Arab Steel Summit

Arab Steel Summit

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Arab Iron and Steel Union holds the fourth technical committee meeting in Bahrain

AISU, News / By user

The Arab Iron and Steel Union held today the fourth technical committee meeting at the headquarters of FOULATH Club in Manama, Kingdom of Bahrain. During this meeting, the opportunities and challenges facing Arab steel companies to achieve carbon neutrality in the iron and steel industry were studied, and a “comparative study of direct reduction technology …

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Steel prices in the fourth week of February 2025

According to the prices announced in the global steel markets, scrap prices amounted to $360/ tonne, unchanged compared to last week’s prices. and iron ore prices $109/ tonne, $3 up compared to last week’s prices. While the prices of billets ranged between 432 – 460 Dollars per tonne, while it was between 430 – 455 …

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EU: First wave of Trump tariffs to hit €28 billion worth of steel, aluminum exports

The European Union estimates that the first wave of U.S. tariffs on steel and aluminum will hit up to €28 billion ($28.3 billion) worth of exports from the bloc, marking a major escalation in U.S. President Donald Trump’s trade war. The amount of goods would be roughly four times larger than the last time Trump …

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Mining companies’ profits fall as China’s demand for steel slumps

The world’s biggest mining companies have benefited from China’s surge in demand for iron ore in the past, but they are now being hit by the economic challenges facing China, their biggest customer. Australia’s BHP Group, Rio Tinto, Fortescue and Brazil’s Vale all reported lower profits this week, as prices for the key steelmaking metal …

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Rio Tinto Reports Lower Results amid Lower Iron Ore Prices

Australia-based miner Rio Tinto has announced its financial results for 2024.The company has posted a net profit of $11.57 billion for 2024, compared to $9.95 billion in the previous year. In 2024, the company’s consolidated sales revenues decreased by 0.7% to $53.66 billion compared to 2023 due to lower prices in line with slowing global …

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Report: US Oil and Gas Industry Between the Hammer of Steel Tariffs and the Anvil of Growth

News, Public Reports / By user

The US oil and gas industry has never been immune to trade policy decisions, but it is currently facing a tough test with the imposition of new tariffs on steel imports. US President Donald Trump announced a 25% tariff on steel imports, the decision included the cancellation of exemptions that mitigated the impact of previous …

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Japan’s Mitsui to buy $5.3 billion stake in Rio Tinto’s iron ore project

Japanese brokerage Mitsui is set to buy a stake in an iron ore exploration project in Australia, becoming a partner of Rio Tinto Group. Mitsui said in a statement on Wednesday that it will acquire a 40% stake in the Rhodes Ridge exploration project in Western Australia for $5.3 billion, according to Bloomberg. It explained …

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El Marakby Steel commissions SMS group to upgrade its mill to increase capacity and reduce operating costs

El Marakby Steel has decided to upgrade its mill in collaboration with SMS Group to boost production capacity and reduce operating costs. Following a comprehensive assessment conducted by SMS Group in 2023, the annual production capacity was increased by 10%, from 400,000 tons to 460,000 tons. As industries and market demands evolve over time, SMS …

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EMSTEEL Announces Comprehensive Decarbonization Strategy, Aligned with the UAE’s Net-Zero by 2050 Strategic Initiative

MSTEEL (‘The Group’, one of the GCC region’s largest publicly traded steel and building materials manufacturers, today unveiled its ambitious decarbonization strategy. The company aims to achieve a 40% reduction in absolute greenhouse gas (GHG) emissions in its Steel Business Unit and a 30% reduction in its Cement Business Unit by 2030, using 2019 as …

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Ashry Steel Group launches Galfa Engineering Industries Factory

In a move that enhances its leadership in the metal industries sector, Ashry Steel Group announced the initial operation of Galfa Engineering Industries Factory, one of the largest factories for the production of lighting poles and structural towers in Egypt, as part of its strategy to support infrastructure and meet the growing demand in the …

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Rebar prices in Egypt February 18, 2025

Rebar prices in Egypt this week ranged between EGP 33,000 – EGP 34,000. 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 34,500, El Komy Steel EGP …

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Officially.. Ezz Steel submits a request for voluntary delisting from the Egyptian Stock Exchange

The Egyptian Stock Exchange said that it received the request for voluntary delisting signed by the legal representative of Ezz Steel shares, for 542.354 million shares with a nominal value of EGP 5 per share from the stock exchange tables, voluntarily delisted in implementation of the decision of the Extraordinary General Assembly. The stock exchange …

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To counter Trump’s tariffs, Britain allocates $3 billion to support the steel industry

The British government has announced plans worth billions of pounds to support the country’s steel industry and ensure its sustainability. The British “PA Media” agency reported that a review has been launched to examine long-term issues facing this sector, such as high electricity costs, unfair trade practices, and recycling scrap metal. In light of US …

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EMSTEEL delivers AED 8.3 billion in revenue for 2024

EMSTEEL announced today its preliminary (unaudited) financial results for Full Year 2024. During 2024, EMSTEEL maintained overall steel production volumes in line with the level attained during 2023. The Group delivered total revenues of AED 8.3 billion, approximately 6% lower than the AED 8.9 billion reported for 2023. This decrease in revenue is due to …

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Vale invests $12.26 billion in Brazil’s Carajas complex by 2030

