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% …
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, …
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 …
According to the prices announced in the global steel markets, scrap prices amounted to $338/ tonne, $6 down compared to last week’s prices. and iron ore prices $105 / tonne, $5 up compared to last week’s prices. While the prices of billets ranged between 445 – 475 Dollars per tonne, while it was between 455 …
Troubled German steelmaker Thyssenkrupp has reported a €1bn ($1.06bn) loss at its steel division as demand weakens, with the industrial giant citing a bleak outlook for sales volumes and structural challenges in the sector. The company’s net loss narrowed to €1.5bn in the fiscal year ended Sept. 30, after deducting minority stakes, from a net …
Thyssenkrupp posts €1bn loss as steel demand weakens Read More »
The US Commerce Department has approved a tariff increase on Nippon Steel, as the Japanese steelmaker promised to fight imports to secure support for its $14.1 billion deal to acquire US Steel. The Commerce Department imposed a 29% anti-dumping duty on Nippon Steel for selling hot-rolled steel in the United States at below-normal prices from …
Saeed Al Ghafri, CEO of Emirates Steel, a subsidiary of Emsteel Group, revealed a new project to produce low-carbon steel in Abu Dhabi, in cooperation with Japanese partners to meet the growing global demand for environmentally friendly products. Al Ghafri confirmed on the sidelines of the “Middle East Iron and Steel Conference 2024” held in …
Emirates Steel CEO: Expected project to produce low-carbon steel in Abu Dhabi Read More »
Egypt’s steel exports declined in January to September of this year to $1.46 billion, a decline of 18% compared to same period last year. Exports fell by about 11.5% in terms of quantities to 2.25 million tons. The value of steel imports in January – September of this year increased by 33% to $4 billion, …
Egypt’s steel exports decline, imports increase in Jan. – Sep. 2024 Read More »
Reuters reported that steelmaker Swiss Steel Group will cut about 800 jobs in its home market of Switzerland and abroad due to weak demand in European manufacturing, lower production levels and weak growth prospects. Reuters reported that steelmaker Swiss Steel Group (STLN.S), opens new tab will cut around 800 jobs in its home market of …
ArcelorMittal France, a subsidiary of Luxembourg-headquartered steel giant ArcelorMittal, has announced that it has signed a contract with France-based renewable energy device producer Genvia to integrate a 200kg/day low-carbon hydrogen electrolyzer to the industrial processes for the production of high performance electrical steels. This collaboration represents an important step in the joint effort to reduce …
ArcelorMittal France and Genvia to collaborate on low-carbon hydrogen Read More »
Rebar prices in Egypt this week ranged between EGP 35,000 – EGP 40,700. The prices were as follows: Ezz Steel EGP 38,200, Suez Steel EGP 38,100, Bishay Steel EGP 40,700, El Marakby Steel EGP 36,800, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 36,800, Misr Steel EGP 35,500, El Komy Steel EGP …
According to the prices announced in the global steel markets, scrap prices amounted to $356/ tonne, $8 down compared to last week’s prices. and iron ore prices $96/ tonne, $6 down compared to last week’s prices. While the prices of billets ranged between 460 – 490 Dollars per tonne, while it was between 460 – …
China’s steel output rebounded in October, snapping a four-month losing streak, as market sentiment improved on Beijing’s efforts to stimulate economic growth. Improved profit margins helped steelmakers increase output to 81.88 million tonnes, up 6.2% from September and 2.9% higher than a year earlier, according to data from the National Bureau of Statistics. The cumulative …
China steel output rebounds after four-month decline Read More »
Meeting on Thursday with non-governmental entities in Baku for the COP29 climate talks, UN Secretary-General António Guterres highlighted the crucial role that cities, regions, businesses and financial institutions must play in driving the worldwide effort towards reaching net-zero emissions by mid-century. “We need a massive global effort to steer our world onto a path to …
COP29: Now is the time to fast-track, not backtrack’ on the path to net-zero Read More »
The British newspaper, Financial Times, reported that the frozen trade dispute over steel has become an early test for the European Union’s relationship with the incoming administration of US President-elect Donald Trump. The outgoing US President Joe Biden had reached a truce with the European Union in the conflict that erupted when former President Donald …
Financial Times: The trade dispute over steel between Brussels and Washington is renewed Read More »
China’s steel exports in October 2024 increased by 10.1% compared to the previous month – to 11.18 million tons. Shipments increased by 40.8% compared to October 2023. It is reported by Reuters. During January-October this year, Chinese producers exported 91.89 million tons of steel (+23.3% y/y), which already exceeds the total exports of 2023 and …
In October this year, Vietnam’s steel imports reached 2,412,410 mt, up 41.7% compared to September, with China as the largest exporter with 1,856,612 mt, while its scrap imports grew 7.5% month-on-month to 346,153 mt, with Japan as the largest exporter with 189,663 mt, according to data released by the General Department of Customs of Vietnam. …
Vietnam’s steel imports up 23.2%, scrap up 7.7% in Jan-Oct 2024 Read More »
