“China could start selling its products to Europe at lower prices if the United States starts a trade war with new tariffs,” Klaus Knot, a member of the European Central Bank’s governing council, said. In such a case, “there is a chance that the Chinese will start offering their goods in Europe at lower and …
ECB: Trade war could spread China’s deflation to Europe Read More »
The US Department of Commerce (DOC) has announced the final results of the sunset reviews of the antidumping duty (AD) orders on rebar from Belarus, China, Indonesia, Latvia, Moldova, Poland, and Ukraine. The DOC found that revocation of the antidumping duty orders on the given product from the given seven countries would likely to lead …
US to continue AD duty on rebar from 7 countries Read More »
In November this year, Japan’s iron and steel product exports amounted to 2.49 million metric tons, decreasing by 1.3% month on month and 3.7% year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-November period this year, Japanese iron and steel product exports amounted to …
Japan’s steel exports down 4.1% in January-November 2024 Read More »
Japan’s Ministry of Economy, Trade and Industry forecast the country’s crude steel output to fall 2.4% in the first three months of 2025 due to slowing demand from the manufacturing and construction sectors. The forecast is expected to lower the world’s third-largest steel producer’s output for the fiscal year ending March 31 to 83.72 million …
Japan’s crude steel output forecast to fall 2.5% in Q1 2025 Read More »
ROSHN Group, a subsidiary of the Saudi Public Investment Fund, has laid the foundation stone for the Al-Manar project, its first integrated residential community in Makkah. The community is only 20 minutes away from the Grand Mosque, less than an hour from King Abdulaziz International Airport in Jeddah, and two minutes from the western gate …
According to the prices announced in the global steel markets, scrap prices amounted to $350/ tonne, $1 down compared to last week’s prices. and iron ore prices $99/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 440 – 465 Dollars per tonne, while it was between 440 – …
Steel prices in the fourth week of December 2024 Read More »
Emirates Steel, part of the EMSTEEL group, has increased rebar prices for January 2025 production by AED 50 (USD 13) per ton. The revised prices are set at AED 2,660 (USD 724) per ton for deliveries to Abu Dhabi and AED 2,668 (USD 726) per ton for shipments to Dubai, Sharjah, and the Northern Emirates. …
Emirates Steel announces January 2025 rebar prices with an increase AED 50 Read More »
Iron ore prices fell to their lowest in more than 5 weeks after industrial company earnings data in China showed the country’s economy continued to weaken. Chinese data showed industrial company profits fell for a fourth straight month, on track for their worst annual decline since records began in 2000. Singapore-traded iron ore futures fell …
Iron ore prices fall to lowest in more than 5 weeks Read More »
Mr. Walid Gamal El-Din, Chairman of the General Authority of the Suez Canal Economic Zone, initialed a contract with Mr. Rafik Boulos Daou, Vice President and Managing Director of Suez Steel Company S.A.E. This contract stipulates that the Suez Canal Economic Zone grants Suez Steel Company a commitment area within the Adabiya Port with a …
The results of Al Yamamah Steel Industries Company, for the fiscal year ending on September 30, 2024, revealed the company’s turn to profitability compared to the net losses incurred by the company in the previous year. According to the company’s data, on “Tadawul”, today, Thursday, the company recorded a net profit of 70.8 million riyals, …
“Al Yamamah Steel” turns to profitability in the fiscal year ending in September 2024 Read More »
Iron ore prices edged up slightly as Chinese steel mills built up inventories in preparation for a spring resumption. Singapore iron ore futures rose 1.2% on Thursday, after falling earlier in the month as producers scaled back off-season operations during the winter. Output from major mills fell to the lowest in about three months, data …
Iron ore recovers some losses as mills rebuild inventories Read More »
In November this year, China’s stainless steel imports amounted to 130,200 mt, down 17.71% month on month, while declining by 1.82% year on year, according to China’s customs authorities. In November, China’s stainless steel exports totaled 439,300 mt, down 5.25% month on month, while rising by 22.96% year on year. In the January-November period this …
China’s stainless steel exports up 20.43% in Jan-Nov 2024 Read More »
Building materials prices varied between increases, decreases and stability in Dubai in the third quarter of this year 2024, according to what was revealed by the “Dubai Statistics Center” (Dubai Digital). The prices of ready-mix concrete in its two parts: Portland regular Newton 40 increased by 2%, equivalent to 5 dirhams per cubic meter, to …
Report: Building materials prices in Dubai vary in Q3 of 2024 Read More »
The Canada Border Services Agency (CBSA) has announced the final determination in its anti-dumping (AD) investigation concerning rebar imports from the UAE, Bulgaria, and Thailand. In its findings, the CBSA assigned UAE-based Conares a final dumping margin of 4.2pct, a significant increase from the preliminary margin of 0.4pct issued earlier. Thai Steel Profile Public Company …
Canada Sets Anti-Dumping Duty on Rebar Imports from UAE, Bulgaria, Thailand Read More »
