US President Donald Trump, in remarks he made on Wednesday, expressed his categorical rejection of the idea of United States Steel Corp., one of the largest US steelmakers, being transferred to Japanese hands. These remarks came in the context of his clear opposition to Nippon Steel Corp.’s plan to fully acquire its US counterpart, a
Trump Says He Does Not Want to See U.S. Steel Go to Japan Read More »
US President Donald Trump announced today that he had authorized a 90-day temporary suspension of his tariff plan, but also raised the tariff rate on China to 125%, effective immediately, from 104%. Trump added that he had “authorized a 90-day suspension and a significant reduction in the reciprocal tariff during that period, by 10%, effective
Trump suspends tariffs on China for 90 days, raises them to 125% Read More »
The Libyan Iron and Steel Company announced an unprecedented achievement, achieving the highest export figure in its history during the first quarter of 2025, exporting 210,000 tons of hot briquetted iron (HBI) to several Arab and European countries via 16 ships from the company’s port. This qualitative achievement comes in partnership with FGE, which played
Libyan Iron and Steel Company Achieves Unprecedented Exports of HBI in Q1 2025 Read More »
China has raised tariffs on US goods to 84% from 34%, effective April 10, according to a government statement released Wednesday, in a new escalation of the trade war that has rocked global markets. China’s move comes as Trump’s latest tariffs took effect in Beijing on Wednesday afternoon, bringing the total US tariffs on Chinese-made
New escalation in trade war: China raises tariffs on US goods to 84% Read More »
The European Union has agreed to impose tariffs on €21 billion ($23.2 billion) worth of US goods in retaliation for the 25% tariffs imposed by President Donald Trump last month on EU steel and aluminum exports. A majority of the EU’s 27 member states voted Wednesday in favor of the sanctions, some of which will
EU retaliates with initial package of tariffs on $23.2 billion worth of goods Read More »
US President Donald Trump’s unprecedented 104% tariffs on all Chinese imports took effect Wednesday morning (12:00 a.m. Washington time on Tuesday). These new tariffs are in addition to the tariffs previously imposed on China before the start of Trump’s second term, deepening the trade dispute between the world’s two largest economies. Tariffs on Chinese imports
Trump’s 104% Tariffs on China Take Effect Read More »
Oil prices fell more than 2.5% during trading on Wednesday, April 9, 2025, continuing their losses for the fifth consecutive session, amid fears of a global recession threatening demand. Crude prices reached their lowest levels in more than four years, affected by looming demand concerns, fueled by the escalating tariff war between the United States
Oil prices fall 2.5%, with June Brent crude above $61 Read More »
EMSTEEL has announced its recognition as a 2025 Steel Sustainability Champion by the World Steel Association (worldsteel), cementing the Group’s position as the sole receiver of the prestigious accolade in the Middle East and North African region for a second consecutive year. The recognition was presented during the worldsteel Special General Meeting held in Sydney,
US President Donald Trump has directed the Committee on Foreign Investment in the United States (CFIUS) to conduct a fresh review of Nippon Steel’s bid to acquire US Steel to help determine whether “further action” is appropriate to complete the deal. This action has raised hopes for a green light for the deal, with US
Trump Orders Review of US Steel Deal, Shares Jump 16% Read More »
China has vowed to fight US tariff threats ‘to the end’ after President Donald Trump threatened to increase tariffs on Chinese imports by 50% starting April 9 if Beijing does not withdraw its retaliatory measures. The tit-for-tat escalation has ignited global markets, leading to a decline and turmoil in global stock markets and raising fears
China vows to fight US tariff threats ‘to the end’ Read More »
In February this year, Turkey’s wire rod exports amounted to 46,869 metric tons, down by 15.3% compared to January and by 66.7% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $26.99 million, decreasing by 16.0% compared to the previous month
Turkey’s wire rod exports down by 51.7% in January-February 2025 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 33,000, El Komy Steel EGP
Rebar prices in Egypt April 07, 2025 Read More »
European Union countries are seeking a unified response in the coming days to US President Donald Trump’s tariffs, and are likely to agree on a first set of countermeasures targeting up to $28 billion in US imports. This move would see the EU join China and Canada in imposing countermeasures on the United States in
EU seeks unified response to Trump tariffs Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $378/ tonne, $4 down compared to last week’s prices. and iron ore prices $103/ tonne, $3 unchanged from last week’s prices. While the prices of billets ranged between 440 – 475 Dollars per tonne, while it was between 440 – 475
Steel Prices in the First Week of April 2025 Read More »
International Monetary Fund Managing Director Kristalina Georgieva warned that the new tariffs announced by US President Donald Trump on his country’s imports pose a “significant risk” to the global economy. “It is important to avoid actions that could further damage the global economy,” she said in a statement, as Washington’s trading partners consider retaliatory measures
IMF warns: Trump’s tariffs pose a “significant risk” to the global economy Read More »
The US administration has announced exemptions for a number of essential goods, including steel, aluminum, copper, and gold bullion, from retaliatory tariffs, according to an official document distributed by the White House. The White House said that steel and aluminum imports will not be subject to reciprocal tariffs, a move that will at least provide
White House Exempts Steel, Aluminum, Copper, and Gold from Reciprocal Tariffs Read More »
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:
Arab countries on Trump’s new tariff list Read More »
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 : Ezz Steel maintains rebar prices for April 2025 Read More »
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
Report: Billet Prices in Main Markets Read More »
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 –
Steel prices in the last week of March 2025 Read More »
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
Hot-rolled coil prices in key markets Read More »
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
Iron ore futures rise on seasonal demand Read More »
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 »