Brazilian mining company Vale has confirmed plans to invest R$70 billion ($12.26 billion) in its Carajas complex in northern Brazil by 2030. The investment was initially announced by Brazil’s presidential palace, and Vale confirmed the investment plans in a recent statement. The Carajas complex, located in the Brazilian state of Pará, is Vale’s most important …

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Steel prices in the third week of February 2025

According to the prices announced in the global steel markets, scrap prices amounted to $360/ tonne, $5 up compared to last week’s prices. and iron ore prices $106/ tonne, unchanged compared to last week’s prices. While the prices of billets ranged between 430 – 455 Dollars per tonne, while it was between 430 – 445 …

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CISA : US tariff hike on steel imports violates multilateral trade rules

The China Iron and Steel Association said in a statement on Friday that the US move to impose additional tariffs on steel imports violates multilateral trade rules. The association explained that steel is a basic industrial material, and trade protectionism in this sector will undermine the interests of the United States. It added that the …

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Brazil’s Lula vows to retaliate over US steel tariffs

Brazilian President Luiz Inacio Lula da Silva vowed on Friday to “reciprocate” in response to the 25 percent tariffs on steel imports that US President Donald Trump signed an executive order on Thursday. “There is no doubt that there will be reciprocity” from Brazil, the second-largest steel exporter to the United States after Canada, Lula …

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EU countries affirm unity in face of US tariffs

The European Union member states on Wednesday affirmed their unity and determination to defend the European steel and aluminium sector, after US President Donald Trump announced new tariffs imposed by the United States. The issue was discussed during a meeting of foreign trade ministers from the 27-nation bloc, according to Polish Minister Krzysztof Pasek, whose …

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Al Rumaithi: We cover 60% of the local market’s needs for iron products

Engineer Saeed Ghumran Al Rumaithi, CEO of Emsteel Group, stated that the group achieved good performance in 2024, noting the group’s focus on the local market to increase its sales volume in particular, with the launch of new projects, and the group’s success in outperforming many competitors, and achieving growth in its business. Al Rumaithi …

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Japan asks for exemption from US steel, aluminum tariffs

Japan asked the United States on Wednesday to exempt it from tariffs imposed by President Donald Trump on steel and aluminum exports, a Tokyo government spokesman said. Trump signed an executive order imposing 25 percent tariffs on steel and aluminum imports starting March 12, sparking angry reactions internationally including from Canada, Mexico and the European …

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Iron ore prices rise by about 2% due to disruption of shipping traffic in Australia

Iron ore prices rose during Wednesday’s trading, amid disruption of shipping traffic in Australian ports due to bad weather conditions, and expectations of a recovery in demand in the short term, especially in China. Iron ore futures for March delivery on the Singapore Exchange rose by 1.80% to $107.80 per tonne at 12:50 pm Mecca …

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US steel tariffs raise concerns for steel exporters in Egypt

The new 25% tariffs imposed by US President Donald Trump on all steel and aluminum imports are raising concerns and anxiety among steel exporters around the world, especially Egypt, as the US market is the sixth largest market for Egyptian steel exports by the end of 2024. Despite the importance of the US market to …

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Trump considers exempting Australia from steel tariffs

US President Donald Trump has agreed to consider exempting Australia from steel and aluminium tariffs in light of the country’s trade surplus with the United States, following a phone call with Prime Minister Anthony Albanese. Trump sharply raised tariffs on steel and aluminium imports on Monday, eliminating exemptions and quotas for major suppliers. His decision …

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Rebar prices in Egypt February 11, 2025

Rebar prices in Egypt this week ranged between EGP 33,000 – EGP 34,000. 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 34,000, El Komy Steel EGP …

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EU, Canada denounce Trump’s decision to impose tariffs on steel and aluminum

The European Union and Canada have strongly condemned US President Donald Trump’s decision to impose tariffs on steel and aluminum, in a new phase of the trade war he has launched since taking office. In contrast to these firm responses, Seoul announced its intention to “protect” the interests of local companies, while Britain confirmed that …

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Shares of Chinese steelmakers fall on Trump’s new tariffs

Shares of major steelmakers listed on China’s stock exchange fell on Tuesday, as concerns mounted about the potential impact on steel exports this year from new tariffs imposed by US President Donald Trump. Trump sharply raised tariffs on steel and aluminium imports on Monday to 25 percent “without exceptions or exemptions” in a move to …

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Trump imposes 25% tariffs on steel, aluminum imports

US President Donald Trump has ordered a 25% tariff on steel and aluminum imports, stepping up his efforts to protect key US industries. The tariffs will apply to all steel and aluminum imports from the US, including from Canada and Mexico, the country’s biggest suppliers of the metals. While the new duties will cover finished …

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Danieli achieves new technological milestone with 145mm thick slab casting at Yukun

Chinese steelmaker Yukun Iron and Steel Group succeeded in producing 145-mm-thick slabs at its new Danieli QSP-DUE plant at Yuxi, Yunnan province. Such a groundbreaking milestone was achieved by using a 152-mm funnel mould, confirming the Danieli-patented DySen caster as benchmark slab-casting technology. Increased slab thickness means improved overall strip quality thanks to a higher …

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Qatar Steel and Bahrain Steel Sign $1.266 Billion Supply Agreement

The Ministry of Commerce and Industry in Qatar announced the signing of an agreement between Qatar Steel and Bahrain Steel, worth $1.266 billion, covering 5 million metric tons over five years, which will enhance industrial cooperation between the two sides and strengthen the steel industry in the region. The ministry stated in a statement that …

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