Leaders from countries affected by US President Donald Trump’s announcement of tariffs on US trading partners responded in a speech at the White House on Wednesday, marking what he described as “Liberation Day.” Italian Prime Minister Giorgia Meloni said on Facebook: “The US imposing tariffs on the European Union is a move I consider wrong …
Reactions of countries affected by Trump’s tariffs on “Liberation Day” Read More »
US President Donald Trump announced tariffs on US trading partners on Wednesday in a speech at the White House on what he described as “Liberation Day,” which he said would bring $5 trillion to the US economy. The list included the names of Arab countries, according to their order on the White House list: …
US President Donald Trump announced a series of new tariffs targeting 180 countries and regions around the world, as part of what he described as measures to protect the US economy and hold accountable countries that treat the United States unfairly. Trump said, “We’re going to take the total rate of all tariffs for each …
Trump Announces New US Tariffs, Including 180 Countries and Regions Read More »
Ezz Steel Company announced stability in prices starting from April 1, 2025 for the Seventh consecutive month at EGP 38,200 EXW, including value-added tax. Statement including VAT Rebar 38,200 EGP 1 USD = 50.70 EGP
Egypt’s imports of iron ores and concentrates increased by 1.9% in 2024, reaching $1.658 billion, compared to $1.627 billion in 2023. Foreign trade data issued by the Central Agency for Public Mobilization and Statistics (CAPMAS) showed that iron ores and concentrates accounted for 1.7% of Egypt’s total imports last year, which amounted to $94.7 billion. …
Egypt’s iron ore imports to rise by about $1.7 billion in 2024 Read More »
International Monetary Fund Managing Director Kristalina Georgieva said that US President Donald Trump’s push for sweeping tariffs is creating significant uncertainty and denting confidence, but is unlikely to lead to a recession in the near term. In an interview at the Reuters Next Newsmaker Forum, Georgieva said, “We are not seeing a severe impact” so …
IMF rules out an economic recession despite tariff concerns Read More »
EMSTEEL Group , one of the largest publicly traded steel and building materials manufacturers in the region, has announced a strategic partnership with Yellow Door Energy, the largest sustainable energy partner for businesses in the Middle East and Africa, to develop the largest industrial solar PV rooftop project in the UAE. The 31.5-megawatt-peak (MWp) solar …
Memorandum of understanding defined to explore integration of Newcleo LFR technology with Danieli Green Steel technology and plants. The agreement reached by Newcleo and Danieli lays the groundwork to decarbonise steel production through combined electricity and heat from nuclear energy. The integration of Newcleo Lead-cooled Fast Reactors -LFR with Danieli’s steelmaking technology will make a …
Newcleo and Danieli to explore nuclear-powered green steel production Read More »
GCC steel billet prices rose from $457/t to $460/t CFR between March 14 and March 28, according to Kallanish. This is $3/t lower than at the start of the month. Iranian bids are $443-445/t CFR from Kuwait, Oman and UAE ports for May delivery and remain stable. Chinese producers cut their bids by $5-7/t to …
According to the prices announced in the global steel markets, scrap prices amounted to $382/ tonne, $1 up compared to last week’s prices. and iron ore prices $103/ tonne, $3 up compared to last week’s prices. While the prices of billets ranged between 440 – 475 Dollars per tonne, while it was between 445 – …
With a 255,000-sqm dedicated to on-site renewable energy and the most modern, Danieli-patented technologies, the new MIDA Hybrid QLP-DUE minimill of Pacific Steel Group – PSG will be the most advanced manufacturing and recycling facility for long products in the world. It will ecologically produce 380,000 shtpy of straight and spooled rebar for infrastructure and …
Danieli and Pacific Steel Group Collaborate to Produce Rebar Using Solar Energy Read More »
Hot-rolled coil prices in China increased by $5/t from March 14 to March 21, to $480/t FOB, according to Kallanish. Since the beginning of the month, the increase was $10/t. It was accompanied by a clear improvement in domestic demand and the export situation. In January-February, Chinese metallurgical plants increased shipments to foreign buyers by …
Iron ore prices rose, supported by seasonal demand for the steelmaking metal amid mild weather, while gains were capped by increased production from Chinese companies. April iron ore futures on the Singapore Exchange rose 0.76% to $102.35 per tonne by 1:08 p.m. Mecca time. A note prepared by brokerage firm Hexson Futures, based on data …
The Gulf Cooperation Council (GCC) has announced the imposition of anti-dumping duties on imports of aluminum alloy flat products from China. According to the GCC’s Bureau of Technical Secretariat for Anti-Injurious Practices in International Trade (GCC-TSAIP), the duties will range between 7.1pct and 20pct and will remain in effect for five years, starting April 25, …
GCC imposes AD tariffs on aluminum alloy flat steel imports from China Read More »
Saudi Iron and Steel Company (Hadeed) has announced that long steel prices will remain unchanged for April deliveries. The company is offering rebar (12-32 mm) at SAR 2,350 ($626) per ton, while wire rod (6.5-16 mm) is set at SAR 2,320 ($618) per ton. Above prices are on a CPT Riyadh basis, excluding 15pct VAT. …
