The European Union will cut steel import quotas to reduce imports by an additional 15% starting next April, a move aimed at preventing cheap steel from flooding the European market after Washington imposed new tariffs. “At a time when no one respects WTO rules and everyone resorts to national security, the EU cannot be the …
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India is moving to join the wave of protectionist measures in the steel sector, preparing plans to impose import tariffs one week after US President Donald Trump’s decision to impose 25% tariffs on steel and aluminum imports. The Indian Ministry of Commerce has proposed a 12% duty on a wide range of imported steel products, …
India joins the trade war, moves to impose tariffs on steel imports Read More »
Ezz Steel is preparing to file an objection to the methodology used by the European Commission to calculate provisional anti-dumping duties on its products, a company official revealed to Asharq Bloomberg. The official, who declined to be identified due to the sensitivity of the matter, confirmed that the objection will be filed “within days.” The …
Egypt: Ezz Steel to Object to EU Anti-Dumping Duty Calculation Methodology 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 …
Dubai-based steel fabricator, Fabtech Engineering has signed a strategic agreement with French industrial leader Groupe M to drive innovation and sustainability in the UAE’s nuclear and renewable energy sectors. Fabtech, a key player in heavy manufacturing across the GCC and global markets, will expand its nuclear sector offerings by supplying ‘Made in UAE’ products to …
Fabtech partners with Groupe M to advance steel solutions for energy sector Read More »
A statement from the European Commission revealed that the European Union is considering imposing an initial anti-dumping duty of 15.6% on HRC imports from Egypt, starting April 7. It will continue its studies and reach a final decision in October. The European Union has the right to impose an additional 25% duty on quantities exceeding …
EU is considering imposing a 15.6% AD duty on HRC imports from Egypt Read More »
In the January-February period this year, China’s outputs of pig iron, crude steel and finished steel totaled 140.75 million mt, 166.3 million mt and 224.09 million mt, decreasing by 0.5%, down 1.5% and up 4.7% year on year, respectively, as announced by China’s National Bureau of Statistics (NBS). In early March (March 1-10) this year, …
China’s crude steel output down 1.5% in Jan-Feb 2025 Read More »
Iron ore prices fell on Monday as a series of Chinese real estate data exacerbated concerns about the demand outlook, as well as the looming trade war, which threatens to slow economic growth. Iron ore futures for May delivery on the Dalian Commodity Exchange fell 1.15% to 778.5 yuan per ton ($107.55) at the close …
Iron ore futures fall 2% as Chinese real estate data weighs Read More »
The value of Egypt’s iron and steel imports increased by 20.9% in 2024, reaching $5.179 billion, compared to $4.285 billion in 2023. Foreign trade data showed that iron and steel accounted for 5.5% of Egypt’s total imports last year, amounting to $94.698 billion. A data analysis showed that five countries—China, Russia, the United Kingdom, Belgium, …
Egypt’s iron and steel imports rise to $5.2 billion in 2024 Read More »
The American Chamber of Commerce to the European Union warned on Monday that the tariff war between the United States and Europe is threatening $9.5 trillion in annual transatlantic business. The chamber, which has more than 160 members including Apple, ExxonMobil, and Visa, highlighted in its annual Transatlantic Economic Report a close trade relationship that …
US-EU Tariff War Threatens $9.5 Trillion in Business Read More »
According to Egypt’s State Information Service, Prime Minister Moustafa Madbouli visited Kandil Steel Factory in 10th of Ramadan City. Chairperson Amr Kandil welcomed him to the facility. Executive VP Reham Abou El-Soud noted that exports account for 50pct of production. Following factory upgrades, the workforce grew to 1,400 employees, with investments reaching $25 mln. Modernized …
Egypt : Kandil Steel to expand production capacity to 900,000 tons annually Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $380/ tonne, $8 up compared to last week’s prices. and iron ore prices $104/ tonne, $4 up compared to last week’s prices. While the prices of billets ranged between 435 – 465 Dollars per tonne, while it was between 435 – …
Morocco’s Ministry of Industry and Commerce has initiated an anti-dumping investigation into galvanized wire imports from Egypt and UAE. The probe follows a complaint by Moroccan companies Somatref, Sicotrem, Galvaftl, and Sodefer, which allege that these imports are being dumped into the market at unfair prices. The product investigated, classified under HS code 7217.2099.00, is …
Morocco : Ministry launches AD probe into galvanized wire imports from Egypt & UAE Read More »
The European Commission has released the results of its preliminary investigation into certain HRC imported from Egypt, India, Japan, and Vietnam. As a result of this investigation, the EU will impose anti-dumping duties on imports from these countries. The leaked preliminary report of the Commission’s anti-dumping investigation proposes provisional duty rates on imports from Egypt …
EU sets AD duties on HRC imported from Egypt, India, Japan and Vietnam Read More »
In January this year, Turkey’s wire rod exports amounted to 55,128 metric tons, down by 21.9% year on year and by 56.7% month on month, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $32.03 million, decreasing by 26.2% year on year and 57.2% …
