The Minister of Industry and Pharmaceutical Production, Dr. Seifi Ghrib, visited the Algerian-Qatari Steel Company on Thursday, January 16, 2025, accompanied by the Wali of Jijel, and a number of national and local figures. They were received by the CEO of the National Iron and Steel Company, Mr. Adel Khaman, the CEO of the Algerian-Qatari
Australian authorities have closed Port Hedland, the country’s largest iron ore export hub, due to a tropical cyclone developing off the coast of Western Australia’s Pilbara region. The Pilbara Ports Authority, which operates the port, has ordered all cargo ships to leave the port by 6pm local time, amid expectations that two tropical depressions will
Australia closes major iron ore export ports due to tropical cyclone Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $333/ tonne, $11 down compared to last week’s prices. and iron ore prices $104/ tonne, $6 up compared to last week’s prices. While the prices of billets ranged between 435 – 455 Dollars per tonne, while it was between 435 –
Steel prices in the third week of January 2025 Read More »
Moody’s credit rating agency expects economic growth in most countries of the Middle East and North Africa region to accelerate during the current year, supported by the recovery of oil production and the progress of investment projects. The agency estimated in its report that economic growth in the Middle East and North Africa region will
Moody’s expects economic growth in Middle East countries to accelerate in 2025 Read More »
Saudi Iron and Steel Company (Hadeed) revealed strategic acquisitions and investments worth 25 billion riyals to support Saudi Vision 2030 projects, as part of the strategic announcement package for the International Mining Conference in Riyadh. Hadeed also revealed, on the sidelines of the International Mining Conference in Riyadh, the company’s plans to produce 10 million
According to the notification received by the World Trade Organization, Morocco has decided to end safeguard measures on imports of cold rolled sheets and plated or coated sheets applicable as of December 31, 2024. The measures have been implemented for ten years. The safeguard measures consist of an additional ad valorem duty of 13.75 percent
Morocco terminates safeguard measures on CRS and coated sheets after 10 years Read More »
The Arab Energy Organization (formerly OAPEC) expects global oil prices to rise, amid efforts by refineries, especially in Asia, to search for new sources of supply. The Secretary-General of the organization, Jamal Al-Loughani, said today, Wednesday, January 15, 2025, that the decision to tighten US economic sanctions on the energy sector in Russia played a
Arab Energy Organization expects oil prices to rise Read More »
Al Jazeera Steel Company, operating in the iron pipes industry, profits rose to OMR 7.10 million (57 baisas/share) by the end of 2024, compared to profits of OMR 4.10 million achieved in the same period in 2023, as shown in the following table: income list Period September 2023 September 2024 Change Revenues (million Omani Riyals)
Al Jazeera Steel profits rise to OMR 7.10 million (+73%) by the end of 2024 Read More »
The steel industry faces major challenges related to climate change and the need to reduce the carbon footprint, which has long been accused of being one of the main influencers of environmental pollution. It must be acknowledged that the largest countries in the world have made international public opinion aware of the need to take
Carbon Neutrality in the Arab Steel Industry Read More »
The Financial Regulatory Authority said that Ahmed Ezz, the main shareholder in Ezz Steel, filed a grievance against the exclusion of his shares and the shares of parties related to him from voting on the decisions of the extraordinary general assembly to voluntarily delist the company’s shares. Ahmed Ezz owns more than 68% of Ezz
Ezz Steel shares jumped more than 5% at the start of trading on Tuesday, topping the Egyptian Stock Exchange after announcing the optional delisting price. By 10:45 am Cairo time, the stock rose 5.08% to EGP 126.8 with EGP 182 million in trading. Ezz Steel decided to set the purchase price for the delisted shares
Egypt: Ezz Steel shares jump more than 5% to top trading Read More »
Iron ore prices have topped $100 a tonne again after data showed China’s annual imports of the steel-making metal hit a record high and the country’s trade surplus soared, with futures in Singapore rising more than 4% for a fourth straight day. Iron ore futures rose 1.6% to $100.35 a tonne in Singapore, while in
Iron ore rises as demand outlook boosted by China imports Read More »
Rebar prices in Egypt this week ranged between EGP 32,700 – 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 36,800, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,800, Misr Steel EGP 34,500, El Komy Steel EGP 34,000,
Rebar prices in Egypt January 14, 2025 Read More »
In 2024, China’s iron ore imports reached 1.24 billion mt, up 4.9% year on year, according to the latest data released by China’s General Administration of Customs (GACC). This happened even though overall crude steel production posted a negative trend with a 2.7% decline in the first 11 months of the year. Iron ore port
China’s iron ore imports increase by 4.9% in 2024 Read More »
In November last year, Turkey’s billet and bloom imports amounted to 474,977 metric tons, down by 24.4% compared to October and up by 100.8% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these imports totaled $244.84 million, decreasing by 26.7% compared to the