Hadeed leaves long steel prices unchanged for April deliveries Read More »
The European Union has introduced a set of stricter rules on its steel imports, citing concerns about global supply flooding the European market. The new rules place restrictions on the planned expansion of duty-free steel imports and tighten rules on handling unused import quotas. The European Commission said in a statement: “The tightened measure will …
Ayman Ashry, Chairman of the Cairo Chamber of Commerce, emphasized the importance of his meeting with Lieutenant General Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, and Engineer Hassan El-Khatib, Minister of Investment and Foreign Trade, to discuss ways and mechanisms to advance the iron and steel industry in …
World crude steel production for the 69 countries reporting to the World Steel Association (worldsteel) was 144.7 million tonnes (Mt) in February 2025, a 3.4% decrease compared to February 2024. Africa produced 1.9 Mt in February 2025, up 7.6% on February 2024. Asia and Oceania produced 107.3 Mt, down 2.6%. The EU (27) produced 10.1 …
World crude steel production decreased by 3.4% in February 2025 Read More »
Emirates Steel, a subsidiary of the EMSTEEL Group, has announced that rebar prices for April production will remain unchanged for the third consecutive month. The company has set the rebar price at AED 2,660 (USD 724) per ton for deliveries to Abu Dhabi, while shipments to Dubai, Sharjah, and the Northern Emirates are offered at …
Emirates Steel holds rebar prices steady for April production Read More »
The Iron and Steel Mines and Quarries Company achieved sales of EGP 156.75 million in February. Sales from the Bahariya Oasis mines in January reached EGP 156.69 million, and sales from the Beni Khaled quarries in Samalut reached approximately EGP 57,970. The profits of the Iron and Steel Company for Mines and Quarries increased by …
Egypt: EGP 156.75 Million in Sales for Iron and Steel Mines and Quarries in February Read More »
Engineer Mohamed Saadawi, Chairman of the Metallurgical Industries company, revealed the goal of operating Delta Steel at full production capacity in the second quarter of this year. In a press conference organized by the Ministry of the Public Business Sector, he stated that the company’s first production line was facing some problems, which required the …
India plans to impose a 12% “safeguard duty” on certain steel products for 200 days to protect its domestic industry from “serious injury” caused by a sharp increase in imports. While the move was welcomed by domestic manufacturers, it has raised concerns among manufacturing industries about rising costs. This decision comes as India faces the …
India plans to impose 12% tariff to protect domestic steel industry Read More »
Rebar prices in Egypt this week ranged between EGP 31,800 – 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 32,500, El Komy Steel EGP …
According to final census data from the US Department of Commerce, US imports of standard pipe totaled 61,233 mt in January this year, down 33.8% from December and up 16.8% year on year. By value, standard pipe imports totaled $73.2 million in January, compared to $94.6 million in December and $68.9 million in January last …
US standard pipe imports down 33.8% in January 2025 Read More »
Riyadh Steel Company, which operates in the steel industry and scrap metal sales, reported a 82% decrease in profits to SAR 2 million by the end of 2024, compared to SAR 11.1 million achieved during the same period in 2023. Summary of financial results (million) Item 2023 2024 Change Revenue 134.20 162.57 21.1 % Gross …
Riyadh Steel profits reach SAR 2 million (-82%) by the end of 2024 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $381/ tonne, $1 up compared to last week’s prices. and iron ore prices $100/ tonne, $4 down compared to last week’s prices. While the prices of billets ranged between 445 – 475 Dollars per tonne, while it was between 435 – …
Norway’s Blastr Green Steel has announced that its planned low-emission steel plant in Inkoo, Finland, has successfully passed the environmental impact assessment (EIA) process, moving the project into the permitting process. Antti Kaikkonen, Blastr Green Steel’s Country Manager for Finland, said the company had worked for more than two years to obtain these assessments with …
Blastr Green Steel Receives Environmental Approval Read More »
The 5800-cubic-meter blast furnace #4 of Jiangsu Shagang Group, at Zhangjiagang plant, in the Lo Jiangsu province, is back in operation after a modernization project executed by Danieli Corus. The project consisted of the conversion of the bosh, belly and lower stack zones to the Danieli Corus high-conductivity lining design, based on a dense pattern …
In the January-February period this year, China’s iron ore production amounted to 158.353 million mt, decreasing by 12.6% year on year, according to China’s National Bureau of Statistics (NBS). Import iron ore prices moved up first in February, while edging down late in the month. The lowest level of $96/mt during the given month was …
China’s iron ore output down 12.6% in Jan-Feb 2025 Read More »
According to preliminary data released by the US Department of Commerce, US imports of rebar totaled 166,058 mt in January this year, up 191.1% month on month and up 310.5% year on year. By value, rebar imports totaled $105.2 million in January this year, compared to $39.5 million in December and $26.8 million in January …