The state will support Maghreb Steel, the main national player in the steel industry, in the development of four innovative projects. The company will benefit from financial support as part of the industrial innovation support program funded by the Innovation Support Fund (FSI), according to the Moroccan website Ludisk. The objective of the contract signed
Morocco to develop four new types of steel locally Read More »
Britain has taken steps aimed at reducing carbon emissions and ending the era of reliance on fossil fuels for power generation that began 142 years ago. On Monday, Britain announced its intention to close the country’s last coal-fired power plant, as well as the largest traditional steel plant, making it the only G20 member without
Britain abandons coal for power generation and closes largest traditional steel mill Read More »
Britain’s largest steel mill will end production later on Monday, when the last blast furnace at Port Talbot in Wales closes after more than 100 years of steelmaking, with the loss of nearly 3,000 jobs. The closure of the last blast furnace at Port Talbot, once Europe’s largest steel mill, caps decades of decline in
Towards decarbonisation.. Britain’s largest steel mill ends production after 100 years Read More »
Jordan Steel Company announced rebar prices for October 2024, a decrease of between 2-5 dinars over 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
Jordan Steel announces rebar prices for October 2024 Read More »
Canada has published a list of dozens of Chinese steel and aluminum products that will be hit with 25% tariffs, starting in three weeks. The tariffs, announced in August alongside a 100% tax on electric cars made in China, bring Canada’s trade policy more in line with that of its closest allies and are aimed
Canada to impose tariffs on Chinese steel, aluminum Read More »
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Under secretariat of Customs, in August this year Turkey’s foreign trade deficit decreased by 42.7% to $4.99 billion compared to August 2023. In the JanuaryAugust period this year, Turkey’s foreign trade deficit went down by 33.5 % year
Turkey’s steel export value up 19.0% in January-August 2024 Read More »
The adjusted financial indicators of the Iron and Steel Mines and Quarries Company revealed a marginal decline in the company’s net profit during the last fiscal year. It explained in a statement to the Stock Exchange that it achieved a net profit of EGP 125.95 million in profits during the period from July 2023 to
Iron and Steel Mines’ Profits Record EGP 126 Million in Last Fiscal Year Read More »
Engineer Mohamed Shimi, Minister of Public Business Sector, paid a field visit to Nasr Steel Pipes Manufacturing Company, affiliated to the Holding Company for Metallurgical Industries, as part of the ongoing field visits to affiliated companies to monitor the progress of work and modernization and development plans. During the visit, he inspected factories and production
Minister of Public Business Sector visits Nasr Steel Pipes Company Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $368/ tonne, $1 up compared to last week’s prices. and iron ore prices $102/ tonne, $10 up compared to last week’s prices. While the prices of billets ranged between 455 – 585 Dollars per tonne, while it was between 455 –
Steel prices in the last week of September 2024 Read More »
Iron ore prices traded on the Singapore Exchange continued to rise for the fourth consecutive day during Friday’s session, exceeding $100 per ton, supported by the monetary easing measures that China began implementing this week. Singapore iron ore futures prices rose by 3.68% to $102.15 per ton at 12:27 p.m. Mecca time, extending its gains
Iron ore prices rise more than 3.5% to exceed $100 per ton Read More »
A recent report revealed a 15% decline in Egypt’s iron and steel exports in January – August of this year, reaching $1.368 billion, compared to $1.617 billion in the same period last year. Italy came in first place among importers of Egyptian iron with a value of $161 million, followed by Spain with $153 million,
$1.3 billion is the volume of Egypt’s iron and steel exports in January – August 2024 Read More »
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Protected: Arab Steel Magazine July – August 2024 Read More »
Saudi Iron and Steel Company (Hadeed) will reduce its long steel prices for October deliveries due to sluggish demand, according to market insiders. The company plans to lower the price of rebar (12-32 mm) by SAR 70 ($19) per ton, bringing the new price to SAR 2,300 ($613) per ton. Similarly, the price of wire
Saudi Iron and Steel Company – Hadeed – Reduces Rebar Prices for October Delivery Read More »
The talk about green steel is increasing year after year, within the framework of global energy transition and emission reduction initiatives led by Europe, the United States and some major industrial countries. The Middle East and North Africa region is attracting significant European and global attention within the framework of these emerging initiatives, given that
Report: Green Steel Industry in the Middle East Gains Global Attention Read More »
Iron ore prices rose sharply for a second day on speculation that China’s massive stimulus package will help boost demand for the metal. Iron ore briefly rose above $99 a tonne in Singapore before retreating, after closing up about 6% in the previous session. Beijing on Tuesday unveiled a raft of measures to support Asia’s
Iron ore prices surge for second day, near $100 a tonne Read More »
Fitch Ratings indicated that the global steel sector is facing increasing pressures due to falling demand and prices, especially with the rise in Chinese exports that weaken producers’ profit margins. The rating outlook for global steel companies varies based on their debt reduction paths and liquidity risks. In Europe, maintenance operations that halted production at
