The rebar market in Saudi Arabia witnessed a decrease in prices in the first eleven months of 2024 compared to the same period in 2023. The average price of rebar in January-November of current year amounted to 2899.11 riyals, a decrease of -3.5% compared to the average for the same period in 2023, which amounted …
Rebar prices in Saudi Arabia decreased by 3.5% in January-November 2024 Read More »
Talks were held between Lieutenant General Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, and Tian Haikui, Chairman of “Chinese steelmaker XinFeng”, within the framework of discussing the latest developments in the plan to establish an integrated industrial complex with a total area within the integrated Sokhna area, affiliated …
Egyptian-Chinese talks to establish HRC and CRC factories Read More »
Egypt’s iron and steel exports declined in January-October of this year to record $1.695 billion, a decline of 13%, compared to the same period in 2023, which amounted to $1.942 billion. A report issued by the Export Council for Building Materials, Refractories and Metal Industries revealed that the total number of countries to which exports …
Egypt’s iron and steel exports decline by 13% in January-October 2024 Read More »
Tata Steel UK, a subsidiary of India-based steelmaker Tata Steel Limited, has announced that it has signed an agreement with UK-based construction equipment manufacturer JCB for the supply of green steel. This marks Tata Steel UK’s first supply agreement since the announcement of its transition to low-carbon steel production at Port Talbot. Accordingly, JCB will …
Tata Steel UK inks first green steel supply agreement with JCB Read More »
Egyptian Ezz Steel revealed the reasons behind its decision to seek to delist its shares from the Egyptian Stock Exchange for three reasons, including the increase in risks in light of the fluctuations witnessed by the industry resulting from the spread of protectionist measures in Europe. The company added in a letter sent to the …
Ezz Steel Decides to Delist Its Shares from the Egyptian Stock Exchange 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 36,000. Garhy Steel EGP 36,800, Misr Steel EGP 35,000, El Komy Steel EGP 34,700, …
Egypt’s imports of iron raw materials decreased by about 19.1% during September, recording $327 million, compared to $405 million in the same period last year 2023, according to data from the external bulletin of the Central Agency for Public Mobilization and Statistics. Ayman Al-Ashry, Chairman of the Board of Directors of Al-Ashry Steel Group, attributed …
Egypt’s imports of iron raw materials decreased by 19% in September Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $348/ tonne, $11 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 440 – 465 Dollars per tonne, while it was between 435 …
Steel prices in the second week of December 2024 Read More »
The global longs steel market is now characterized by the slowing down of market activity, even though it had not been too lively previously, due to the approaching holiday season. The shortterm expectations are blurred with a lot of uncertainty including political factors, the situation in China and the difficulties faced by the steel industry …
Global long steel trade faces challenges, outlook unstable Read More »
The first slabs and coils have been produced by South African steel producer Scaw Metals, at its Johannesburg Works. The purpose for investing in this brownfield project has been to expand the product portfolio to include flat products and to increase production capacity, making the plant a center of excellence for flat products in sub-Saharan …
Germany has scrapped plans to allocate €350 million ($368 million) to support hydrogen projects, complicating its drive to meet clean fuel transition goals. The funding was part of the European Hydrogen Bank program, which allows national subsidies to be used to support the start-up of the hydrogen industry. But Germany and the European Commission have …
Germany scraps €350m plan to support hydrogen projects Read More »
The Building Materials Division of the Cairo Chamber of Commerce held an expanded meeting with a delegation from the Turkish Steel Exporters Association to discuss new ways of cooperation in the coming period in this sector between Egypt and Turkey. Ahmed El-Zeiny, Head of the General Division of Building Materials at the Federation of Chambers …
Modon and Emsteel Group have entered into a strategic partnership that embodies Modon’s ambitious vision to become the first real estate developer in the UAE to rely on sustainable steel. This collaboration underscores the pivotal role played by Emsteel and Modon in driving the construction sector towards a more sustainable and carbon-free future. In line …
Emsteel and Modon Partner to Adopt Sustainable Steel in the Construction Sector Read More »
In November this year, China’s finished steel exports amounted to 9.278 million mt, down 17.0% month on month and rising by 15.8% year on year, according to the latest data released by China’s General Administration of Customs (GACC). In the January-November period this year, China’s finished steel exports rose by 22.6% year on year to …
China’s steel exports up 22.6% in January-November 2024 Read More »
Yamamah Steel Industries Company signed a contract with the National Contracting Company Limited to establish a high-voltage line for 95 million riyals. “Yamamah”, listed on “TASI”, said in a statement on “Tadawul” today: The contract is concerned with supplying steel towers for the purpose of establishing a 380 kV high-voltage line in the central region …
