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 »
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 »
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 »
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 »
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 »
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 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 »
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 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 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 …
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 »
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 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, …
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 »
The Iron and Steel Company for Mines and Quarries announced that it achieved total sales in last December amounting to EGP 128.97 million. The company explained, in a statement to the Egyptian Stock Exchange, that the sales of the Bahariya Oasis mines in November amounted to EGP 128.58 million. It added that the value of …
Egypt: EGP 129 million in iron and steel sales for mines in December Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $349/ tonne, $9 up compared to last week’s prices. and iron ore prices $105/ tonne, unchanged from last week’s prices. While the prices of billets ranged between 430 – 445 Dollars per tonne, while it was between 435 – 455 dollars …
Ezz Steel Company announced stability in prices starting from February 1, 2025 for the Fifth consecutive month at EGP 38,200 EXW, including value-added tax. Statement including VAT Rebar 38,200 EGP 1 USD = 50.28 EGP
In December, Turkey’s iron and steel exports ranked sixth among the country’s products with the highest export value, totaling $928.05 million, up by 11.3% year on year. According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK). Meanwhile, in the given month the value of exports of articles of iron or …
SMS Group announced the signing of a MoU with Ansteel Group in the field of “dual-carbon” initiatives, focusing on carbon peak and neutrality goals. They aimed to deepen cooperation in products, technologies, and projects to advance and innovate green steel technologies, thereby supporting the sustainable development of the global steel industry. The MoU was signed …
Saudi Iron and Steel Company (Hadeed) has released its long steel prices for February deliveries. The price of rebar (12-32 mm) remains unchanged at SAR 2,400 (USD 639) per ton, while wire rod (6.5-16 mm) has been reduced by SAR 70 (USD 18) per ton to SAR 2,370 (USD 631) per ton. Above prices are …
Hadeed updates long steel prices for February deliveries Read More »
The Brazilian miner, Vale, produced 328 million mt of iron ore in 2024, exceeding the target range of 310-320 million mt established for the year. The production of iron ore pellets in the year achieved 37 million mt, 1.2% higher than in 2023, but slightly lower than the target of 38 million mt established for …
Vale exceeds its iron ore production target for 2024 Read More »
Tata Steel claimed that it has become India’s first steel company to develop pipes for hydrogen transportation, marking a significant milestone in the country’s hydrogen mission. The pipes, processed at Tata Steel’s Khopoli plant using steel manufactured at its Kalinganagar plant, have successfully met all the critical properties required for hydrogen transportation, the company said …
Tata Steel becomes India’s first to develop hydrogen transport pipes Read More »
The rebar market in Saudi Arabia witnessed a decline in prices in most months of the year 2024 compared to the same period in 2023. The average price of rebar in 2024 amounted to about 2903.81 riyals, a decrease of 3.1% compared to the average price of the same rebar in 2023, which amounted to …
According to the latest report issued by the World Steel Organization on crude steel production. Arab countries’ crude steel production in December 2024 amounted to 3.7 million tons, an increase of 3.2% compared to December 2023. Egypt topped Arab countries in steel production in December with a production volume of 991.2 thousand tons, an increase …
Arab countries’ crude steel production to rise by 2.6% in 2024 Read More »
In a historic achievement that is considered a turning point in the Egyptian mining industry, Sun Rise, a leading company in the field of exporting and recycling industrial waste, announced the signing of an agreement with the Egyptian Iron and Steel Company for Mines and Quarries to export iron ore to China during 2025. This …
Sun Rise Paves the Way for Iron Ore Exports in Egypt Read More »
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 36,800, Misr Steel EGP 33,500, El Komy Steel EGP 32,700, …
Emirates Steel, a part of the EMSTEEL group, has announced stable rebar prices for February production. The 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 offered at AED 2,668 (USD 726) per ton. These prices are exclusive …
Emirates Steel maintains rebar prices for February 2025 Read More »
The United Arab Emirates, represented by the Ministry of Finance, has successfully concluded the final round of negotiations for Double Taxation Avoidance Agreement on income and capital with the Russian Federation. This milestone underscores the UAE’s commitment to strengthening economic and tax cooperation, fostering a business-friendly environment that protects taxpayers’ rights, prevents double taxation, and …
UAE, Russia hold final round of negotiations for Double Taxation Avoidance Agreement Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $340/ tonne, $7 up compared to last week’s prices. and iron ore prices $105/ tonne, $1 up compared to last week’s prices. While the prices of billets ranged between 435 – 455 Dollars per tonne, while it was between 435 – …
Some steelmakers in Canada and Mexico have told customers they are turning down new orders from the United States over concerns that President Donald Trump will soon reimpose tariffs. Canadian steelmaker Steelco Inc. has told U.S. consumers it has halted sales offers, according to a person familiar with the matter. Steel suppliers in Mexico also …
Steelmakers in Canada, Mexico Refuse Down New U.S. Orders Read More »