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
German Chancellor calls for steel summit Read More »
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
Steel prices in the first week of December 2024 Read More »
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
Demand for German steel sector falls in Q3 2024 Read More »
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,
Rebar prices in Egypt December 02, 2024 Read More »
Falling steel prices and Chinese imports to India are currently more worrisome than demand for steel products in the country. Tata Steel’s Chief Executive Officer and Managing Director T. V. Narendran told about it in an interview. According to the CEO of Tata Steel, demand for steel in India remains quite strong. In the past
Tata Steel CEO : Falling steel prices are a major problem Read More »
Swedish steelmaker SSAB has selected Germany’s SMS Group to build a new 190-ton electric arc furnace (EAF), which will be one of the largest such units in the world according to SMS Group. The new furnace will be located in Ökseläsund, Sweden, and is scheduled to start operating in the fourth quarter of 2026. The
Towards green steel: SMS Group to install one of the largest EAFs for Swedish SSAB Read More »
In October this year, Japan’s iron and steel product exports amounted to 2.52 million metric tons, decreasing by 4.1% month on month and 6.4% year on year, according to the customs statistics released by the Japan Iron and Steel Federation (JISF). In the January-October period this year, Japanese iron and steel product exports amounted to
Japan’s steel exports down 4.1% in January-October Read More »
Saudi Iron and Steel Company (Hadeed) has announced updated long steel prices for December deliveries. The price of rebar (12-32 mm) will rise by SAR 50 (USD 13) per ton, bringing it to SAR 2,400 (USD 639) per ton. Meanwhile, wire rod (6.5-16 mm) prices will remain unchanged at SAR 2,440 (USD 649) per ton.
Hadeed announces increase in rebar prices for December deliveries Read More »
The Russian government has decided to increase the volume of its quota for exports of ferrous scrap and waste metals to destinations outside the customs territory of the Eurasian Economic Union (EAEU), which includes Armenia, Belarus, Kazakhstan, yrgyzstan and Russia, according to local media reports. As a result, the scrap quota volume for exports will
Russia increases volume of scrap export quota outside EAEU Read More »
Emirates Steel, part of the EMSTEEL Group, has announced an increase in rebar prices for December production by AED 50 ($14) per tonne to AED 2,610 ($711) per tonne for delivery in Abu Dhabi and AED 2,618 ($713) per tonne for delivery in Dubai, Sharjah and the Northern Emirates. These prices do not include 5%
Emirates Steel Raises Rebar Prices in December Read More »
Tosyali Algeria’s flat plate factory entered service late last October with a production capacity of 2.5 million tons per year. Alp Topkyoglu explained that Tosyali Algeria’s flat plate factory entered service late last October with a production capacity of 2.5 million tons per year. It includes a direct reduction, smelting and hot rolling unit, awaiting
According to the data released by the World Steel Association (worldsteel), global direct reduced iron (DRI) production in the 13 countries accounting for approximately 91.4% of total world DRI production in 2023 amounted to 12.84 million metric tons in October this year, increasing by 19.9% month on month and by 17.1% year on year. Meanwhile,
Global DRI output up 17.1% in October 2024 Read More »
In Nouadhibou, His Excellency the President of the Republic, Mr. Mohamed Ould Cheikh El Ghazouani, supervised, as part of the celebrations marking the 64th anniversary of National Independence Day, the inauguration of a new mineral shipping line for ships at the Nouadhibou Mineral Port. This achievement consists of a rotary dredger with a capacity of
SNIM: Inauguration of a new shipping line at the Nouadhibou Mineral Port Read More »
German Economy Minister Robert Habeck has called for easing the burden on the country’s steel sector, against the backdrop of Thyssenkrupp Steel Europe’s intention to eliminate thousands of jobs in the coming years. Thyssenkrupp Steel Europe is Germany’s largest steel company, and its majority shares are owned by the Thyssenkrupp Group. “The company’s decision is
German Economy Minister Calls for Easing the Steel Sector Read More »
A survey of 18 major steelmakers has shown that major steelmakers around the world are lagging behind in the transition to low-carbon production, with some still relying entirely on fossil fuels for energy. Steel accounts for 7% of global carbon dioxide emissions, roughly the same as India, with coal-fired blast furnaces producing 2,000 tonnes of
Report: Steel majors heavily reliant on fossil fuels Read More »
The Iron and Steel Company for Mines and Quarries announced achieving total sales in last October worth EGP 36.67 million. The company explained, in a statement to the Egyptian Stock Exchange today, that the sales of the Bahariya Oasis mines in October amounted to EGP 36.26 million. It added that the value of sales of
Egypt: EGP 36.7 million in iron and steel sales for mines in October Read More »
The world’s largest steelmaker has shelved plans to begin introducing green hydrogen into the industry, amid volatility in cost estimates and the future of the clean fuel in Europe. According to the hydrogen sector updates of the Washington-based energy platform, ArcelorMittal had prepared a package of projects aimed at reducing carbon from its portfolio, including
World’s largest steelmaker backs off on hydrogen integration Read More »
Thyssenkrupp Steel plans to cut its steel workforce by 40%, warning that oversupply in Europe and rising cheap imports from China are adding to challenges for German industry. Germany’s largest steelmaker said on Monday it aims to cut around 5,000 jobs by 2030 through production and management changes, with another 6,000 jobs transferred to external
Thyssenkrupp to cut 40% of steel workforce Read More »