In September 2024, steel enterprises of Turkey reduced rebar export by 19.3% compared to the same month in 2023 – to 328.8 thousand tons, while it increased by 9.6% compared to August, This is evidenced by the preliminary data of the Turkish Statistical Institute (TUIK). The average registered price in September was $578/t against $567/t
Turkey’s rebar exports down 19.3% in September 2024 Read More »
Jordan Steel Company announced rebar prices for November 2024, unchanged from last month’s prices. The prices for Grade 60 EXW, between 451 and 457 dinars per tonne, excluding sales tax. However, with sales tax, it is between 537 and about 545 dinars per tonne. Grade Price without tax Price with tax Sales / tonnes
Jordan Steel announces rebar prices for November 2024 Read More »
South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has announced its consolidated financial results for the third quarter this year. The company reported an operating profit of KRW 743 billion ($539.52 million) in the given quarter, down by 1.2% compared to the second quarter, due to a decline in sales prices. In the third
South Korea: POSCO posts lower net profit, sales revenue in Q3 2024 Read More »
The work of the 60th regular meeting of specialized Arab unions operating in Cairo began today with the participation of the Arab Iron and Steel Union, in the presence of the permanent delegates of the member states of the Council, and the heads and secretaries-general of the specialized Arab unions. Ambassador Mohammadi Ahmed Al-Ni, Secretary-General
According to the prices announced in the global steel markets, scrap prices amounted to $363/ tonne, $2down compared to last week’s prices. and iron ore prices $101/ tonne, $1 Unchanged compared to last week’s prices. While the prices of billets ranged between 470 – 500 Dollars per tonne, while it was between 475 – 500
Steel prices in the first week of November 2024 Read More »
Emsteel Building Materials Company recorded a net profit of AED 91.62 million in January – September 2024 compared to AED 387.6 million in the same period last year, a decrease of 76%. The company achieved revenues of AED 5.87 billion in the first nine months of 2024 compared to AED 6.48 billion in the corresponding
UAE: Emsteel profits AED 91.6 million in January – September 2024 Read More »
Saeed Ghumran Al Rumaithi, CEO of Emsteel Group, explained that the group’s performance is good and appropriate, compared to competitors and steel manufacturers worldwide, noting that the industrial sector is going through many challenges globally, due to the economic conditions and the slowdown in global economies, and the impact on the international shipping sector, which
Saeed Al Rumaithi: The construction sector supports the steel industry and grows by 3% Read More »
The International Monetary Fund expects the growth rates of the Egyptian economy to reach 4.5% for the years 2024 and 2025, driven by huge investments in infrastructure and the energy sector. In its latest report on the economic outlook for the Middle East and Central Asia region, the IMF explained that economic growth in Egypt
IMF: 4.5% expected growth rate of the Egyptian economy in 2025 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 37,500, Egyptian Steel EGP 38,100, Ashry Steel EGP 35,500. Garhy Steel EGP 37,200, Misr Steel EGP 35,500, El Komy Steel EGP
Rebar prices in Egypt November 1, 2024 Read More »
Iron ore prices fell after hitting a two-week high on rising port stocks in China, the world’s largest importer of the metal used in steelmaking. Singapore iron ore futures for November delivery fell 1.06% to $102.30 a tonne. This came after Shanghai-based steel market data provider Steel Home revealed that iron ore stocks at Chinese
Iron ore prices fall 1% on rising Chinese stocks Read More »
The Ministry of Industry and Trade (MOIT) of Vietnam announced a five-year extension of the anti-dumping (AD) measures on color-coated steel products originating in China and South Korea, valid until October 23, 2029. The investigating authority determined that the termination of the existing AD measure is likely to lead to the continuation or reoccurrence of
Vietnam extends AD measure on color-coated steel from China, South Korea Read More »
Saudi Iron and Steel Company ( Hadeed ) has announced an increase in rebar prices for November. The company announced an increase in the price of rebar (12-32 mm) by 50 Saudi riyals ($13) per ton, to become 2350 Saudi riyals ($625) per ton. Similarly, the price of wire rod (6.5-16 mm) will increase by
Saudi Iron and Steel Company (Hadeed) announces rebar prices for November Read More »
Shares of Chinese steelmakers rose on Monday after an industry association said it would propose new policies to policymakers to reshape the sector in the face of weak demand caused by a property slump. At the close, China’s second-largest steelmaker Anzhang Steel jumped 7.24 percent to HK$1.63, while Maanshan Iron surged 9.1 percent to HK$1.32.
