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.
Russia extends scrap export quota for 2025 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,
Rebar prices in Egypt January 07, 2025 Read More »
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,
Rebar prices in Egypt January 01, 2025 Read More »
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
“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 »