Turkey’s billet imports up by13.5% in January – November 2025 Read More »
In 2024, China’s finished steel exports rose by 22.7% year on year to 110.716 million mt, compared to a 22.6% increase in the first 11 months of the year. The 2024 figure represents a nine-year high, after steel exports peaked at 112 million mt in 2015. The total figure for 2024 was even higher than
China’s steel exports exceed 110 million mt in 2024 Read More »
Malaysia has imposed provisional anti-dumping duties on some exports of flat-rolled iron products or non-alloy steel from China, India, Japan and South Korea, the trade ministry said. The duties, which take effect from Jan. 11 and initially run for up to 120 days on products with a width of more than 600 mm (24 inches),
Malaysia clamps anti-dumping duties on iron, steel from four nations Read More »
The Biden administration has delayed an executive order for Nippon Steel to abandon its $14.9 billion bid for US Steel until the current takeover contract expires in June. “We are pleased that the Committee on Foreign Investment in the United States has granted an extension until June 18 of the requirement in President Biden’s executive
Nippon Steel’s US Steel takeover block delayed until June Read More »
A group of Qatari investors are discussing with an Egyptian investor the establishment of a new iron and steel factory with initial investments of up to $100 million, with the target to start operations early next year, according to Al Borsa newspaper. The local investor is set to provide the land and construction in exchange
Egyptian-Qatari alliance plans to invest $100 million in iron and steel factory Read More »
Ezz Steel Company announced the fair value study of the company’s share prepared by BDO Keys Financial Consulting Company for Securities. According to today’s disclosure, Monday, the study concluded that the fair value of Ezz Steel’s share is EGP 138.15, using the weighted average of the income and market approaches. Ezz Steel Company confirmed that
Egypt: “Ezz Steel” announces the fair value of the company’s share Read More »
Morocco is preparing to apply a set of new technical standards on imported iron and steel products, with the aim of protecting the national economy from unfair practices. This step comes at a time when local industries are facing major challenges as a result of unfair trade practices from some countries. Starting from January 21,
To combat dumping, Morocco applies new standards on iron and steel imports Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $344/ tonne, $5 down compared to last week’s prices. and iron ore prices $98/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 435 – 460 Dollars per tonne, while it was between 440 –
Steel prices in the second week of January 2025 Read More »
According to preliminary census data from the US Department of Commerce, US monthly steel imports in November this year down 15.8% from October and up 1.8% year on year to total 1,877,661 mt. In terms of value, US steel imports in November totaled $2.27 billion, compared to $2.53 billion in October and $2.21 billion in
US steel imports down 15.8% in November 2024 Read More »
In November last year, Turkey’s hot rolled coil (HRC) imports amounted to 366,419 metric tons, up by 32.9% compared to October and by 30.3% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the value of these imports totaled $204.22 million, increasing by 23.4% compared to the previous
Turkey’s HRC imports down 16.0% in January – November 2024 Read More »
Oil prices rose 4% at the end of trading on Friday, January 10 (2025), continuing to reap gains for the second consecutive session, amid indications of increased global demand. Oil markets achieved gains for the third consecutive week, with increased demand for fuel for heating purposes, due to icy conditions in parts of the United
Oil prices rise 4%, Brent crude touches $80 per barrel Read More »
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Protected: Arab Steel Magazine November – December 2024 Read More »
As Japan’s Nippon Steel scrambles to persuade the incoming US administration, led by Donald Trump, to reconsider its controversial $15 billion acquisition of US Steel, the company’s chairman and CEO has issued an important warning: Tariffs alone won’t boost the US steel industry. In his first public appearance since US President Joe Biden blocked the
Nippon Steel warns Trump: Tariffs won’t boost US steel industry Read More »
Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, stressed the keenness to continue developing housing services provided to citizens, considering the social housing sector one of the vital sectors that receive priority, in light of the comprehensive development process led by His Majesty King Hamad bin Isa Al Khalifa, King of the
Bahrain: Construction work to start on 372 units in Khalifa City this month Read More »
Iron ore futures fell on Monday to their lowest in more than a month, as market sentiment weakened over demand from the world’s second-largest economy. The most active May iron ore contract on the Dalian Exchange closed down 2.21% at 751.5 yuan ($102.54) a tonne, the lowest close since Nov. 19. On the Singapore Exchange,
Iron ore futures fall to lowest in more than a month Read More »
The Iron and Steel Company for Mines and Quarries announced its success in exporting its first shipment abroad in late November, and work is underway to load the export products during December. The company explained in a disclosure that the total export shipments reached 150 thousand tons, with 3 export shipments. It is noteworthy that