Chinese steel stocks rise after industry restructuring proposals Read More »
Vale and Jinnan Iron and Steel Group have announced an investment of OMR 240 million to establish the first iron ore concentration plant in Sohar Port and Free Zone, which will boost the growth of the iron and steel sector in the Sultanate of Oman and consolidate the country’s position as a key player in
Vale and Jinnan Iron and Steel Group announce investment of over $600 million Read More »
Abu Dhabi Future Energy Company (Masdar), the world’s leading clean energy company, and Emsteel Group, the largest listed steel and building materials company in the UAE, have announced the successful completion of the development of a pilot project to produce sustainable steel using green hydrogen. The pilot project in Abu Dhabi is the first of
Italian equipment manufacturer Danieli plans to invest €572 million in sustainable development projects over the next five years. This was announced by the company’s Vice President Camilla Benedetti, ANSA reports. The most important of the projects, according to Benedetti, is the Digital Green Plant, an eco-friendly line that will allow the company to produce 700
Danieli invests €572 million in sustainability projects Read More »
The European Commission has announced that it has started the registration process for imports of HRC from Egypt, India, Japan and Vietnam, which are subject to ongoing antidumping investigations. The registration of imports, which will expire in nine months, will enable the retroactive collection of antidumping duties if necessary. With the registration, the commission aims
EU starts registration process for HRC imports from four countries Read More »
EMSTEEL, the UAE-based company, has announced that its rebar prices for November production will be AED 2,560 ($697) per tonne in Abu Dhabi and AED 2,568 ($699) per tonne in Dubai, Sharjah and the Northern Emirates. This marks an increase of $30 per ton compared to last month’s prices. Headquartered in Abu Dhabi, EMSTEEL has
EMSTEEL increases rebar prices for November Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $365/ tonne, $7down compared to last week’s prices. and iron ore prices $101/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 475 – 500 Dollars per tonne, while it was between 475 – 510
Steel prices in the fourth week of October 2024 Read More »
Malaysia plans to work with China to set up an intergovernmental mechanism to manage capacity and exchange technology in the steel industry. Deputy Minister of Investment, Trade and Industry Liew Chin Tong said the government also called for discussions on steel industry challenges and potential cooperation with China at the Association of Southeast Asian Nations
Malaysia to set up intergovernmental mechanism with China to support steel industry Read More »
According to the latest report issued by the World Steel Organization on crude steel production, Arab countries’ crude steel production to 3.4 million tons in September 2024, an increase of 2.2% compared to September 2023. Egypt topped Arab countries in steel production in September with a production volume of 867 thousand tons and an increase
Arab countries’ crude steel production increases by 1.9 % in January – September 2024 Read More »
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 amounted to 10.47 million metric tons in September this year, decreasing by 1.2% month on month and by 2.4% year on year. Meanwhile, world DRI
Global DRI output down 2.4% in September Read More »
Ezz Steel said that it has signed, along with a number of Egyptian industrial groups, a framework agreement of intent for consultation and cooperation with the Egyptian government. The company explained in a statement in response to the stock exchange’s inquiries about what was published under the title “Signing oil exploration agreements with Ezz Steel,”
Ezz Steel announces signing of oil exploration agreements with the government Read More »
The Egyptian steel industry witnessed an improvement in the rate of crude steel production by 6% in the first nine months of this year to 7.9 million tons, accompanied by a significant increase in the production of rebar by 11% compared to the same period last year to 6.4 million. The increase in sales was
Egyptian steel industry witnessed an improvement in Jan – Sep. 2024 Read More »
The Iron and Steel Company for Mines and Quarries announced that it achieved total sales in September amounting to EGP 31.89 million. The company explained, in a statement to the Egyptian Stock Exchange, that the sales of the Bahariya Oasis mines in September amounted to EGP 31.76 million. It added that the value of sales
Egypt: EGP 32 million in iron and steel sales for mines in September Read More »
China’s steelmakers are expected to continue exporting large amounts of steel in 2025, potentially exacerbating trade tensions as they grapple with overcapacity and weak domestic demand. The country’s steel exports are expected to exceed 100 million metric tons this year, the highest since 2016, with a 21.2% increase to 80.71 million tons in the first
China to Keep high steel exports in 2025 Read More »
In the January-September period this year, China’s rebar production totaled 145.056 million mt, down 15.7% year on year, according to China’s National Bureau of Statistics (NBS). In the given period, domestic wire rod production amounted to 100.33 million mt, declining by 4.2% year on year, while welded pipe output came to 43.995 million mt, down
China’s rebar output down 15.7% in January-September 2024 Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 63,287 mt in August this year, down 24.3% month on month and down 144.2% year on year. By value, rebar imports totaled $41.4 million in August this year, compared to $47.5 million in July and $93.8 million in August
US rebar imports down 24.3% in August Read More »
World crude steel production for the 71 countries reporting to the World Steel Association (worldsteel) was 143.6 million tonnes (Mt) in September 2024, a 4.7% decrease compared to September 2023. Africa produced 1.9 Mt in September 2024, up 2.6% on September 2023. Asia and Oceania produced 105.3 Mt, down 5.0%. The EU (27) produced 10.5
World crude steel production down 4.7% in September 2024 Read More »
China is expected to account for less than half of global steel consumption in 2024, the first time in six years, according to the World Steel Association. This is due to the contraction of the country’s real estate sector, which is severely affecting demand for the metal. The World Steel Association’s forecasts indicate a divergence