Arab Steel Summit

user

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

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

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

Steel prices in the third week of February 2025 Read More »

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

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

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

Brazil’s Lula vows to retaliate over US steel tariffs Read More »

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

EU countries affirm unity in face of US tariffs Read More »

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

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

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

Japan asks for exemption from US steel, aluminum tariffs Read More »

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

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

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

US steel tariffs raise concerns for steel exporters in Egypt Read More »

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

Trump considers exempting Australia from steel tariffs Read More »

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

Rebar prices in Egypt February 11, 2025 Read More »

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

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

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

Shares of Chinese steelmakers fall on Trump’s new tariffs Read More »

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

Trump imposes 25% tariffs on steel, aluminum imports Read More »

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

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

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

Qatar Steel and Bahrain Steel Sign $1.266 Billion Supply Agreement Read More »

Trump intends to impose 25% tariffs on steel and aluminum imports

US President Donald Trump said he will impose additional customs duties of 25% on his country’s imports of steel and aluminum from all countries of the world. Trump said in press statements aboard the presidential helicopter yesterday, Sunday, that the new duties will be applied in addition to the existing tariff on metal imports, according

Trump intends to impose 25% tariffs on steel and aluminum imports Read More »

Trump: Japan’s Nippon Steel to invest in US Steel instead of acquiring it

US President Donald Trump said that Japanese steel company Nippon Steel will not buy US Steel as planned, and that the Japanese company will instead invest in the symbolically important US company. Trump said at a news conference with Japanese Prime Minister Shigeru Ishiba that Nippon Steel “will do something very exciting with U.S. Steel,”

Trump: Japan’s Nippon Steel to invest in US Steel instead of acquiring it Read More »

Steel prices in the second week of February 2025

According to the prices announced in the global steel markets, scrap prices amounted to $355 / tonne, $6 up compared to last week’s prices. and iron ore prices $106/ tonne, $6 up compared to last week’s prices. While the prices of billets ranged between 430 – 445 Dollars per tonne, while it was between 430

Steel prices in the second week of February 2025 Read More »

Qatar Steel’s sales of DRI/HBI increased by 167% in 2024

In 2024, Qatar Steel’s sales volume amounted to approximately 2.7 million tons of various products, an increase of 38.1% year-on-year, according to the corporate report. DRI/HBI came in first place with a volume of approximately 1.4 million tons and a percentage of 53% of the sales volume and an increase of 167% compared to sales

Qatar Steel’s sales of DRI/HBI increased by 167% in 2024 Read More »

Japan seeks exemption from India’s potential steel import tax

At the third India-Japan Steel Dialogue in New Delhi this week, Japan asked India to exempt it from a proposed safeguard duty that India is considering to curb the flow of steel imports. The request, which is aimed at protecting supplies of specialty steel alloys essential to Indian industries, was made. A probe into whether

Japan seeks exemption from India’s potential steel import tax Read More »

ArcelorMittal Steel Narrows Its Loss in Q4 of 2024

Luxembourg-based steelmaker ArcelorMittal announced that its losses in the fourth quarter of 2024 narrowed compared to the same quarter in 2023, supported by improved sales. The company’s board of directors proposed increasing the annual basic dividend to shareholders to $0.55 per share in fiscal 2025, compared to $0.50 per share last year, to be paid

ArcelorMittal Steel Narrows Its Loss in Q4 of 2024 Read More »

EMSTEEL Expands Regional Collaboration with UAE-Oman Raw Material Logistics Agreement

Emsteel Group has forged strategic partnerships to pioneer streamlined raw material transport and cross-border rail connectivity in the GCC, while fostering economic collaboration between the UAE and Oman. The landmark agreements highlight a shared commitment to efficient, sustainable transportation of raw materials critical to EMSTEEL’s cement production, while also aligning with the UAE’s Operation 300bn

EMSTEEL Expands Regional Collaboration with UAE-Oman Raw Material Logistics Agreement Read More »

Iron and Steel Mines’ profits jump 110% to EGP 155 million in the first half

The financial indicators of Iron and Steel Mines and Quarries Company revealed, for the first half of the current fiscal year, a 110% increase in the company’s profits, on an annual basis. The company explained in a statement to the Egyptian Stock Exchange that it recorded a net profit of EGP 154.91 million during the

Iron and Steel Mines’ profits jump 110% to EGP 155 million in the first half Read More »

Iron ore prices rise more than 2% on Australian supply disruption concerns

Iron ore prices rose on Australian supply disruption concerns due to the hurricane season. March iron ore futures on the Singapore Exchange rose 2.16% to $150.95 per tonne at 10:52 a.m. Mecca time. According to a note issued by the Chinese consulting firm Hexun Futures, Australia is currently experiencing a hurricane season, which threatens to

Iron ore prices rise more than 2% on Australian supply disruption concerns Read More »

Fujian Kebao commissions SMS group to supply state-of-the-art tinplate lines to enter food packaging market

Fujian Kebao Metal Products Co., Ltd., a subsidiary of Fujian Sanbao Group, has awarded SMS contracts for two tinplate continuous annealing lines (TIN CALs). This marks a significant step in Sanbao Group’s effort to expand into the high-end, food-grade tinplate market, addressing the growing domestic and global demand. The two lines will be installed at

Fujian Kebao commissions SMS group to supply state-of-the-art tinplate lines to enter food packaging market Read More »

Turkish rebar exports stable in 2024, Yemen in the lead

In December last year, Turkey’s rebar export volume increased by 4.2% year on year and by 16.1% month on month to 360,954 metric tons, according to the data provided by the Turkish Statistical Institute (TUIK). The value of these exports totaled $206.35 million, up 4.7% year on year and by 14.4% month on month. In

Turkish rebar exports stable in 2024, Yemen in the lead Read More »

Posco reports Q4 net loss due to weak steel demand and lower prices

South Korean steelmaker, Posco Holdings, reported a net loss for the fourth quarter of 2024, missing market expectations. The loss was due to lower steel and energy material prices, which put substantial pressure on the company’s profit margins. Looking at the full year, Posco’s net profit nearly halved to 948.00 billion won, and operating profit

Posco reports Q4 net loss due to weak steel demand and lower prices Read More »

Rebar prices in Egypt February 03, 2025

Rebar prices in Egypt this week ranged between EGP 33,000 – EGP38,200. 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 32,500,

Rebar prices in Egypt February 03, 2025 Read More »

Libyan Iron and Steel Company Discusses Modernization of Steel Plants with Danieli

Libyan Iron and Steel Company held a meeting with experts from the Italian company “Danieli”, attended by company officials and a team of technical experts, to discuss plans to develop a slab casting machine and establish a new crucible furnace in Steel Plant 2. The meeting witnessed extensive discussions on the latest technologies used globally

Libyan Iron and Steel Company Discusses Modernization of Steel Plants with Danieli Read More »