Rebar prices in Egypt this week ranged between EGP 32,500 – 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
Rebar prices in Egypt March 03, 2025 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $364/ tonne, $4 up compared to last week’s prices. and iron ore prices $103/ tonne, $6 down compared to last week’s prices. While the prices of billets ranged between 435 – 465 Dollars per tonne, while it was between 432 –
Steel prices in the first week of March 2025 Read More »
New US tariffs on steel are expected to disrupt a massive supply chain, worth billions of dollars, that relied on rerouting Chinese steel to the United States via intermediary countries. This will increase competition in the global market and could undermine a key source of revenue for China’s struggling steel sector. Due to trade restrictions
New US tariffs increase pressure on China’s steel exports Read More »
Ezz Steel Company announced stability in prices starting from March 1, 2025 for the Sixth 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 March 2025 Read More »
Iron ore futures fell, heading for a monthly loss, pressured by concerns over U.S. tariffs that are fueling trade tensions against Chinese steel exports. Iron ore futures for April delivery on the Singapore Exchange fell 1.45% to $102.85 a tonne, extending their monthly losses to more than 0.6% so far. The U.S. president confirmed in
Iron ore prices set to fall as trade tensions escalate Read More »
French President Emmanuel Macron said the European Union would impose “reciprocal tariffs” on steel and aluminium and would decide later on other products if the United States imposed 25% tariffs on European products. The French president said during a joint press conference in Porto with Portuguese Prime Minister Luis Montenegro that if the US tariffs
Macron: EU to impose ‘reciprocal’ tariffs on steel, aluminium Read More »
EMSTEEL has announced the launch of its Asset Enhancement Programme – a strategic initiative with a CapEx of approximately AED 625 million, designed to enhance production capabilities and introduce advanced steel solutions to meet growing market demands. The programme directly aligns with the UAE’s Operation 300bn, aiming to upscale innovation in the UAE’s industrial sector
Saudi Iron and Steel Company (Hadeed) has lowered its long steel prices by SAR 50 (USD 13) per ton for March deliveries. The new pricing sets rebar (12-32 mm) at SAR 2,350 (USD 626) per ton, while wire rod (6.5-16 mm) is now priced at SAR 2,320 (USD 618) per ton. The company has set
Saudi Iron and Steel Company – Hadeed cuts rebar prices for March deliveries Read More »
Libya intends to become a supplier of direct reduced iron (DRI) in the Mediterranean basin and beyond with the announcement of a DRI complex based on MIDREX Flex® technology to be built in the Benghazi region. TOSYALI SULB Steel Industries, which was formed by TOSYALI and Libya United Steel Company for Iron & Steel Industry
TOSYALI SULB awards order to Midrex and SMS group for DRI complex Read More »
French authorities announced on Monday evening that European industry ministers will hold an extraordinary meeting in Paris on Thursday to discuss ways to “ensure the continuity” of steel production in Europe after the United States imposed heavy tariffs on its steel imports. The European steel industry, which employs more than 300,000 people, is concerned after
The profits of the National Iron and Steel Company – Watani Steel , which works in the production and manufacture of iron blocks and reinforcing steel, rose to 9.9 million riyals by the end of 2024, compared to profits of 4.2 million riyals achieved in the same period in 2023. Item 2023 2024 Change Revenue
Saudi Arabia: Watani Steel profits 9.9 million riyals by the end of 2024 Read More »
Emirates Steel, a subsidiary of the EMSTEEL Group, has announced that rebar prices for March production will remain unchanged. The company’s price for rebar deliveries to Abu Dhabi is set at AED 2,660 (USD 724) per ton, while shipments to Dubai, Sharjah, and the Northern Emirates are priced at AED 2,668 (USD 726) per ton.
Emirates Steel keeps rebar prices unchanged for March Read More »
Rebar prices in Egypt this week ranged between EGP 32,700 – 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 34,000, El Komy Steel EGP
Rebar prices in Egypt February 24, 2025 Read More »
Iron ore prices turned steady on Monday, after falling on expectations of shrinking Chinese demand following Vietnam’s imposition of temporary anti-dumping duties on steel imports from Beijing, in addition to the new US administration implementing its protectionist agenda. March iron ore futures on the Singapore Exchange were steady at $108.40 per metric ton at 11:47
Iron ore prices steady on expectations of shrinking Chinese demand Read More »
Vietnam is set to impose anti-dumping duties on steel from China, joining South Korea and other countries as they grapple with surging supplies from the world’s largest producer. The Southeast Asian nation will impose temporary duties on some types of hot-rolled steel coils starting in early March, the Ministry of Industry and Trade said in
Vietnam’s New Steel Tariffs on China Add to Market Pain Read More »
Lieutenant General Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, paid an inspection visit to Arcosteel factory in Sadat City, one of the most important factories for producing special steel bars and coils in Egypt and the Middle East.. to follow up on the progress of work and
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
Arab Iron and Steel Union holds the fourth technical committee meeting in Bahrain Read More »
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
Steel prices in the fourth week of February 2025 Read More »
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
EU: First wave of Trump tariffs to hit €28 billion worth of steel, aluminum exports Read More »
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
Mining companies’ profits fall as China’s demand for steel slumps Read More »
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
Rio Tinto Reports Lower Results amid Lower Iron Ore Prices Read More »
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
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
Japan’s Mitsui to buy $5.3 billion stake in Rio Tinto’s iron ore project Read More »
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
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
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
Ashry Steel Group launches Galfa Engineering Industries Factory Read More »
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
Rebar prices in Egypt February 18, 2025 Read More »
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
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
To counter Trump’s tariffs, Britain allocates $3 billion to support the steel industry Read More »
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
EMSTEEL delivers AED 8.3 billion in revenue for 2024 Read More »