Iron ore prices have fallen below $100 a ton as the market assesses the outlook for China’s property sector, which is expected to deteriorate sharply. Economic analysts expect China’s home prices and sales to continue falling next year, although the decline may be slower than in 2024. The price of iron ore, a key ingredient …
Iron ore price falls below $100 a ton as China property crunch fears deepen Read More »
A broad-based US government panel has failed to reach a consensus on the potential risks that a potential acquisition of Japanese steelmaker Nippon Steel of rival US Steel could pose, leaving the final decision on the deal in the hands of President Joe Biden, who has long opposed it. The White House said the Committee …
Biden to decide fate of Japan’s acquisition of US Steel Read More »
Iron ore prices rose on expectations of increased purchases by Chinese steel mills to replenish stocks ahead of the New Year holiday season. The most active iron ore futures contracts on the Dalian Exchange for May delivery rose 0.84% to 780 yuan ($106.87) per tonne during today’s trading, after touching the lowest level since November …
Iron ore prices rise on expectations of increased demand ahead of the holiday season 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 35,000, El Komy Steel EGP 34,700, …
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 146.8 million tonnes (Mt) in November 2024, a 0.8% increase compared to November 2023. Africa produced 1.8 Mt in November 2024, down 5.0% on November 2023. Asia and Oceania produced 107.4 Mt, up 2.0%. The EU (27) produced 10.7 …
World crude steel production up 0.8% in November 2024 Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 87,770 mt in October this year, up 56.4% month on month and down 8.2% year on year. By value, rebar imports totaled $52.4 million in October this year, compared to $26.3 million in September and $56.5 million in October …
US rebar imports up 56.4% in October, Algeria leads Read More »
Sources in the iron and steel industry in Egypt said that the country’s steel production in the first 10 months of this year approached 9 million tons, an increase of 5% year-on-year compared to the production of the corresponding period last year, according to “Al Arabiya Business”. The sources added that the quantities of steel …
Egypt’s steel production to rise to 9 million tons in January-October 2024 Read More »
Japanese Nippon Steel has accused the White House of undue influence over a security review of its $14.9 billion acquisition of United States Steel, and threatened legal action if the deal is blocked, Reuters reported. The accusation was made in a letter dated Dec. 17, signed by lawyers for Nippon Steel and U.S. Steel, to …
Nippon Steel accuses White House of undue influence in U.S. Steel deal Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $351/ tonne, $3 up compared to last week’s prices. and iron ore prices $100/ tonne, $4 down compared to last week’s prices. While the prices of billets ranged between 440 – 465 Dollars per tonne, while it was between 440 – …
Japanese steelmaker Nippon Steel has announced that it has achieved the world’s first carbon emission reduction of over 40% in a test furnace at the East Nippon Works Kimitsu Area. In the test conducted from November to December this year, the company verified a 43% reduction in carbon emissions. In this test, this significant carbon …
Nippon Steel achieves 43% carbon emission reduction Read More »
GCC economies have proven resilient to external shocks such as regional conflicts and oil production cuts over the past period, according to a report written by analysts at the International Monetary Fund, who expected positive performance for the region in the near term amid balanced risks. “The repercussions of the Red Sea tensions on Gulf …
Report: GCC economies have resisted shocks, outlook is positive Read More »
According to preliminary census data from the US Department of Commerce, US monthly steel imports in October this year up 10.7% from September and up 8.2% year on year to total 2,174,363 mt. According to the American Iron and Steel Institute (AISI), the share of imports in the US steel market in October 2024 was …
The African Development Bank has approved a $150 million concessional loan to the National Industrial and Mining Company (SNIM). The loan from the African Development Bank will enable SNIM to acquire up to 36 locomotives and 1,743 wagons to transport iron ore production to the iron ore port in Nouadhibou. The loan, provided by the …
Mauritania: SNIM borrows $150 million to expand its iron ore transport capacity Read More »
The Federal Reserve cut its main interest rate for the third time in a row by about a quarter of a percentage point to a range of 4.25%-4.50%. The decision of the US central bank, headed by Jerome Powell, comes in response to the continued slowdown in inflationary pressures that have strained the US economy …
US Federal Reserve cuts interest rates for the third time in a row in 2024 Read More »
In November 2024, India’s iron ore exports fell 55% year-on-year and 24% month-on-month to 1.82 million tonnes. This is evidenced by CYBEX data, Kallanish reports. The main reason behind the sharp decline was weak activity in the key market of China, which accounts for about 90% of India’s iron ore exports. Chinese steelmakers prefer lower-grade …
In January-November 2024, Ukraine’s flat steel imports increased by 7.8% compared to the same period in 2023, reaching 895.67 thousand tons. This is according to the State Customs Service. Coated steel products (HS 7210) accounted for the largest share of imports with a volume of 426.35 thousand tons, up 4.7% year-on-year. Hot-rolled flat steel products …
Ukraine’s flat steel imports up 7.8% in January-November 2024 Read More »