Fitch: Global steel sector faces increasing pressures due to falling demand Read More »
Iron ore prices jumped during Tuesday’s trading, as China intends to take several expanded monetary easing measures to stimulate the economy and the real estate sector, which will revive demand for steel in the world’s second-largest economy. The most active iron ore futures prices on the Singapore Exchange rose by 4.74% to $93.70 per tonne
Iron ore rises more than 4% on Chinese demand outlook Read More »
A report by the Bloomberg Intelligence economic analysis service warned that the steel crisis in China is paving the way for a wave of bankruptcies and accelerating the mergers that the sector needs. Michele Leung, a senior analyst at Bloomberg Intelligence, said that about three-quarters of steel companies in China suffered losses in the first
Warning of a wave of bankruptcies hitting steel companies in China Read More »
Dr. Mostafa Madbouly, Prime Minister of Egypt, held a meeting with a number of ministers and officials to discuss the mechanism for amending carbon limits to enhance Egyptian competitiveness in the field of exports. Counselor Mohamed El-Homosany, the official spokesman for the Presidency of the Council of Ministers, stated that the meeting discussed the available
Egypt moves to amend carbon limits to enhance competitiveness Read More »
Tosyali Algeria announced the commissioning of the second direct reduction unit, which operates using 100% natural gas or hydrogen with modification, which reduces carbon emissions. The new module will produce 2.5 million tons of products (HDRI, CDRI) per year. According to equipment supplier Midrex, the plant is capable of operating with an increased percentage of
Tosyali Algeria launches second DRI production unit Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $367/ tonne, $3 down compared to last week’s prices. and iron ore prices $92/ tonne, $1 down compared to last week’s prices. While the prices of billets ranged between 455 – 585 Dollars per tonne, while it was between 450 –
Steel prices in the third week of September 2024 Read More »
Total emissions in China’s steel industry in January-July 2024 increased by 4.3% compared to the same period in 2023. This was reported by the China Steel Association (CISA). Sulphur dioxide emissions per ton of steel amounted to 0.18 kg/t (-13.4% y/y), particulate matter – 0.20 kg/t (-9.2% y/y), nitrogen oxide – 0.34 kg/t (-9.9% y/y).
Emissions in China’s steel industry increased by 4.3% in January-July 2024 Read More »
In the January-August period this year, China’s rebar production totaled 129.685 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 88.568 million mt, declining by 4.5% year on year, while welded pipe output came to 38.729 million mt, down
China’s rebar output down 15.7% in January-August 2024 Read More »
Sweden-based Stegra, formerly known as H2 Green Steel, has announced that the Swedish Energy Agency has granted about €100 million from the country’s Industrial Leap Fund for the company’s fully integrated green steel production plant in Boden. The company stated that the state aid will not only help them to accelerate the transition to sustainable
Sweden’s Stegra receives €100 million state aid for green steel operations Read More »
U.S. Steel saw its shares rise more than 3% after news that a U.S. security panel has given Nippon Steel permission to resubmit its plans to buy the company for $14.1 billion. A U.S. national security panel reviewing Nippon Steel’s $14.9 billion bid for U.S. Steel has allowed the two companies to resubmit their application
US Steel shares rise after Nippon takeover decision delayed until after election Read More »
The Arab Iron and Steel Union held the third meeting of the Technical Committee on September 17-18, 2024 in the city of Algiers in the Republic of Algeria at the Algiers Hotel. During this meeting, the opportunities and challenges of Arab steel companies to achieve carbon neutrality in the iron and steel industry and short-
Arab Iron and Steel Union holds the third meeting of the Technical Committee in Algeria Read More »
Chile’s largest steel mill, Wachipato, is closing after 74 years in operation, leaving thousands of people unemployed. Life in Talcahuano, a town of 160,000 people in the Biobio region 500 kilometres (310 miles) from the capital Santiago, revolved around the landmark steel mill. The closure of the plant affects 2,700 direct jobs, including those held
China shuts down Chile’s largest steel mill Read More »
Jassim Al Abbas, Vice Chairman of the National Iron Industry Committee and General Manager of Sales, Marketing and Business Development at Al Ittifaq Steel Company, said that the expected demand for reinforcing steel and coils during the current year 2024 is about 7.5 million tons. Al Abbas explained in an interview with Argaam on the
Canada has issued a final determination on the dumping of Egyptian wire rod, according to a notice from the Canada Border Services Agency (CBSA). The CBSA also confirmed final antidumping margins on wire rod imports from China and Vietnam. As a result, Egyptian wire rod exports, particularly from Suez Steel, will face an 8.6% antidumping
Canada unveils final dumping margins for Egyptian wire rod exporters Read More »
According to the prices announced in the global steel markets, scrap prices amounted to $370/ tonne, $6 up compared to last week’s prices. and iron ore prices $92/ tonne, $9 unchanged compared to last week’s prices. While the prices of billets ranged between 455 – 565 Dollars per tonne, while it was between 450 –
Steel prices in the second week of September 2024 Read More »