Turkey’s wire rod exports down 21.9% in January 2025 Read More »
South Korea plans to strengthen controls on metal imports to protect its producers from potential dumping in the domestic market, after US President Donald Trump moved forward with 25% tariffs on steel and aluminum imports from around the world. South Korea, a major metals producer in Asia, refrained from taking any immediate retaliatory steps after …
South Korea Tightens Control on Steel Imports in Response to US Tariffs Read More »
The CEOs of the three largest American steelmakers are urging US President Donald Trump to resist giving any tariff exemptions on steel imports. Nine US steel industry executives sent a letter to Trump on March 7, just days before the US is expected to implement a 25% tariff on all steel imports. The letter said …
Danieli, a supplier of iron and steel making plants, and newcleo SA, a nuclear energy provider, have signed a Memorandum of Understanding to explore nuclear-powered green steel production. The agreement will study the feasibility of integrating newcleo’s Lead-cooled Fast Reactors (LFR) with Danieli’s steelmaking technology. The companies hope to leverage the capability of LFRs to …
Danieli and newcleo to explore nuclear-powered green steel production Read More »
Japan expressed “regret” over not being exempted from US President Donald Trump’s steel and aluminum tariffs, which took effect today. Japanese Chief Cabinet Secretary Yoshimasa Hayashi said on Wednesday that “the failure to exempt Japan from the additional tariffs is regrettable.” He warned that the move “threatens to have a significant impact on the economic …
Japan warns of Trump tariffs’ impact on US relationship Read More »
China announced on Wednesday that it will take “all necessary measures” to protect its interests in response to the US’s 25% tariffs on steel and aluminum imports. “The US measures seriously violate World Trade Organization rules and seriously undermine the rules-based multilateral trading system,” Chinese Foreign Ministry spokeswoman Mao Ning said when asked about the …
Australian Prime Minister Anthony Albanese said Wednesday, after failing to secure an exemption from the US tariffs on his country’s steel and aluminum exports, that the tariffs, which just took effect, are “completely unjustified.” After the White House dashed Australia’s hopes that its steel and aluminum exports to the United States would receive an exemption …
Australian Prime Minister: US tariffs on Australian steel are “completely unjustified” Read More »
US President Donald Trump’s 25% tariffs on steel and aluminum imports took effect on Wednesday, prompting retaliation from the European Union. The White House confirmed the tariffs, which will affect Canada, Australia, the European Union, and other countries, late Tuesday, but Trump clarified that he no longer plans to raise tariffs on metals imported from …
US steel and aluminum tariffs take effect, Europe responds Read More »
US President Donald Trump has doubled his planned tariffs on all Canadian steel and aluminum imports to 50%, in retaliation for Ontario’s 25% tariff on electricity exports to the United States. Trump said in a post on Truth Social that he had instructed his Commerce Secretary to impose an additional 25% tariff on the products, …
US Doubles Steel and Aluminum Tariffs on Canada to 50% Read More »
Rebar prices in Egypt this week ranged between EGP 32,000 – 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 33,500, El Komy Steel EGP …
ODI, a subsidiary of Al Arjani Group, signed a memorandum of understanding with Al Wahda Industrial Development Company, a subsidiary of El Garhy Group. According to a statement today, ODI will acquire 26.25% of Misr National Steel (Ataka) after completing due diligence and obtaining approval from regulatory authorities and the Egyptian Competition Authority. Misr National …
ArcelorMittal, the world’s second-largest steelmaker, has announced a maintenance program worth more than €270 million, which includes temporarily halting production at its main plants in Dunkirk and Fos-sur-Mer in France for several months. According to a company statement, operations at the main blast furnace in Dunkirk are scheduled to be suspended for 90 days starting …
ArcelorMittal temporarily halts production at its largest plant in France Read More »
In a move that sparked widespread controversy on the international scene, US President Donald Trump signed an executive order on January 20, 2025, ordering the United States to withdraw from the Paris Climate Agreement. This is not the first time the United States has withdrawn from the agreement, as it previously withdrew during Trump’s first …
China’s hot-rolled coil (HRC) market is expected to find some balance in March, supported by recovering domestic demand and proactive production cuts, despite headwinds from a worsening trade environment globally caused by rising steel protectionism, Mysteel’s latest monthly report suggests. For March, China’s spot price of Q235B 4.75mm HRC in Shanghai under Mysteel’s assessment will …
Report: China’s HRC see increased domestic demand, lower exports Read More »
With the implementation of US tariffs on Indian steel imports, domestic steel prices in India are witnessing a correction of about INR 3,000 /tonne ($34.45 /t) due to the potential redirection of excess supply to India. US reciprocal tariffs, including on India, will come into effect from 2 April. These will disrupt export markets and …