German Chancellor Olaf Scholz has invited senior steel industry representatives, workers’ councils and trade unions to a summit on the future of the industry in the Chancellery in Berlin on Monday. Scholz wrote on the X platform that it was about concrete measures to secure the steel industry in Germany, adding that ensuring reliable electricity …
In October this year, Turkey’s hot rolled coil (HRC) exports amounted to 150,831 metric tons, down by 33.3% compared to September and by 27.2% year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $92.66 million, decreasing by 34.4% compared to the …
Turkey’s HRC exports increase by 100.3% in January – October Read More »
Rio Tinto expects iron ore production to grow by 15 million tons in 2023-2025, CEO Jacob Stauscholm said during an investment seminar in London. In particular, in 2024 and 2025, the company forecasts an annual increase of 5 million tons, Australia Mining reports. A key area for Rio Tinto is the Simandou project in Guinea, …
Rio Tinto expects iron ore production to grow by 15 million tons in 2023-2025 Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $337/ tonne, $1 down compared to last week’s prices. and iron ore prices $104 / tonne, $5 down compared to last week’s prices. While the prices of billets ranged between 435 – 460 Dollars per tonne, while it was between 445 …
German Chancellor Olaf Scholz has called for stronger EU measures against steel imports, saying he wants to secure the long-term future of Germany’s industry. “We must protect our companies from being dumped with steel from abroad. That’s why I call on the European Commission to take action: We need greater protection for Europe,” Scholz said …
Scholz calls for stronger EU measures against steel imports Read More »
The orders received by the struggling German steel industry during the summer months fell compared to last year, due to the strong increase in energy prices due to geopolitical conditions. The Federal Statistical Office explained that the value of orders received by the sector in the third quarter of this year decreased by 4% compared …
Lakshmi Mittal, executive chairman of ArcelorMittal Seven years ago, I called for a carbon border tax to level the playing field between European manufacturers bearing the burden of decarbonisation and cheaper imports that are not subject to such obligations. It may seem natural to feel good about the EU’s adoption of the carbon border adjustment …
Financial Times: Europe faces crucial choices over the future of the steel industry Read More »
Vale SA plans to offer more lower-quality iron ore to meet the needs of a struggling steel industry, as it seeks to expand beyond its traditional role as a supplier of high-quality materials to the steel industry. New CEO Gustavo Pimenta laid out the strategy at an investor event in New York, saying the Rio …
Industry struggles push Vale to enter cheaper iron ore markets Read More »
Jordan Steel Company announced rebar prices for December 2024. The prices for Grade 60 EXW, between 457 and 465 dinars per tonne, excluding sales tax. However, with sales tax, it is between 530 and about 540 dinars per tonne. Grade Price without tax Price with tax Sales / tonnes Sales / tonnes Min Max …
Jordan Steel announces rebar prices for December 2024 Read More »
The Tata Steel wire rod line in Gamharia, Jamshedpur, India, is running at higher operational efficiency and delivering better wire rod quality. The upgrading project consisted of the supply and installation of two shearing units –a new crank shear and a new rotary shear– and also included an electrical and automation package by Danieli Automation. …
Danieli wire rod line modernization at Tata Steel Gamharia Read More »
According to the latest report issued by the World Steel Organization on crude steel production, Arab countries’ crude steel production amounted to 3.6 million tons in October 2024, an increase of 0.4% compared to October 2023. Egypt topped Arab countries in steel production in October with a production 950,000 tons and a decline of 7.3%. …
Arab countries’ crude steel production rises by 1.7% in January-October 2024 Read More »
US President-elect Donald Trump has announced that he will block Japanese steel giant Nippon Steel from acquiring its American rival US Steel, a deal that was announced a year ago and worth $14.9 billion. “I am totally opposed to the once great and powerful US Steel being acquired by a foreign company, in this case …
Trump vows to block Japanese steel giant Nippon Steel from acquiring US Steel Read More »
Iron ore extended gains for a second straight day as China’s manufacturing activity expanded following Beijing’s stimulus measures to support the economy. The Caixin manufacturing purchasing managers’ index (PMI) rose to 51.5 last month, its highest since June. The survey on which the index is based showed new orders rose in November at the fastest …
Iron ore extends gains as China manufacturing activity improves Read More »
In the January October period this year, Turkey’s foreign trade deficit went down by 30.1% year on year to $65.85 billion according to the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs. In October, Turkey’s iron and steel exports ranked ninth among the country’s products with the highest export value, totaling $763.86 million, …
Turkey’s steel export value up 15.8% in January-October Read More »
Rebar prices in Egypt this week ranged between EGP 34,500 – 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 36,800. Garhy Steel EGP 36,800, Misr Steel EGP 35,500, El Komy Steel EGP 35,000, …