on the Egyptian Exchange under the code ESRS, has sent a clarification regarding the provisional anti-dumping duty imposed by the European Union. The company’s statement, sent to Mubasher Info, stated that it is necessary to correct some interpretations and provide an accurate account of the company’s position and the grounds for its
Ezz Steel Clarification Regarding EU Anti-Dumping Duty Read More »
Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, and Ursula von der Leyen, President of the European Commission, agreed during a phone call to launch negotiations on a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the European Union. According to the Emirates News Agency, the President of the UAE
UAE and EU Launch Economic Partnership Negotiations Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $365/ tonne, $13 down compared to last week’s prices. and iron ore prices $98/ tonne, $5 down compared to last week’s prices. While the prices of billets ranged between 440 – 470 Dollars per tonne, while it was between 440 –
Steel prices in the second week of April 2025 Read More »
In February this year, Turkey’s slab imports amounted to 387,637 metric tons, up by 22.8% compared to January and increasing by 75.1% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these imports totaled $191.43 million, increasing by 19.0% compared to the previous month
Turkey’s slab imports up by 19.6% in January-February 2025 Read More »
The Chinese Ministry of Finance announced a short while ago, Friday, that Beijing will raise tariffs on all US goods from 84% to 125%, effective April 12. The statement read: “Even if the United States continues to impose higher tariffs, it will make no economic sense and will become a joke in the history of
Urgent: China Raises Tariffs on US Goods to 125% in Unprecedented Escalation Read More »
Iron ore prices fell during Wednesday’s trading amid escalating global trade tensions, touching their lowest level in more than six months. The most actively traded iron ore futures contract for September delivery on the Dalian Exchange ended trading today down 2.68% at 689 yuan ($93.74) per metric ton, after touching its lowest level since September
Iron ore prices fall to lowest level in more than six months Read More »
Japan’s trade and industry ministry will consider taking action on imports of Chinese steel if any unfair practices are identified under World Trade Organization rules, a ministry official said on Thursday. The official also said that Japan will continue to urge the U.S. government to exempt it from steel and aluminum tariffs.
Japan to act on Chinese steel imports if unfair practices found under WTO rules Read More »
