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 – …
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 …
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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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 …
The Ministry of Economic Development of the Russian Federation has announced that it has extended the ferrous waste and scrap quota for exports outside the Eurasian Economic Union (EAEU), setting the quota volume at 1.5 million mt for 2025. According to the resolution, the export quota will be valid between January 1 and December 31. …
Rebar prices in Egypt this week ranged between EGP 34,000 – 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 36,800, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,800, Misr Steel EGP 34,700, El Komy Steel EGP 34,500, …
Al-Oula Steel Manufacturing Company announced its official entry into the subsidized building materials market in Kuwait, in line with Ministerial Resolution No. 222 of 2024 issued by the Ministry of Commerce and Industry, which is considered an important step to reduce the financial burdens on coupon owners. The new resolution aims to achieve greater efficiency …
Al-Oula Steel enters the subsidized building materials market in Kuwait Read More »
India’s imports of finished steel from China hit an eight-year high, raising concerns among domestic steelmakers. The government has launched an investigation into whether to impose safeguard duties on steel imports to protect the domestic industry. The Indian Steel Association said in a statement published by Platts that the surge in imports has caused “serious …
India’s imports of Chinese steel hit 8-year high Read More »
Japan’s industry minister said US President Joe Biden’s decision to block Japanese steel giant Nippon Steel from acquiring US steel giant US Steel was “regrettable and incomprehensible”. Japan’s Minister of Economy, Trade and Industry Yuji Muto said in a statement that “it is incomprehensible and regrettable that the Biden administration would make such a decision …
Tokyo regrets decision to block US Steel acquisition Read More »
The Malaysian Iron and Steel Industry Federation (MISIF) has called on the Malaysian government to review its decision to increase electricity base tariffs from 39.95 sen/Kwh to 45.62 sen/Kwh despite repeated calls from the steel industry for more competitive electricity pricing, given the severe challenges faced by the sector and its ongoing efforts to decarbonize. …
Malaysian steel industry calls for lower electricity prices amid decarbonization efforts Read More »
Italian plantmaker Danieli has announced that it has received an order from South Korea-based steel producer POSCO for a new electromagnetic stirrer to be installed on its slab caster No. 1 at its second plant at the Gwangyang Works. The new electromagnetic stirrer using Danieli’s MM®-EMS technology will replace the existing mould technology to produce …
POSCO orders new electromagnetic stirrer from Danieli Read More »
US President Joe Biden has blocked the $14.1 billion sale of United States Steel to Nippon Steel, halting a deal that has sparked a political firestorm and tensions between the United States and Japan. Biden made his formal decision on Friday after the case was referred to him by a US security review board, ahead …
Biden blocks sale of US Steel to Japan’s Nippon Steel Read More »
Maghreb Steel , the largest producer of flat steel in Morocco, reported a 10% increase in revenues in the period from January to September 2024 compared to the same period last year, driven by strong domestic sales. The company’s sales revenues increased to MAD 3.854 billion (US$ 375 million) between January and September 2024, compared …
Maghreb Steel’s Revenue Increases in January-September 2024 Read More »
The Chairman of the Board of Directors of the Libyan Iron and Steel Company, Dr. Muhammad Al-Faqih, announced that the three direct reduction plants combined achieved unprecedented record figures in 2024. Al-Faqih explained in a visual statement on its Facebook page that the production of the three plants amounted to one million and 768 thousand …
Libyan Iron and Steel Company announces unprecedented production figures in 2024 Read More »
China looks set to miss its target set by the end of last year to boost production of cleaner steel, as the use of newer, cleaner furnaces has slowed due to a property crisis that has weighed on demand and prices. China is the world’s biggest polluter and steel producer, and efforts to clean up …
Property crisis threatens China’s goal of cleaner steel Read More »
Saudi Iron and Steel Company (Hadeed) announced unchanged prices for long steel products for January 2025 deliveries. The price of rebar (12-32 mm) remained at SAR 2,400 ($639) per tonne, and wire rod prices (6.5-16 mm) will remain stable at SAR 2,440 ($649) per tonne. The above prices are based on Riyadh CPT, excluding 15% …
Saudi Iron and Steel Company (Hadeed) maintains rebar prices for January 2025 Read More »
The Washington Post reported that Japan’s Nippon Steel has offered a 10-year guarantee not to cut production at any US Steel plants without federal approval, in an attempt to complete its planned purchase of the US steelmaker. The newspaper said that Nippon Steel has proposed giving the US government veto power over any potential capacity …
Washington Post: Nippon Steel pledges not to cut US steel production for 10 years Read More »
SSAB, one of the world’s most carbon-efficient steel companies, has chosen SMS group for the construction of a new 190-ton EAF, which is set to be one of the largest installations in the world with an upper shell diameter of 9.3 meters. The new EAF, located in Oxelösund, has its first heat scheduled for the …
SMS group and SSAB advancing together in the green steel Read More »
Rebar prices in Egypt this week ranged between EGP 34,000 – 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 36,800, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,800, Misr Steel EGP 34,700, El Komy Steel EGP 34,500, …
Aamal Company, listed on the Qatar Stock Exchange, announced that its Board of Directors approved increasing its stake in Frijns Steel Construction Middle East by acquiring an additional 20% stake from a related party. According to the company’s statement on the Qatar Stock Exchange today, Tuesday, this deal comes in line with the company’s efforts …